All articles by Nyree Stewart – Page 46

  • News

    Irish not in position to offer PPF

    2009-03-09T16:15:00Z

    [17:15 CET 09-03] IRELAND – The Irish government has admitted it is “not in a position” to offer occupational defined benefit (DB) the protection of a state guarantee from a pension protection fund.

  • News

    Teachers to take action over Irish levy

    2009-03-09T16:10:00Z

    [7:10 CEt 09-03] IRELAND – Members of three teachers unions have voted in favour of industrial action, including strikes, over the government's handling of the economic crisis including the introduction of the "pension levy".

  • News

    E-based personal accounts need member education

    2009-03-09T16:00:00Z

    [17:00 CET 09-03] UK – The pensions and investment industry has warned a 'self-service' e-approach to personal account members investment decisions risks "underestimating" the challenges involved in educating consumers.

  • News

    Westminster re-tenders advice contracts

    2009-03-09T15:55:00Z

    [16:55 CET 09-03] UK – The City of Westminster Council has initiated a search for providers of investment and actuarial advice to its local government pension scheme (LGPS).

  • News

    Local authorities hold over €1bn in Icelandic banks

    2009-03-06T16:05:00Z

    [17:05 CET 06-03] UK – Local authorities in England have reported investments totalling £923.2m (€1.03bn) in Icelandic banks at the end of 2008, some of which may have been held on behalf of pension funds.

  • News

    Pensions ombudsman to highlight possible tax offences

    2009-03-06T16:00:00Z

    [17:00 CET 06-03] IRELAND – The Pensions Ombudsman has stated information relating to possible tax offences uncovered through its own inquiries will be passed to the Irish Revenue Commissioners under a new memorandum of understanding.

  • News

    2012 contributions may be less than expected

    2009-03-06T15:55:00Z

    [16:55 CET 06-03] UK – Watson Wyatt has warned workers auto-enrolled into occupational schemes after 2012 could have an “exaggerated impression” of the size of their pension as typical minimum contribution rates into qualifying pension schemes will never be more than 6.8% of gross earnings.

  • News

    Norway government global falls to NOK2.1trn

    2009-03-06T15:30:00Z

    [16:30 CET 06-03] NORWAY – The value of the Government Pension Fund – Global fell in value in January by over NOK1.5bn (€160m) to NOK 2.1trn (€235.9bn).

  • News

    Etera drops €1bn in 2008

    2009-03-06T13:00:00Z

    [14:00 CET 06-03] FINLAND – Etera Mutual Pension Insurance Company saw its market share fall to 5.6% in 2008 and has reported an overall loss of €1.03bn following a negative investment performance.

  • Union anger over Finnish retirement increase
    News

    Union anger over Finnish retirement increase

    2009-03-05T16:10:00Z

    [17:10 CET 05-03] FINLAND – The three trade union confederations in Finland are organising a national meeting of trustees, or shop stewards, next week against the government's plans to increase the retirement age without consultation.

  • PPF appoints CIO
    News

    PPF appoints CIO

    2009-03-05T16:00:00Z

    [17:00 CET 05-03] UK – The Pension Protection Fund (PPF) has appointed Ian McKinlay as chief investment officer to the fund.

  • News

    Government pension fund - Norway drops €3bn

    2009-03-05T16:00:00Z

    [17:00 CET 05-03] NORWAY – The Government Pension Fund – Norway lost NOK 29.6bn (€2.95bn) in 2008, according to the latest figures from Folketrygdfondet.

  • News

    ECJ passes Heyday case back to UK High Court

    2009-03-05T15:55:00Z

    [16:55 CET 05-03] EUROPE/UK – The European Court of Justice (ECJ) has argued it is "ultimately" for the UK High Court to decide whether the default retirement age of 65 breaches age discrimination legislation.

  • News

    Irish committee to examine NPRF ethical issues

    2009-03-04T16:15:00Z

    [17:15 CET 04-03] IRELAND – The government has announced it is to establish an “interdepartmental committee” to examine the possibility of introducing ethical investment guidelines for the National Pension Reserve Fund (NPRF).

  • News

    ITV considers DB changes as deficit hits £178m

    2009-03-04T16:15:00Z

    [17:15 CET 04-03] UK – ITV, the commercial broadcast company, has reported a “lower than speculated” £178m (€200m) deficit in its defined benefit (DB) pension scheme but confirmed it is to begin a consultation on possible changes to the plan.

  • News

    Irish managed funds drop 7.5% in 2009

    2009-03-04T16:05:00Z

    [17:05 CET 04-03] IRELAND – The average Irish group managed pension fund dropped a further 5.7% in February bringing the total return for 2009 to -7.5%, Rubicon Investment Consulting has revealed.

  • News

    North Yorks to drop Hermes European focus

    2009-03-03T16:05:00Z

    [17:05 CET 03-03] UK –North Yorkshire County Council has decided to divest its £878.8m (€979.4m) pension fund from a holding in the Hermes Focus Asset Management’s European Focus Fund, following a combination of poor performance and staff departures.

  • News

    Northern Rock records £31m accounting surplus

    2009-03-03T15:55:00Z

    [16:55 CET 03-03] UK – Northern Rock has reported an accounting surplus in its defined benefit (DB) scheme of £31.7m (€35.4m), despite previous estimates by trustees of a £100m deficit.

  • News

    VER drops €1.93bn as equity losses exceed 42%

    2009-03-03T15:55:00Z

    [16:55 CET 03-03] FINLAND - Valtion Eläkerahasto (VER), the State Pension Fund, has reported an overall investment return of -15.8% in 2008, driven primarily by the results from its equity portfolio which lost 42.7% over the year.

  • News

    Global equity declines hit AP7 hard

    2009-03-02T16:00:00Z

    [17:00 CET 02-03] SWEDEN – Sjunde AP-fonden (AP7) has reported a fall of -42.8% in its Premium Choice Fund, while the Premium Savings Fund, the default for savers in the Swedish pension system (PPM) dropped 36.2%.