All articles by Nyree Stewart – Page 86
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Trustees await Northern Rock guarantee
[16:30 CET 16-01] UK – Trustees of the Northern Rock Pension Scheme have yet to receive a guarantee regarding its pension deficit despite and the scheme's future, following questioning of the Board at the Extraordinary General Meeting.
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Generous PPF benefits cause 'unfair' levy
[15:30 CET 16-01] UK – The Pension Protection Fund is penalising better-funded schemes in an effort to meet the costs of "very generous" benefits, claimed Hymans Robertson.
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Northern Rock board defeats hedge funds
[16:55 CET 15-01] UK – Shareholders in Northern Rock have failed to pass resolutions that would have required the Board to receive further shareholder approval before selling assets worth more than 5% of the company.
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Italian annuity review delayed until 2010
[16:40 CET 15-01] ITALY – The Italian government has delayed and "watered-down" pension reform proposals so they will do little to resolve the huge financial burden of the current system, Watson Wyatt has claimed.
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Gilts push DB deficit towards £20bn
[11:30 CET 15-01] UK – Falling gilt yields have increased the aggregate deficit of almost 7,800 defined benefit schemes to £19.6bn (€25.79bn), according to latest figures from the Pension Protection Fund.
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Police push for centralised scheme
[16:50 CET 14-01] UK – Grampian Joint Police Board is calling on the Scottish Government to establish a national police pension fund to avoid schemes having to plug deficits from their policing budget.
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Call for Hain to "explain or resign"
[15:30 CET 14-01] UK – Peter Hain, Secretary of State for Work and Pensions, should either explain his actions "convincingly" or leave his post, following scandals behind the funding of his attempted election as party deputy leader, the UK's opposition leader David Cameron has warned.
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MP seeks closure on pensions 'apartheid'
UK - The UK's Conservative Party has suggested MPs should close their final salary scheme to new members in an attempt to help avoid a future "pensions apartheid".
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Pensions Board to expand information offering
IRELAND - The Pensions Board plans to expand its information team with the appointment of a new assistant head of information.
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Open DB landscape to stay 'relatively stable'
[16:15 CET 04-01] UK – Only 1% of private sector defined benefit schemes expect to close to current employees before 2013, the National Association of Pension Funds has revealed.
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NewsTrident workers prepare to strike
[15:30 CET 04-01] UK – Workers at the Atomic Weapon Establishment have agreed to ballot for strike action if the Ministry of Defence will not negotiate over planned changes to the final salary pension scheme.
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Unions scrap strikes after BAA climbdown
[17:00 CET 03-01] UK - Strikes at seven British airports have been called off after BAA scheme members voted to accept a pensions deal.
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Irish funds drop 2.5%
[16:15 CET 03-01] IRELAND – Pension managed funds fell 2.5% over the last year, to record the first negative end to a year since 2002, Hewitt Associates has revealed.
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Yukos pensioners eye Russian compensation
[16:00 CET 03-001] RUSSIA - The pension fund of the bankrupt oil company Yukos is seeking compensation from the Russian Federation that could reach $450m (€305m).
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IAPF suggests 'best practice' member contact
[16:30 CET 02-01] IRELAND – The Irish Association of Pension Funds (IAPF) has published a working paper outlining best practice for maintaining contact with deferred members.
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Actuaries call for 'radical' reforms over 'tinkering'
[15:30 CET 02-01] UK – The Association of Consulting Actuaries has warned more radical pension reforms are needed to avoid an "unsustainable" and "dangerous" gulf between private and public sector pension provision.
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FTSE 100 schemes hit £15bn surplus
[14:00 CET 02-01] UK - Final salary schemes belonging to companies in the FTSE 100 reached an aggregate surplus of £15bn (€20.3bn) in 2007, consultancy Deloitte has revealed.
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Consultants to help PPF create 'fair' levy
[16:00 CET 21-12] UK - The Pension Protection Fund is in the process of hiring consultancy services to help it develop a new pension scheme levy formula.
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KKR agrees pensions deal in bid for Northgate
[16:00 CET 21-12] UK - Private equity firm Kohlberg Kravis Roberts & Co has agreed a deal with pension trustees as part of its £593m (€744m) takeover offer for Northgate Information Solutions.
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AP2 loses CIO to Nordea
[15:30 CET 21-12] SWEDEN - The Second Swedish Pension Fund has lost its second chief investment officer in less than two years.
