All articles by Nyree Stewart – Page 71
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News
PADA to start administration search in 2009
[13:30 CEST 19-06] UK – The Personal Accounts Delivery Authority (PADA) has revealed it intends to issue a tender for scheme administration services for the new system of personal accounts in January 2009 with the contract expected to be awarded by the summer of 2010.
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BT denies plans to close DB scheme
[16:30 CEST 16-06] UK – BT has denied it is planning to close any of its pension schemes, including the £37.3bn (€47.4bn) defined benefit BT Pension Scheme, following a threat of strike action from unions over the firm's pension review.
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News
AEGON sets top Czech return rate
[16:30 CEST 16-06] CZECH REPUBLIC – AEGON pension fund has set a rate of return of 4.5% for 2007 - more than two percentage points higher than the largest Czech pension fund Ceske Pojistovny (PFCP).
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Merseyside tenders European equities mandate
[16:20 CEST 16-06] UK – The £4.3bn (€5.5bn) Merseyside Pension Scheme is seeking an European equity manager to run a portfolio valued at approximately £135m.
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News
Royal Mail given "last chance" to avoid strike threat
[16:35 CEST 13-06] UK – Royal Mail could face further pension strikes unless it provides a "satisfactory response" to concerns over pension changes, the Communication Workers Union (CWU) has warned.
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News
Diverting tax reliefs to state pension is "unsound"
[16:30 CEST 13-06] IRELAND – Green paper proposals to reduce or eliminate tax incentives for pensions and divert the money into a higher state pension are "fundamentally unsound", according to the Irish actuarial consultancy Life Strategies.
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News
Hermes outsources BTPS custody to Northern Trust
[16:25 CEST 13-06] UK – Hermes Fund Managers has outsourced its middle-office investment operations, custody and fund administration to Northern Trust.
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News
Hertfordshire extends global equity portfolio
[14:00 CEST 12-06] UK – Hertfordshire County Council pension fund has appointed three new global equity investment managers on a £9.4m (€11.9m) contract, which includes a replacement for Capital International.
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News
Northumberland LGPS loses £41m in Q1
[13:30 CEST 12-06] UK – Northumberland County Council pension fund lost almost £41m (€52m) from the value of its assets in the first three months of 2008.
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News
Pensioner income increased by £10 in 2006/07
[11:00 CEST 12-06] UK – Over 50% of pensioners received an average income of £156 a week from occupational pension schemes in 2006/07 - a rise of just £10 a week on the previous year, according to UK government figures.
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News
Norway warns US regs could deter foreign investors
[15:00 CEST 11-06] NORWAY – The Norwegian Ministry of Finance has warned the US that proposed regulations on foreign investment could have the "side-effect of deterring foreigners from investing in the US".
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News
HSBC consults on DB cost-sharing options
[14:30 CEST 11-06] UK – HSBC is consulting members on a series of options for employees to share the costs of maintaining its defined benefit (DB) scheme, including introducing employee contributions of up to 5% by 2012.
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News
Hewitt loses Manweb to Mercer
[13:30 CEST 11-06] UK – Trustees of the £800m (€1bn) Manweb Group part of the Electricity Supply Pension Scheme (ESPS), has appointed Mercer to provide investment consulting services to its defined benefit (DB) scheme.
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News
2007 returns fall to 2.4% for PFČP
[16:20 CEST 10-06] CZECH REPUBLIC - Penzijní fond Ceské pojištovny (PFCP), the largest pension fund in the Czech republic, has reported a fall in returns to just 2.4% following the recent credit crisis.
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NewsNPRF to adopt risk measurement system
[16:15 CEST 10-06] IRELAND – The National Treasury Management Agency (NTMA) is seeking a provider of a risk measurement system for the National Pension Reserve Fund (NPRF).
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NewsTwo-thirds of trustees not seeking final settlement
[16:10 CEST 10-06] UK – Companies must take the initiative and "drive forward" solutions to manage pension liabilities, as 66% of trustees have not actively considered ways to finally settle the scheme's liabilities, Deloitte has claimed.
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NewsBaerum seeks help establishing new pension fund
[16:45 CEST 09-06] NORWAY – The Norwegian municipality of Baerum is seeking consultancy services to help in the establishment of a pension fund.
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NewsPPF Index shows DB surplus passes £50bn
[16:15 CEST 09-06] UK – The Pension Protection Fund's (PPF) 7800 Index has reported a second consecutive month of increases to record an aggregate surplus of £53.4bn (€67.1bn) at the end of May.
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News
Gov't paper may lead to risk-sharing in 2009
[15:45 CEST 09-06] UK – The UK government's timeframe for consulting on alternative risk-sharing approaches for pension schemes could allow certain ideas to be included in the Pensions Bill 2008, the Association of Consulting Actuaries (ACA) has claimed.
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News
IMA calls for stricter disclosure by consultants
[14:00 CEST 09-06] UK - All external advisers to pension funds, particularly investment advisers, should be more transparent about conflicts of interest between their commercial interests and their fiduciary duties, the Investment Management Association (IMA) has warned.
