All articles by Nyree Stewart – Page 69
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News
Kingston restructures 'inefficient' portfolio
[12:30 CEST 07-07] UK – The Royal Borough of Kingston Upon Thames has started the restructuring of its pension fund investment portfolio by issuing four management tender notices.
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BAA staff accept final salary closure
[15:47 CEST 04-07] UK – 71% of union members have voted to accept a pensions package from the British Airport Authority (BAA), which will see the final salary scheme closed to new entrants and replaced by a defined contribution (DC) scheme.
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One-fifth of potential Scot Wids claimants in talks with ARC
[15:45 CEST 04-07] UK – The Actuarial Review Company (ARC) says it is now in talks with more than 20 sets of trustees who believe they may have suffered from allegedly negligent advice given by Scottish Widows to switch from a deferred annuity guaranteed contract to the insurer's pensions managed ...
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Sweden sells E4.4bn real estate arm to AP
[15:45 CEST 04-07] SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
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Private sector membership falls by 400,000
[15:50 CEST 04-07] UK – The overall number of active members in occupational pension schemes has fallen by 400,000 over the last year to 8.8 million, according to the Office of National Statistics (ONS).
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Irish Labour Court rules on RTÉ dispute
[16:15 CEST 03-07] IRELAND – The Irish Labour Court has backed the proposal of an optional hybrid pension scheme as a solution to the dispute between RTÉ and the RTÉ Trade Union Group (TUG) on pension provision.
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Irish managed funds drop 21% in a year
[15:45 CESt 03-07] IRELAND – Irish pension funds have been caught in a "perfect storm" of stock market declines, as managed pension funds fell 21% in the 12 months to June 2008, Hewitt Associates has revealed.
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North Yorks re-signs Mercer and reviews fixed income
[15:00 CEST 03-07] UK – North Yorkshire County Council has reappointed Mercer to provide actuarial services for its local government pension scheme for a further six years.
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TPR finalises wind-up guidance
[13:00 CEST 02-07] UK – The Pension Regulator (TPR) has issued final guidance to help trustees of occupational pension schemes complete key wind-up activities within two years, supported by three new e-learning modules.
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Gov't wants 'formal' research into 50% MNTs
[12:00 CEST 02-07] UK – The UK government says more "formal" research is needed to assess potential issues before the government will increase the legal requirement for member-nominated trustees (MNTs) on pension boards from one-third to 50%.
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Hammersmith & Fulham award 'dynamic' mandates
[11:00 CEST 02-07] UK – The London Borough of Hammersmith and Fulham has appointed two managers to run specialist dynamic asset allocation portfolios for its pension fund.
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Berkshire diversifies away from equities
[16:00 CEST 01-07] UK – The Royal County of Berkshire Pension Fund is implementing a new risk management and diversification investment strategy, which involves moving away from its current target allocation of 70% equities.
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News
Aon200 index reveals £30bn deficit
[15:45 CEST 01-07] UK – Trustees need to consider more frequent monitoring of the employer covenant as falling equity markets wiped £36bn (€46bn) from the value of the top 200 UK defined benefit pension scheme and created an aggregate deficit of £30bn, Aon Consulting has revealed.
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News
AP6 takes joint ownership of Admeta
[13:00 CEST 01-07] SWEDEN - Sjätte AP-fonden (AP6), the Swedish pension buffer fund, has become a joint owner of the internet marketing company Admeta.
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News
Tesco appoints Hewitt as investment adviser
[12:30 CEST 01-07] UK – Tesco Pension scheme has appointed Hewitt Associates to replace Watson Wyatt as its investment adviser.
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Berkshire to increase alternatives exposure
[16:30 CEST 30-06] UK – The £1.49bn (€1.88bn) Royal County of Berkshire Pension Fund has confirmed its intention to move into emerging market debt and infrastructure with the issue of two new manager tenders.
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1 in 9 unable to save for retirement
[16:15 CEST 30-06] UK – Approximately 60% of the UK population not currently saving for retirement claim they cannot afford to put money aside, a study by Scottish Widows has revealed.
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News
John Lewis moves to boost DB take-up
[16:00 CEST 27-06] UK – The John Lewis Partnership is to improve its pension offering by reducing the waiting period for staff to join the final salary scheme and to introduce a new defined contribution scheme for new employees.
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News
Gov't to consult on targeting TPR buyout powers
[15:35 CEST 27-06] UK – The UK government has claimed regulations extending the powers of The Pension Regulator (TPR), to allow it to force employers to contribute to pension schemes in certain circumstances, will "renew trust" in pensions so people can save with confidence.
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News
Airline union faces strike over staff pension closure
[13:00 CEST 27-06] UK – The GMB union has confirmed the British Air Line Pilots' Association (BALPA) will face industrial action by its own employees on July 2 over changes to its final salary pension scheme.
