Returns – Page 137
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NewsGerman roundup: Gothaer, Standard Life, Union
GERMANY – Only 38% of Germans are using second-pillar pension schemes, life insurance company Gothaer has found.
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NewsIreland's NPRF denies cut in pension contributions
IRELAND – The Republic of Ireland's National Pensions Reserve Board has denied government contributions to the fund will fall to less than 1% of GNP.
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Romanian pension funds return 13.3% to end of third quarter
ROMANIA – Pension funds in the Romanian mandatory second pillar returned 13.3% for the first nine months, according to the pension fund association APAPR.
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NewsAdjustment of existing Dutch pension contracts 'inevitable', experts say
NETHERLANDS – Dutch pension funds' existing pension contracts will have to be adjusted to have enough impact on the financial position of funds with shortfalls, risk management experts have claimed.
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NewsSwiss roundup: Complementa, Swisscanto, second-pillar reform
SWITZERLAND – The true amount of asset management fees paid by Swiss Pensionskassen is unclear and difficult to compare, according to consultancy Complementa.
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NewsSwisscanto justifies pension funding statistics
SWITZERLAND – Swisscanto has defended its figures on funding levels of Swiss Pensionskassen, saying divergences with official stats can be explained by differing samples and methods.
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NewsSwedish roundup: Alecta, Swedish Church Pension Fund
SWEDEN – According to a survey by Alecta, the pension and insurance provider, more than half of Sweden's entire working population (61%) would consider declining a salary increase in favour of higher occupational pensions.
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NewsHewitt: Ireland has highest reserve rates in Europe
IRELAND – Irish defined benefit (DB) schemes require the largest reserves out of 10 European countries, data from Hewitt has revealed.
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NewsInterest hedge sweeps Dutch cleaners pension scheme
NETHERLANDS – The €1.8bn pension fund for cleaners and window cleaners saw its 14% return on investments fall by 7.7 percentage points, largely due to its 75% hedge of the interest risk on its liabilities.
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NewsDenmark's Sampension returns 14% in first half
DENMARK – Major Danish pension fund Sampension reported a 14% pre-tax profit on investment for its with-profits scheme for the first half, bouncing back from a 3% loss in the same period last year due largely to bonds and Danish equities.
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NewsSwiss roundup: BVK, AFIAA, Canton Pensionskassen
SWITZERLAND – A parliamentary commission has been set up to investigate allegations of corruption at the Swiss public fund BVK.
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NewsDonner: Reinsurance still offers added value to Dutch schemes
NETHERLANDS – Dutch pension funds may continue to reinsure their risk with insurance companies as the practice still offers added value, according to social affairs minister Piet Hein Donner.
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NewsUK roundup: Pensions Regulator, Lehman Brothers, CBI, Mercer, KPMG
UK – The Pensions Regulator has issued a financial support direction against six insolvent Lehman Brothers subsidiaries, ordering them to supply funds to the companies' UK pension scheme.
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NewsNordic roundup: PIMCO, Storebrand, Catella Fondförvaltning, Söderberg & Partners, AI Pension
EUROPE – PIMCO, the US bond specialist, has appointed Storebrand, the Norwegian pension and insurance provider, for the SRI screening of one of its new bond funds, the PIMCO Emerging Markets SRI Bond.
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NewsDutch fund PFZW prepares for premiums rise, rights cuts
NETHERLANDS – The PFZW's 1.2m active participants may face a contributions increase of 2.5% – to a total of 25.6% of their pensionable salary – if the €96.5bn healthcare scheme fails to recover sufficiently, it said.
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NewsUK roundup: IMA, Legal & General, UNPRI, FTSE 350
UK – The Investment Management Association (IMA) has warned that new proposals to regulate the over-the-counter derivatives market could end up transferring all the risk to the end investor.
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NewsShortfall threatens entire Dutch pension system, says regulator
NETHERLANDS – Allowing shortfalls for a prolonged period will jeopardise the continuity of the entire Dutch pension system because young workers will try to escape the present pension contract if they must foot a disproportionately large part of the bill, according to pension supervisor De Nederlandsche Bank (DNB).
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NewsDutch coverage ratios showing signs of recovery
NETHERLANDS – Dutch pension funds' average coverage ratio has bounced back by 3% to 6% after reaching dramatic lows at the end of last month, according to consultants.
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Belgian pension funds return 3.2% in first half
BELGIUM – The Belgian Association of Pension Institutions (BAPI) has reported a weighted average return of 3.2% for the first half of 2010, compared with losses for the Eurostoxx and MSCI World indices of 10.9 % and 13.2%, respectively.
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NewsLow interest rates cause Dutch coverage ratios to plummet
NETHERLANDS – Europe's second-largest pension fund, ABP, has said its coverage ratio fell to 88% in August and attributed the drop on historically low interest rates.
