All articles by Nyree Stewart – Page 54
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NewsKensington seeks custodian and increases equities
[15:40 CET 05-12] UK – The Royal Borough of Kensington and Chelsea (RBKC) is seeking a global custodian for its £409.6m (€478.9m) local government pension fund.
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NewsBaerum appoints consultant for new scheme
[15:50 CET 05-12] NORWAY – The Norwegian municipality of Baerum has appointed Pensjon & Finans AS to help establish a new pension fund.
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NewsLothian buses may increase alternatives
[15:25 CET 05-12] UK – The Lothian Buses Pension Fund, a part of the Lothian Pension Fund overseen by Edinburgh City Council, has been recommended to reduce its allocation to equities by 15% and switch the money into alternative assets.
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NewsIreland allows two-year annuity deferral
[15:15 CET 05-12] IRELAND – Members of Irish defined contribution (DC) occupational schemes have been given the option of deferring for two years the need to buy an annuity at retirement.
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NewsLothian action against Vodafone is dismissed
[17:20 CET 04-12] UK - A class action brought by Lothian Pension Fund against Vodafone, relating to its purchase of the German telecoms company Mannesmann, has been dismissed by a New York court.
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NewsCornwall targets passive global equities
[17:15 CET 04-12] UK – Cornwall County Council is seeking a passive global equity manager to run a new portfolio for its £823m (€951m) pension fund.
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NewsDanica to cut pension interest to 1.5% in 2009
[17:15 CET 04-12] DENMARK – Danica Pension, the DKK 241bn (€32.36bn) pension arm of Danske Bank, has announced it will pay a net interest rate of 1.5% for all customers with Danica Traditional pension plans.
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NewsFinnish pensions may require more risk-taking
[17:00 CET 03-12] FINLAND – The Bank of Finland has warned uncertainty about its ageing population and potential future tax rises of over 5% could destabilise the entire welfare state and lead to a future reduction in social services and transfers.
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NewsDanish pension interest could fall to 4%
[16:20 CET 03-12] DENMARK – Forsikring & Pension, the Danish Insurance Association, has warned pension customers are likely to see interest on their accounts fall below the base rate to at maximum of 4.5% in 2009.
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NewsDWP postpones revaluation cut
[16:15 CET 03-12] UK – The department for work and pensions (DWP) has confirmed the implementation date for the revaluation cap on deferred pension benefits has been postponed by four months until April 2009.
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NewsHammersmith prepares for 2009 adviser search
[13:15 CET 03-12] UK – The London Borough of Hammersmith & Fulham is to begin looking for a new investment consultant for its £432m (€512m) pension fund, to be appointed early next year.
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Danish pensions avoid 'red' traffic light
[17:00 CET 02-12] DENMARK – Finanstilsynet, the Danish Financial Supervisory Authority, has confirmed no life insurance companies and pension funds has triggered the 'red light' in its traffic light warning system.
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NewsIrish funds drop 4% in November
[16:55 CET 02-12] IRELAND – Irish managed pension funds fell 4% in November although there were signs of some stability towards the end of the month, Hewitt Associates has claimed.
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PADA highlights issues for non-UK savers
[16:30 CET 02-12] UK – The Personal Accounts Delivery Authority (PADA) has admitted there could be issues for non-UK residents in the future when it comes to accessing savings held in personal accounts.
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NPRF may be used to shore up Irish banks
[17:209 CET 01-12] IRELAND – Brian Lenihan, the minister for finance has confirmed the government could use the National Pension Reserve Fund (NPRF) "in certain circumstances" to shore up its banking industry and financial system.
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Shropshire to add second global bond portfolio
[17:20 CET 01-12] UK – Shropshire County Council is seeking a fund manager to runs a second global bond portfolio for its £750m (€890m) pension fund.
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Market crisis makes CWPS cases harder - Kenny
[17:15 CET 01-12] IRELAND – The Pensions Ombudsman has admitted the impact of the financial crisis on construction companies is making it harder to get contributions from employers who have failed to pass deductions onto the Construction Workers Pension Scheme (CWPS).
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Conflict potential should not discourage trustees
[17:05 CET 01-12] UK – The potential for conflicts of interests should not put people off from becoming a trustee, as resignation is now seen as the 'last resort', lawyers have claimed.
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Pension pressure improves human rights at Sodexo
[17:00 CET 01-12] SCANDINAVIA – Constructive dialogue by the Ethical Council of the Swedish AP-Funds has resulted in the service company Sodexo adopting a company-wide human rights policy, and has in turn led to it being re-instated as an investment option for the Norwegian life insurer Kommunal Landspensjonskasse (KLP).
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LGPS cost-sharing may lead to 'traffic light' system
[17:15 CET 28-11] UK – Regulations to introduce cost-sharing processes in local government pension schemes (LGPS) in England and Wales could result in the development of 'traffic light warnings" to trigger action against rising costs.
