All articles by Nyree Stewart – Page 62
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NewsUK gov't discusses plans for surplus refunds
[15:45 CEST 11-09] UK – The UK government has confirmed it has issued an "informal discussion paper" in which it looks at the possibilities for allowing more flexibility for pension schemes to refund surpluses to employers.
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NewsThird of employers unsure of 2012 response
[15:15 CEST 11-09] UK – The National Association of Pension Funds (NAPF) has warned a third of organisations operating UK occupational schemes do not know what to do with their existing arrangements in response to the UK pension reforms, despite the implementation date being less than four years away.
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NewsMerseyside seeks admin provider to revamp systems
[15:00 CEST 11-09] UK – The £4.3bn (€5.4bn) Merseyside pension fund is seeking a pensions administration and pension payroll provider to update its computer systems.
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NewsScotland to pay police and fire pensions' changes
[14:30 CEST 11-09] UK – The Scottish government has pledged £32m (€40m) to meet the extra cost of revised pension arrangements for Scottish police and firefighters, after claiming the UK Treasury refused to fund the changes.
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Norway appoints actuary for pension reform
[14:15 CEST 11-09] NORWAY – The Ministry of Labour and Social Inclusion has entered into an agreement with an actuarial firm to provide consultancy services in connection with the ongoing pension reforms.
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NewsOver two-thirds of FTSE350 paid 'special' contributions
[17:00 CEST 10-09] UK – The number of FTSE350 companies making special additional contributions to their pension schemes has risen for the third year in a row from 58% to 66% in 2008, Mercer Consulting has revealed.
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NewsHymans replaces Mercer as Northants actuary
[14:30 CEST 10-09] UK – Northamptonshire County Council has appointed Hymans Robertson to provide actuarial services to the local government pension scheme, following a decision earlier this year to split the contract for investment and actuarial services.
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NewsAP4 and AP7 report first half losses
[17:05 CEST 09-09]SWEDEN - Fjärde AP-fonden (AP4), the Fourth Swedish National Pension Fund, saw assets drop SEK17.5bn (€1.8bn) in the first half of 2008, while Sjunde AP-fonden (AP7) reported negative investment returns for both the Premievalsfonden and the Premiesparfonden.
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NewsBankpension places €141m in value-tilt strategy
[14:00 CEST 09-09] DENMARK – Bankpension, a Danish fund offering company pension schemes to financial sector employees, has allocated $200m (€141m) of its assets to a value-tilted strategy run by State Street Global Advisers (SSgA).
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NewsNorway excludes Rio Tinto over environmental damage
[13:30 CEST 09-09] NORWAY – The Norwegian Government Pension Fund – Global has withdrawn NOK4.84bn (€604m) investment from Rio Tinto over concerns it is causing "severe environmental damage" through a joint mining operation in Indonesia.
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Irish Bill to stop pensions investment in cluster bombs
[13:00 CEST 09-09] IRELAND – The Irish government has drafted a new Bill on investment in munitions such as cluster bombs that will specifically change the investment policy of the National Pension Reserve Fund (NPRF).
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DB deficit increases to £36.7bn
[16:15 CEST 08-09] UK – The aggregated funding position of almost 7,800 UK defined benefit (DB) schemes worsened in August as the total deficit increased to £36.7bn (€45.5bn), the Pension Protection Fund (PPF) has revealed.
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Environment Agency's SRI drive boosted by equity awards
[16:00 CEST 08-09] UK – The Environment Agency's £1.5bn (€1.9bn) Active Pension Fund has awarded three new global equities mandates following the termination of contracts by State Street Global Advisors (SSGA) and Capital International.
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NewsAP1 pursues US small caps managers
[14:45 CEST 08-09] SWEDEN - Första AP-fonden (AP1), the first Swedish national pension fund, is seeking both passive and active US small cap equity managers for a total portfolio valued at $500m (€351.7m).
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NewsEuropean investors excluded from US class action
[14:15 CEST 08-09] EUROPE – A US federal judge has ruled institutional investors in France, the Netherlands and UK should be wholly or partially excluded from a US class action against French transportation manufacturer Alstom SA.
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NewsSwedish pensions maintain capital buffers
[15:30 CEST 05-09] SWEDEN – The Finansinspektionen (FI), Sweden's Financial Supervisory Authority, has confirmed no insurance company has received a red light under the traffic light system, despite the recent market volatility.
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Reforms to close two-thirds of small firm pensions
[15:15 CEST 05-09] UK – Over 60% of small employers believe the introduction of personal accounts and auto-enrolment will lead to an increase in the closure of existing schemes, according to the Association of Consulting Actuaries (ACA).
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Irish pension coverage fails to hit target
[15:00 CEST 05-09] IRELAND – The Irish government has been accused of failing to meet its pension coverage targets, as latest figures from the Central Statistics Office (CSO) revealed take-up among the key age group is just 61%.
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Oliver Wyman appointed to create 'fair' PPF levy
[14:45 CEST 05-09] UK – The Pension Protection Fund (PPF) has appointed Oliver Wyman to help develop a new formula for the calculation of the pension scheme levy.
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Industriens Pension returns -3.2%
[17:00 CEST 04-09] DENMARK – Falling equity markets caused the DKK49.3bn (€6.6bn) Industriens Pension to report a loss of 3.3% for the first half of 2008.
