All articles by Nyree Stewart – Page 52
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News
Isle of Man to consult on unifying public pensions
[16:30 CET 16-01] UK – The Isle of Man has confirmed it will begin a three-month consultation next month over proposals to replace 15 of the island's 20 public sector pension plans with a new unified scheme.
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Auto-enrolment set for October 2012
[16:30 CET 16-01] UK – Auto-enrolment into occupational pension schemes, including personal accounts, is not expected to begin until October 2012, the Personal Accounts Delivery Authority (PADA) has revealed.
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ISEQ pension deficit estimated at €7.8bn
[15:45 CET 16-01] IRELAND – The aggregate deficit in pension schemes belonging to companies on the Irish Stock Exchange (ISEQ) increased to €7.6bn, according to latest estimates by Mercer.
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TPR seeks support for employer compliance
[15:30 CET 16-01] UK – The Pensions Regulator (TPR) has launched the search for a provider to develop an employer compliance regime in relation to the new system of personal accounts.
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IBEC criticised over pension reform plans
[15:00 CET 16-01] IRELAND – The Irish Business and Employers Confederation (IBEC) has been criticised for recommending new public sector workers should be offered entrance to a defined contribution (DC) scheme with a state guarantee of certain minimum investment returns instead of the existing define benefit (DB) schemes.
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News
Gov't offers Eq Life apology but limits compensation
[16:15 CET 15-01] UK – The UK government has accepted charges of maladministration in some areas relating to the near collapse of Equitable Life, but has only agreed to set up a payment scheme for policyholders "disproportionately" affected by the event.
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News
PADA targets admin in first tender
[15:45 CET 15-01] UK – The Personal Accounts Delivery Authority (PADA) has launched its procurement process for services, to establish the new system of personal accounts, with a search for a scheme administrator.
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Ilmarinen lost 17% in 2008
[15:30 CET 15-01] FINLAND – Ilmarinen Mutual Insurance Pension Company has reported an annual return on investments of -17.5% in 2008, but has warned it will not look to fill the gap by "panicking and selling shares".
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News
Older workers may opt for retirement delay
[16:45 CET 14-01] UK – Almost a fifth of workers aged between 45-54 expect to delay retirement by at least five years because of the current economic climate, according to Life Trust.
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News
POB to consult on quality rules for pension actuaries
[16:40 CET 14-01] UK – The Professional Oversight Board (POB), an operating body of the Financial Reporting Council (FRC), is to consult on possible improvements to the professional quality assurance requirements for actuaries, following a review of the monitoring and scrutiny of actuarial work.
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News
Xafinity to take on Hackney admin
[16:35 CET 14-01] UK – The London Borough of Hackney Council has appointed Xafinity Paymaster to manage its pension administration and pension payroll services.
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NewsNBIM picks London as real estate base
[16:20 CET 09-01] NORWAY/UK – Norges Bank Investment Management (NBIM) has increased the office space of its London branch to cope with an increase in new employees and to act as a base for the organisation's real estate investment team.
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NewsHymans replaces P-Solve at Kensington
[15:45 CET 09-01] UK – Hymans Robertson has replaced P-Solve Asset Management as investment consultants for the London Borough of Kensington and Chelsea's pension fund.
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NewsBrent to up infrastructure assets by 5%
[16:40 CET 08-01] UK – The London Borough of Brent is looking to increase its exposure to infrastructure in its £400m (€436m) local government pension scheme (LGPS).
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News
Cardiff splits £40m currency mandate
[16:00 CET 07-01] UK – Cardiff County Council has appointed two active currency managers to improve the diversification of its local government pension fund.
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NewsNorway reviews Israel holdings over Gaza
[16:00 CET 07-01] NORWAY – Norway is reviewing whether the current Gaza conflict means its state pension fund is breaching ethical guidelines.
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NewsIrish pensions drop €27bn in 2008
IRELAND – Irish pension funds lost €27bn in 2008, following a final fall of 3.1% in December, Rubicon Investment Consulting has revealed.
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News
HBOS trustees seek to delay Lloyds deal
UK – The trustees of the HBOS Final Salary Pension Scheme (FSPS) have prepared a report to present in court in a bid to delay the merger between Lloyds TSB and HBOS over concerns the deal will weaken the employer covenant to the defined benefit scheme.
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News
Waterford Wedgwood UK schemes head for PPF
UK/IRELAND – Defined benefit (DB) schemes belonging to the UK businesses of failed china firm Waterford Wedgwood are likely to end up in the Pension Protection Fund (PPF), although the future is more uncertain for members in Ireland where this is no equivalent 'lifeboat fund'.
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News
Fifth of small schemes to cut UK equities in 2009
UK – More than 20% of the smallest firms offering defined benefit (DB) schemes plan to decrease their allocation to UK equities over the next year, research from the Association of Consulting Actuaries (ACA) has revealed.
