All articles by Nyree Stewart – Page 49

  • Three Swedish pension funds report 'red light'
    News

    Three Swedish pension funds report 'red light'

    2009-02-12T16:00:00Z

    [17:00 CET 12-02] SWEDEN – The Finansinspektionen (FI), the Swedish Financial Supervisory Authority, has confirmed the buffer capital of Swedish pension funds declined at the end of 2008, and three funds reported a 'red light'.

  • News

    OECD calls for pension expansion despite $5.4trn loss

    2009-02-12T15:55:00Z

    [16:55 CET 12-02] GLOBAL – Private pensions across the world lost $5.4trn between January and December 2008, up from $5trn in October 2008, driven mainly by returns on US pension funds, according to figures from the Organisation for Economic Cooperation and Development (OECD).

  • News

    Oxford appoints IFA and passive equity manager

    2009-02-12T13:15:00Z

    [14:15 CET 12-02] UK – Oxfordshire County Council has appointed Peter Davies as the independent financial adviser to its £913m (€1.04bn) local authority pension fund and awarded Legal & General Investment Management (LGIM) a 10-year specialist passive equity mandate.

  • News

    Iceland to allow 'temporary' access to 3rd pillar savings

    2009-02-11T13:30:00Z

    [14:30 CET 11-02] ICELAND – The Icelandic government plans to introduce legislation allowing holders of individual pension accounts to access their savings early to meet “dire financial difficulties”.

  • News

    Jobs go as AP1 alters asset management model

    2009-02-11T09:45:00Z

    [10:45 CET 11-02] SWEDEN – Första AP-fonden (AP1), the first Swedish national pension Fund, is making 20 people redundant and changing its asset management model, in response to the credit crunch, to focus on strategic asset allocation.

  • News

    Pension funds back private equity move into RI

    2009-02-10T15:40:00Z

    [15:40 CET 13-02] GLOBAL – The £28bn (€32bn) Universities Superannuation Scheme (USS) is one of a number of pension funds to support the introduction of guidelines for responsible investment (RI) by private equity firms.

  • News

    VER may take 10% of local commercial paper

    2009-02-10T15:30:00Z

    [16:30 CET 10-02] FINLAND – Valtion Eläkerahasto (VER), the state pension fund, has increased its allocation to commercial paper markets by €100m in February, although government plans to use it to help boost the economy could see it taking a 10% share of the market.

  • News

    AP3 plans IT upgrade to improve STP

    2009-02-10T14:45:00Z

    [15:45 CET 10-02] SWEDEN – Tredje AP-fonden (AP3), the third Swedish national pension fund, is seeking a supplier of an Order/Execution Management System (OEMS) to improve efficiency and reduce risks.

  • News

    AP1 updates ownership governance policy

    2009-02-10T14:30:00Z

    [15:30 CET 10-02] SWEDEN - Första AP-fonden, (AP1), the first Swedish national pension fund, has updated its 'ownership policy' relating to how it uses active ownership to influence corporate governance issues in both Swedish and foreign companies.

  • News

    Hammersmith & Fulham seeks investment advice

    2009-02-09T14:45:00Z

    [15:45 CET 09-02] UK – The London Borough of Hammersmith and Fulham has formally initiated a search for an investment consultant for its £430m (€490m) local authority pension fund.

  • News

    Complexity and costs have 'killed' DB

    2009-02-09T14:15:00Z

    [15:15 CET 09-02] UK – An increase in “well-meaning” legislation has effectively ‘killed off’ defined benefit (DB) schemes through rising complexity and costs, experts have warned.

  • News

    Gov't under fire for means-testing modelling

    2009-02-06T16:00:00Z

    [16:55 CET 06-02] UK – The pensions industry has attacked assumptions used by the government in a report which concluded 95% of people will be better off saving when auto-enrolment is introduced in 2012.

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    Irish public sector workers plan action over levy

    2009-02-06T15:45:00Z

    [16:45 CET 16:45] IRELAND – Irish public sector trade unions have warned they are “not ruling anything out” in reaction to government plans to introduce an average public service pension levy of 7.5% on €50,000 earnings.

  • News

    Nuclear authority tenders for advice

    2009-02-06T15:30:00Z

    [16:30 CET 06-02] UK – The Nuclear Decommissioning Authority (NDA) is seeking an actuarial and investment consultant and a legal adviser to provide services in relation to all the pension arrangements which comes under its remit.

  • News

    Merseyside admin contract awarded to Heywood

    2009-02-06T15:25:00Z

    [16:25 CET 06-02] UK – The £3.7bn (€4.2bn) Merseyside Pension Fund has appointed Heywood to provide pension administration and payroll services.

  • News

    Equity losses reduce AP2 by €5.2bn

    2009-02-06T15:15:00Z

    [16:15 CET 06-02] SWEDEN – Andra AP-fonden (AP2), the Second Swedish National Pension Fund has reported a loss of -24%, or SEK55.1bn (€5.2bn), on its net assets in 2008.

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    ATP hedging avoids draw on reserves

    2009-02-05T16:15:00Z

    [17:15 CET 05-02] DENMARK – ATP Group, Denmark’s largest pension fund provider, suffered a loss of DKK 25.7bn (€3.4bn) in 2008, though the firm's hedging strategy prevented a need to draw on reserves in what it was described as a "challenging year".

  • News

    Gov't claims auto-enrolment will benefit 95%

    2009-02-05T16:05:00Z

    [17:05 CET 05-02] UK – Auto-enrolment will benefit more than 95% of people in relation to retirement saving despite means-testing, and the “large majority” expected to get double what they contribute, the government has claimed.

  • News

    Irish managed funds drop 1.9% in January

    2009-02-05T15:55:00Z

    [16:55 CET 05-02] IRELAND – Irish group pension managed funds fell an average of 1.9% in January continuing the downward trend that led to a 34.8% loss in 2008, according to figures from Rubicon Investment Consulting.

  • News

    Public sector 'to cost taxpayers £335bn'

    2009-02-04T15:55:00Z

    [16:55 CET 04-02] UK – The Institute of Directors (IoD) has suggested public sector workers should be switched to defined contribution (DC) pension arrangements as public sector pensions as funding shortfalls could cost taxpayers £335bn (€371bn) in employer controbutions over the next 50 years.