All articles by Nyree Stewart – Page 59
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News
Royal Mail pension deficit hits £4bn
[16:55 CEST 23-10] UK – Royal Mail has confirmed its pension deficit in accounting terms has increased by more than £1bn (€1.26bn) between March and September 2008, to reach £4.04bn.
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NewsExpress scheme to close to future accrual
[16:40 CEST 23-10] UK – The National Union of Journalists (NUJ) has raised concerns about proposals to close Express Newspapers' defined benefit (DB) scheme to future accruals.
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News
PensionDanmark solvency four times the limit
[15:50 CEST 23-10] DENMARK – PensionDanmark has revealed its solvency position is more than four times higher than its statutory solvency requirements, despite admitting it will probably end 2008 with a negative investment result.
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News
Ilmarinen falls 9.4% as Finland acts on pensions solvency
[15:15 CEST 23-10] FINLAND – The €23.4bn Ilmarinen Mutual Insurance Pension Company has reported a negative return of -9.4% for the first nine months of 2008 and a loss of €2.3bn in the third quarter, but its solvency ratio could improve under Finnish government proposals to relax regulations.
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News
September fall hits Irish medium-term figures
[16:30 CEST 22-10] IRELAND – A 25% drop in the value of Irish managed pension funds over the 12 months to the end of September 2008 has had "a significant impact" on medium-term results, Attain Consulting has claimed.
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NewsLehman Brothers scheme enters PPF assessment
[16:20 CEST 22-10] UK – The Pension Protection Fund (PPF) has confirmed a section of the Lehman Brothers Pension Fund has entered the organisation's assessment period.
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NewsNorthumberland seeks investment adviser
[16:10 CEST 22-10] UK – Northumberland County Council has initiated a search for an investment adviser to its £640m (€815m) local government pension scheme.
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NewsUSS funding drops to 2005 levels
[12:45 CEST 22-10] UK – The Universities Superannuation Scheme (USS) has reported its funding level has fallen from 98% to around 77%, the same level it was three years ago.
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News
AP1 awards Australian firm €52m Asian mandate
[16:15 CEST 21-10] SWEDEN - Första AP-fonden (AP1), the First Swedish National Pension Fund, has awarded an AU$100m (€51.9m) Asian equities mandate to the Australian boutique investment firm Treasury Asia Asset Management (TAAM).
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NewsTPR buyout powers 'do not hamper innovation'
[17:10 CEST 21-10] UK – New Pensions Regulator (TPR) powers to protect the benefits of scheme members from some of the new alternatives to pension buyouts will "not have an undue impact on legitimate business activity", the government has claimed.
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NewsMerseyside reports negative returns
[14:15 CEST 21-10] UK – Merseyside Pension Fund has confirmed the value of its assets fell to £4.26bn (€5.47bn) prior to the recent market turbulence, following an overall investment return of -1.3% for the year to March 2008.
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News
LGPS investment regs need to be 'simplified'
[16:40 CEST 20-10] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) intends to recommend the government simplify and modernise the investment regulations for Local Government Pension Scheme (LGPS).
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NewsThird of UK workers cannot afford pensions
[16:35 CEST 20-10] UK – Almost half of the UK's working population is not currently contributing to a pension scheme, although a third claim this is because of affordability issues, research from the Society of Pension Consultants (SPC) has claimed.
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News
Hymans to advise lighthouse authorities
[16:30 CEST 20-10] UK – The General Lighthouse Authorities (GLAs) for the United Kingdom and Ireland have appointed Hymans Robertson to provide advice on a range of pension fund issues.
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NewsOPA calls for better policing of MNT rules
16:15 CEST 20-10] UK – The Pensions Regulator (TPR) has been urged not to "turn a blind eye" over the enforcement of member-nominated trustee (MNT) requirements simply because it has no legal powers, the Occupational Pensioners' Alliance (OPA) has claimed.
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News
Trustees' investment response needs to include employer
[17:10 CEST 17-10] UK – Scheme trustees need to include the views and position of the sponsoring employer when considering strategies to deal with the impact of the current financial turbulence, consultants have warned.
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NewsAP2 corporate governance targeted 115 AGMs
[17:00 CEST 17-10] SWEDEN - Andra AP-fonden (AP2), the Second Swedish National Pension Fund, has confirmed it exercised its voting rights at the annual general meeting (AGMs) of 115 companies in the year to June 2008.
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NewsMarket falls could see trustees breach SIPs
[16:55 CEST 17-10] UK – Financial turbulence and a fall in equity values could mean trustees are in breach of the scheme's Statement of Investment Principles (SIP) and could make further equity purchases necessary, Buck Consultants has warned.
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News
Public pensions worth three times more than DC
[17:10 CEST 16-10] UK – Recent pension reforms has reduced the average value of public sector pension schemes to 21% of salary, although this is still around three times higher than the average private sector defined contribution (DC) scheme, the Pensions Policy Institute has revealed.
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NewsHammersmith and North Yorks take opposing LDI positions
[17:00 CEST 16-10] UK – The London Borough of Hammersmith & Fulham and North Yorkshire County Council have appeared to take opposing positions on the use of Liability Driven Investment Strategies (LDI) in their pension funds.
