All articles by Nyree Stewart – Page 51
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One in four plans up mortality assumptions
[16:30 CET 27-01] UK – More than a quarter of UK pension schemes are planning to switch to a long cohort mortality projection for their mortality assumptions, potentially increasing life expectancy by almost two years, suggests research from Mercer.
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West Sussex reappoints UBS to multi-asset role
[16:00 CET 27-01] UK – West Sussex County Council has reappointed UBS Asset Management to run an active, balanced multi-asset mandate for its local government pension scheme (LGPS).
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Pensioner-only focus to drive 2009 buyouts
[15:15 CET 27-01] UK – The buyout market in 2009 is expected to rise by another £8bn (€8.55bn), similar to 2008, though the focus is likely to be on pensioner-only transactions, according to Lane Clark and Peacock (LCP).
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Talking Point: The future of DB schemes
TALKING POINT – Research from the National Association of Pension Funds (NAPF) - suggesting 52%, or 1,000, open defined benefit (DB) schemes could close as a result of the impact of the economic crisis - has raised a debate on whether DB schemes can be saved.
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Dorset adds £30m to internal UK equity manager
[16:20 CET 26-01] UK – Dorset County Council Pension Fund has been advised to increase the assets run by its internal UK equity manager by £30m (€32m), to pull its overall UK equities portfolio back towards the strategic target allocation.
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Finland not 'prepared' for ageing challenges
[15:45 CET 26-01] FINLAND – Finland is still not "adequately prepared" to meet the challenges of an ageing population despite recent pension reforms, according to the Economic Council of Finland.
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2008 volatility hits more Finnish funds
[16:20 CET 23-01] FINLAND – Etera Mutual Pension Insurance Company has reported a €1.2bn fall in the value of its assets in 2008, according to preliminary figures while Eläke-Fennia saw a negative return of 12% and VER suffered further to lose 15% last year.
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Complaints rise 43% in 2008
[15:45 CET 23-01] IRELAND – Preliminary figures suggest complaints to the Irish Pensions Ombudsman increased by 43% in 2008, primarily driven by issues over the whereabouts of contributions.
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1,000 open DB plans could switch to DC [updated]
[15:00 CET 23-01] UK – More than 50% of open defined benefit (DB) pension schemes could close to new members as a result of the economic crisis, claims new research by the National Association of Pension Funds (NAPF).
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Tapiola Pension limits losses through equity cull
[16:15 CET 22-01] FINLAND – Preliminary figures from Tapiola Mutual Pension Insurance Company have revealed the firm generated a negative return of 8.3% in 2008, following its decision to reduce equity allocation over the year along with its lack of hedge fund exposure.
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NewsIrish MFS needs increase from 'junk' bond level
[16:00 CET 22-01] IRELAND – The minimum funding standard (MFS) for defined benefit (DB) pensions needs to be revised "as a matter of urgency" as it provides the same level of asset backing as a 'junk' bond, the Statistical & Social Inquiry Society of Ireland (SSISI) has warned.
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Varma loses 15% in 2008
[16:00 CET 21-01] FINLAND – Varma Mutual Pension Insurance Company has announced preliminary figures for 2008 showing the firm's investments made a loss of 15.2% last year.
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Royal Mail's £8bn deficit deterring investors
[15:30 CET 21-01] UK – The UK government will not be able to find a "strategic partner" to help modernise Royal Mail unless something is done about the pension deficit which is now estimated to stand at around £8bn (€8.52bn), Richard Hooper has warned.
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Swedish debt office highlights foreign currency demand
[13:00 CET 21-01] SWEDEN – Riksgälden, the Swedish National Debt Office (SNDO), has reported a strong demand for a new foreign currency bond, valued at around SEK 16bn (€1.5bn), the first to be issued by the organisation in two years.
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Swedish default fund loses over a third
[16:35 CET 20-01] SWEDEN – Premiesparfonden, the default fund in the Swedish Premium Pension System fell 36.2% in 2008, according to the latest figures from the Premium Pension Authority (PPM).
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SPK awards IT contracts for pension reform
[15:15 CET 20-01] NORWAY – Statens Pensjonskasse (SPK), the Norwegian Public Service Pension Fund, has appointed Accenture and Steria to develop a new system for the pension fund portfolio as part of the pension reform project.
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Merseyside awards equity roles and moves fixed income
[16:55 CET 19-01] UK – Merseyside Pension Fund has appointed four new investment managers to run a third of the £3.7bn (€4.1bn) scheme's allocation to UK equities, ahead of plans to start a new search for active fixed income managers.
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Pensions 'must be more responsible' or face legislation
[16:30 CET 19-01] UK – MPs, trade unions and members of the pensions investment industry have jointly backed a series of responsible investment proposals to get pension funds to "play their part" in creating a "sustainable financial system" or potentially face new regulation by 2010.
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Finnish local government fund drops 20% in 2008
[16:20 CET 19-01] FINLAND – The Local Government Pensions Institution (LGPI) has reported an overall investment return in 2008 of -20%, the worst figure in the institution's history.
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Camden fulfils first stage of restructuring
[14:00 CET 19-01] UK – Camden County Council has completed the first phase of its portfolio restructuring and confirmed the appointment of four new investment managers.
