All articles by Nyree Stewart – Page 76

  • News

    Consultants warn against DC over-regulation

    2008-04-28T11:00:00Z

    [12:00 CEST 28-04] UK – Consultants have warned against over-regulation of defined contribution (DC) schemes, following criticism of The Pensions Regulator's (TPR) existing approach by the House of Commons Public Accounts Committee.

  • News

    Gov't rejects plans to force ESG on PADA

    2008-04-25T14:00:00Z

    [15:00 CEST 25-04] UK – The UK government has rejected amendments forcing the Personal Accounts Delivery Authority (PADA) to take account of the UN Principles for Responsible Investment (UN PRI), because personal accounts should not "set an example" for other schemes.

  • News

    Czech should consider 'mandatory' DC switch - OECD

    2008-04-25T12:00:00Z

    [13:00 CEST 25-04] CZECH REPUBLIC – A mandatory switch to a defined contribution (DC) system, to phase out the existing 'full' pay-as-you-go (PAYG) pension system should be an option for Czech pension reform, claimed the Organisation for Economic Cooperation and Development (OECD).

  • News

    Improving DC governance is key TPR target

    2008-04-25T11:30:00Z

    [12:30 CEST 25-04] UK – Improved governance standards in defined contribution (DC) schemes and the design and development of its role in personal accounts are two of the key challenges The Pensions Regulator (TPR) will face over the next three years.

  • News

    Public sector faces £30bn shortfall by 2011

    2008-04-24T15:10:00Z

    [15:10 CEST 24-04] UK – Contributions paid to public sector pension schemes over the next five years are forecast to be £30bn (€37.4bn) lower than the value of benefits built up, figures from HM Treasury have revealed.

  • News

    Lothian takes co-lead against BP

    2008-04-24T14:00:00Z

    [15:00 CEST 24-04] UK – The £3.1bn (€3.9bn) Lothian pension fund has been granted co-lead plaintiff status in a class action case against BP, for "recklessly failing" to maintain pipes which in turn led to the oil leak in Prudhoe Bay, Alaska in 2006.

  • News

    Grangemouth talks stall but gov't 'expert' on standby

    2008-04-24T13:30:00Z

    [14:30 CEST 24-04] UK – Industrial action at the Grangemouth oil refinery is expected to go ahead after negotiations broke down, although the offer of an independent inquiry funded by the Scottish government is "still on the table".

  • News

    TPR's buyout powers will be 'constrained'

    2008-04-23T14:00:00Z

    [15:00 CEST 23-04] UK – The Pension Regulator's extended anti-avoidance powers will be "constrained" by accompanying guidance, Mike O'Brien the minister for pensions reform has confirmed.

  • News

    Swedish local government pensions hit SEK156bn

    2008-04-23T13:30:00Z

    [14:30 CEST 23-04] SWEDEN – The total pension liabilities of the Swedish local government is SEK156bn (€17bn), according to research from Danske Capital.

  • News

    Trustees face communication gap over DB longevity

    2008-04-23T11:00:00Z

    [12:00 CEST 23-04] UK – More than 50% of trustees believe their defined benefit (DB) scheme will last more than 20 years into the future, suggesting there is a "significant communication gap" with employers, Aon Consulting has claimed.

  • News

    Northumberland delays ALM and adviser reviews

    2008-04-22T14:15:00Z

    [15:15 CEST 22-04] UK – Northumberland County Council pension fund has delayed its triennial asset liability modelling (ALM) study until the autumn because of local councillor elections.

  • News

    'Difficult' SWF rules will not ease concerns

    2008-04-22T12:30:00Z

    [13:30 CEST 22-04] GLOBAL – Making the operation of sovereign wealth funds (SWFs) "more difficult" will not solve political concerns, a paper from the Bank of Finland Institute for Economies in Transition (BOFIT) has claimed.

  • News

    TI Group agrees partial buyout with L&G

    2008-04-21T15:15:00Z

    [16:15 CEST 21-4] UK – The TI Group Pension Scheme (TIGPS), one of the schemes belonging to the engineering firm Smiths Group, has agreed a £250m (€312m) partial annuity buyout deal with Legal & General.

  • News

    Parmalat sues Hermes for €5bn over collapse

    2008-04-21T15:10:00Z

    [16:10 CEST 21-4] ITALY/UK –Parmalat, the Italian food group, is suing Hermes Focus Asset Management Europe for more than €5bn in damages on the grounds of that it worsened the "financial distress" relating to the firm's collapse in 2003.

  • News

    AP Funds in dialogue with 13 firms over 'ethical breaches'

    2008-04-21T15:00:00Z

    [16:00 CEST 21-4] SWEDEN – The Ethical Council of Sweden’s First-Fourth AP Funds has confirmed it is currently engaged in "active" dialogue with 13 companies over breaches relating to human rights, labour laws, corruption and the environment.

  • Private equity to shun buying DB sponsors
    News

    Private equity to shun buying DB sponsors

    2008-04-18T15:45:00Z

    [16.45 CEST 18-04] UK – The British Private Equity and Venture Capital Association (BVCA) has confirmed it is considering recommending members not to buy companies with defined benefit (DB) pension plans, following the government's decision to increase the enforcement powers of The Pensions Regulator (TPR).

  • News

    Varma and Ilmarinen in negative territory

    2008-04-18T15:40:00Z

    [16:40 CEST 18-04] FINLAND – Instability in equity markets has caused two Finnish pension insurance companies - Varma and Ilmarinen – to report negative investment returns for the first three months of 2008.

  • News

    IBEC calls for 'radical' public pension reforms

    2008-04-18T11:00:00Z

    [12:00 CEST 18-04] IRELAND – The Irish Business and Employers Confederation (IBEC) has called on the government to implement more radical reforms in public sector pensions, including a cap on contributions.

  • News

    Surrey to seek advice as WW leaves LA market

    2008-04-18T10:00:00Z

    [11:00 CEST 18-04] UK – Surrey County Council is expected to issue a tender for a new investment adviser in the next few months after Watson Wyatt confirmed it is withdrawing from the local authority pension fund investment consultancy market.

  • News

    Firm fined for PRSA non-compliance

    2008-04-17T15:55:00Z

    [15:55 CEST 17-04] IRELAND – The Irish Pensions Board has successfully prosecuted an employer for failing to provide information relating to the provision of a Personal Retirement Savings Account (PRSA).