Returns – Page 159
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News
Positive gain for Varma ups assets by €2bn
[16:50 CEST 17-08] FINLAND – Varma Mutual Pension Insurance Company reported a first half return of 4.6%, resulting in the value of the investments increasing by almost €2bn to €26.5bn.
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Czech funds see fresh growth in 2009
CZECH REPUBLIC – The 10 pension funds of the Czech third pillar returned an average of 3.1% in the first half of 2009.
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Norway-Global to drill water management
[16:00 CEST 17-08] NORWAY – A revised strategy for active ownership has been adopted by the Executive Board of Norges Bank for the Norway Government Pension Fund – Global, to include a new focus area on water management.
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News
Merger to create new fund for Swiss canton Valais
SWITZERLAND – The Swiss canton of Valais is finalising a merger between its two public pension funds, to increase the funding level and eventually change from a DB to a DC scheme.
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Czech Allianz fund grows assets to €283m
CZECH REPUBLIC – The Czech third pillar fund of Allianz posted an increase in members, assets under management and profit for the first half of 2009.
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Basel fund proposes contribution hike for 19 years
SWITZERLAND – The government of the Swiss canton of Basel City has refined recovery plans for the civil servants fund PKBS, which will include a one-off payment of CHF 1.12bn (€730m).
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ING in insurance rethink
EUROPE - ING is to integrate its Dutch insurance activities under the Nationale Nederlanden brand, and will create a single insurance operation in the rest of Europe, including Central Europe.
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News
Improved equity returns lower pension deficits
[16:55 CEST 11-08] UK – Positive activity in the equity markets lowered the UK’s total pensions deficit last month, however the aggregate funding level of UK pension funds is still at a deficit of £158bn (€184bn).
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Romania sees fresh growth in 2009
ROMANIA – Second pillar funds in the Romanian pensions market performed a fraction better in the first seven months of this year than third pillar funds, according to the latest figures from the Romanian Pension Funds’ Association (APAPR).
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News
BT assets covered 57% of benefits in 2008
[16:10 CEST 10-08] UK – BT Pension Scheme, the £31.3bn pension fund of the telecoms giant, would have had enough assets to cover 57% of members’ benefits with an insurance company by the end of 2008 had its sponsor collapsed, the latest annual report has revealed.
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News
Dutch premiums may need to rise by a third – study
[16:30 CEST 07-08] NETHERLANDS – Current pension contribution levels may have to rise by an average of one-third by 2014, if pension funds are to recover their funding ratio to the required minimum of 105%, suggests research.
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News
ITV could have cut pensions deficit by £100m
[16:15 CEST 07-08] UK – ITV's pensions deficit had increased to £538m (€631m) on an IAS19 basis by the end of June. But the company has claimed this deficit could have been reduced by up to £100m if its proposals had been in place to cap pensionable salary increases to ...
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News
Keva posts 6.5% return in H1
[16:55 CEST 06-08] FINLAND - Kuntien eläkevakuutus (Keva), the local government pension institution, generated a return on its investments of 6.5% in the first half of 2009 following a continued rally from equity markets.
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News
Irish funds rose 6% in July
[16:40 CEST 06-08] IRELAND – Irish managed funds reported a positive performance for the fifth month in a row, after they returned of 6% in July.
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News
Dutch employers warn pensions must be cut
[15:30 CEST 05-08] NETHERLANDS - Dutch employers have called on pension arrangements to be cut, as the rapidly rising costs are said to be damaging the competitiveness of Dutch companies.
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News
AIB aggregate deficit exceeds €1.2bn
[15:00 CEST 05-09] IRELAND – The pensions deficit of Allied Irish Banks (AIB) - one of the institutions recapitalised by the National Pension Reserve Fund (NPRF) - rose by more than €150m in the first half of 2009, to €1.26bn.
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News
Belgian pensions make Q2 comeback
BELGIUM – Belgian pension funds have pulled back some of the losses seen in the financial turbulence of last year, as a strong performance in all sectors lifted funds within the second quarter, suggests data from Mercer.
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News
UNJSPF to monitor potential long-term risks
[16:40 CEST 04-08] GLOBAL – The UN Joint Staff Pension Fund confirmed it is closely monitoring market conditions “in the upcoming months” to identify and address potential long-term risks that could negatively impact the fund.
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NewsBPK recovery goes back to drawing board
[16:30 CEST 04-08] SWITZERLAND – The canton of Bern has rejected proposals for an increase in contributions to the Bernische pensionskasse (BPK).
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News
ITV consults on DB changes as deficit predicted to worsen
[16:00 CEST 04-08] UK – ITV has initiated a consultation with staff members over proposals to cap pensionable salary increases at 1% from January 2010, and is also offering pensioners the option of giving up pension increases on part of their pension in return for a "one-off uplift".
