All articles by Nyree Stewart – Page 84
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News
Trustees await fate of Northern Rock
[15:30 CET 05-02] UK – Trustees of the Northern Rock pension fund are still waiting for a guarantee about the scheme's future as Olivant has withdrawn its bid for Northern Rock, leaving the government to choose between nationalisation or one of the two remaining offers.
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Pensions Board unveils support service providers
[12:30 CET 05-02] IRELAND - The Irish Pensions Board has unveiled two lists of 10 companies it will use in the future to provide actuarial consultancy as well as policy and economic research services.
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Hewitt urges caution on Irish property
[12:00 CET 05-02] IRELAND – Consultants have urged trustees to diversify away from Irish property in the medium term, despite property funds averaging 6.9% returns in 2007.
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AP4 seeks 'standard' framework for passive global equities
[15:00 CET 04-02] SWEDEN – The fourth Swedish buffer fund, Fjärde AP-Fonden (AP4), has issued a tender for a passive global equities mandate valued at around €3bn.
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VER sees assets rise by €2bn
[14:00 CET 04-02] FINLAND – Valtion Elakerahasto (VER), Finland's state pension fund, has confirmed plans to further diversify its investment portfolio following a €2bn increase in its value.
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Failure to diversify increased deficits by £10bn
UK – The combined deficit of the UK's 200 largest pension funds increased to £12bn (€16bn) in January, as schemes failed to diversify into other growth assets, Aon Consulting has revealed.
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ASB changes will "fast-forward" demise of defined benefits
[16:00 CET 01-02] UK – The Accounting Standards Board (ASB) has been criticised by the industry for suggesting changes to existing accounting methods that could increase FTSE 100 pension deficits by around £80m (€107m).
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News
Lincolnshire splits £185m currency mandate
[14:00 CET 01-02] UK – Lincolnshire County Council pension fund has split a £185m (€247m) currency overlay mandate between two companies.
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'Unreal' figures 'mislead' accounting standards - Cass
[16:55 CET 31-01] UK – Existing pension accounting rules can be ‘misleading’ about the funded status of a defined benefit scheme, research from the Pensions Institute has revealed.
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News
Friends Prov to sell F&C and Lombard
[16:00 CET 31-01] UK – Friends Provident is looking to sell its 52% stake in F&C Asset Management, after it concluded the firm does not fit into its revised strategy.
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News
ASB calls for 'fundamental' accounting review
[16:58 CET 31-01] UK – Existing accounting standards should be ‘fundamentally reviewed’ with pension funds expected to include future benefit liabilities on its financial statements, the Accounting Standards Board has claimed.
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News
Czech Republic "needs early reforms" - IMF
[16:30 CET 30-01] CZECH REPUBLIC – The International Monetary Fund (IMF) has warned the Czech Republic it needs to implement early reforms to its state pension system if it wants to "put public finances on a sustainable path".
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News
UK "hiding" £1.1trn true cost of unfunded liabilities (amended)
[14:30 CET 30-01] UK – The UK government is hiding the true cost of unfunded public sector pensions by refusing to conform to international accounting standards and using two different discount rates in calculations, a former Bank of England economist has claimed.
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News
'Loophole' revealed in personal accounts contributions
[13:00 CET 30-01] UK – Occupational schemes which offer an employer contribution of at least 6% could be allowed a three-month waiting period before auto-enrolling employees, the government has confirmed.
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News
PADA rejects flat fee for personal accounts
[16:00 CET 29-01] UK – The Personal Accounts Delivery Authority has issued a consultation on the proposed charging structure for the new regime, but has rejected the idea of a 'flat fee'.
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News
Providers may be 'forced' to offer enhanced annuities
[12:00 CET 29-01] UK – A 35% increase in the sale of enhanced annuities in 2007 could force more standard annuity providers to enter the enhanced market as a "defensive measure", Watson Wyatt has revealed.
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NewsSchemes warned of deficit risk from markets
[16:55 CET 28-01] GLOBAL/UK – Falling equity markets combined with lower bond yields and increasing longevity could push schemes back into deficit in 2008, the International Financial Services London has warned.
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NewsSchemes to increase focus on risk hedging
[14:30 CET 28-01] UK – Pension funds will place more emphasis on risk hedging in 2008, but will continue to move towards absolute return strategies, fund managers have predicted.
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NewsEtera profit drops 3.3% in 2007
[14:00 CET 28-01] FINLAND – Etera Mutual Pension Insurance Company has reported a profit of 4.4% in 2007, a fall of more than 3% from the previous year.
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NewsUK accused of breaching 'loyal cooperation' over Eq Life
[12:00 CET 28-01] EUROPE/UK – MEPs have accused the UK of breaching its "duty of loyal cooperation" between EU institutions and member states by failing to respond to a report on the collapse of the insurer Equitable Life.
