All articles by Nyree Stewart – Page 39
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News
PADA initiates discussion on investment
[17:05 CEST 07-05] UK - The Personal Accounts Delivery Authority (PADA) has issued a discussion paper to help inform its trustee corporation of its thoughts on investment strategy, and which includes thinking on corporate governance and responsible investing.
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News
Budget forces rethink on pension plans
[17:00 CEST 07-05] UK – Planned reductions in higher rate tax relief on pension contributions have caused nearly 60% those in charge of pension schemes to rethink existing pension projects, according to Hewitt Associates.
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News
VER loses 2.4% in Q1
[17:25 CEST 06-05] FINLAND – Valtion Eläkerahasto, the State Pension Fund, generated a return of -2.4% in the first quarter of this year, reducing the value of its investments to €10.16bn.
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News
Ombudsman criticises gov't over Eq Life response
[17:20 CEST 06-05] UK – The Parliamentary and Health Service Ombudsman has warned the UK government's 'alternative' proposal to make ex-gratia payments to members of Equitable Life who suffered "disproportionate impact" of losses will not remedy the injustice resulting from maladministration.
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News
Berkshire adopts new due diligence policy
[17:15 CEST 06-05] UK – The Royal Borough of Windsor and Maidenhead has implemented a new due diligence policy relating to the external managers of the £1.05bn (€1.19bn) Berkshire pension fund, in response to "a number of scandals during 2008".
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News
TPR simplifies 'material detriment' code
[16:50 CEST 06-05] UK – Feedback on a draft code of practice concerning the "material detriment" test has resulted in The Pensions Regulator (TPR) restructuring the code to make it clearer and more "accurately reflect the policy intent".
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News
Danica Pension posts Q1 profit
[16:50 CEST 05-05] DENMARK - Danica Pension, the pensions arm of Danske Bank Group, managed to generate net income of DKK91m (€12.2m) in the first quarter of 2009, despite seeing a decline in total premiums paid.
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News
ASB sticks to immediate recognition of pension values
[16:35 CEST 05-05] UK – The UK Accounting Standards Board (ASB) has revealed it has made some "tentative" decisions on proposals relating to the financial reporting of pensions including immediate recognition of pension assets and liabilities.
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News
Irish managed funds find positive ground
[16:30 CEST 05-05] IRELAND – Irish managed funds posted a second consecutive month of positive returns with an average yield in April of 8.7%, according to Hewitt Associates.
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News
Avon calls on HSBC
[16:25 CEST 05-05] UK – Bath and North East Somerset Council has appointed HSBC Actuaries and Consultants to provide full investment consultancy services to the £1.95bn (€2.2bn) Avon Pension Fund.
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News
Aon extends funding index to avoid FRS17 'distortion'
[15:00 CEST 01-05] UK – Financial reporting standards are "distorting" the level of pension scheme losses suffered in the financial crisis, effectively hiding around £120bn (€135bn) of losses Aon Consulting has warned.
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NewsBermuda insurer targets buy-ins with 'bridge' model
[13:30 CEST 01-05] UK/EUROPE – Bridge Pointe, a Bermuda-based insurance company, has confirmed its intention to enter the European buyout market and the UK in particular, where officials claim they could expand the market by up to £1bn (€1.12bn) in the next 18 months.
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NewsATP loses DKK2.4bn after negative SP result
[12:30 CEST 01-05] DENMARK – ATP Group has reported an overall loss of DKK2.4bn (€322m) in the first quarter, driven primarily by a 4.3% loss in the Special Pension Savings Scheme (SP).
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NewsWarnings surface over Irish early retirement plan
[12:00 CEST 01-05] IRELAND – Government plans to cut the public sector wage bill by incentivising early retirement may not be "legally sound", Impact, the trade union, has warned.
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NewsHull PCT wants 'comparable' scheme to NHS
[11:30 CEST 01-05] UK – NHS Hull, the area's primary care trust (PCT), is seeking a provider to develop a company pension fund for the City Health Care Partnership (CHCP) that will offer "comparable" benefits to the NHS pension scheme.
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NewsEC to raise insolvency issue with Irish gov't
[17:10 CEST 30-04] IRELAND/EUROPE – Trade union representatives for SR Technics workers have been told the European Commission will "shortly" be raising the issue of pension protection, when a scheme is wound up in deficit, with the Irish government.
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NewsHewitt awarded PPF longevity risk role
[17:05 CEST 30-04] UK – The Pension Protection Fund (PPF) has appointed Hewitt to provide advice on the scheme's exposure to longevity risk.
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Features
Time to rethink Irish benefits
Accrued benefits in defined benefit (DB) schemes have previously seemed off-limits for employers looking to cut costs. But with an estimated 90% of Irish DB schemes failing the minimum funding standard it may be time for a rethink.
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News
Hanafin criticised for 'rushing' DB changes
[17:20 CEST 29-04] IRELAND – Last-minute amendments to the Social Welfare Bill introducing measures to support members of defined benefit (DB) schemes, including a state annuity scheme, have been criticised by opposition political parties for being “rushed through” the Oireachtas.
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News
Personal accounts to rollout ahead of auto-enrolment
[17:15 CEST 29-04] UK – The personal accounts delivery authority (PADA) has confirmed it wants to launch the new trust-based occupational scheme before the introduction of compulsory employer contributions and auto-enrolment is introduced in 2012, in a bid to iron out any problems.
