Returns – Page 161
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News
PfZW maintains 100% cover ratio
[16:00 CEST 23-07] NETHERLANDS – Pensioenfonds Zorg & Welzijn, the Dutch pension fund for care and welfare workers, has managed to hold onto the 100% cover ratio achieved by the end of May, thanks to a strong second quarter of gains in most asset classes.
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News
Flight staff scheme is best performer at KLM
[16:30 CEST 22-07] NETHERLANDS - A €5bn pension scheme for KLM flight staff suffered an investment loss of 9.2% last year, yet this is hailed as being the best performing pension fund of the airline’s three large schemes in 2008.
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News
CHF350m needed as special payment from Swiss employers
[13:00 CEST 22-07] SWITZERLAND – Recovery measures planned by various Swiss pensionskassen will not have a significant effect on the country’s economy, according to a Swiss federal government report.
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News
Pensions delivery body clocks up £11m accounting deficit
[16:55 CEST 21-07] UK – The Personal Accounts Delivery Authority (PADA) has ended the financial year to 31 March 2009 with a net accounting deficit of £11.1m (€12.8m) in its "general fund" of capital, as funding solely from the government was insufficient to meet annual costs of £30.9m.
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News
UN staff fund grew 12.3% in second quarter
[16:30 CEST 21-07] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) reported an increase of $3.5bn (€2.46bn) in the second quarter of 2009.GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) reported an increase of $3.5bn (€2.46bn) in the second quarter of 2009.
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News
Union finds corporate bond Spezialfonds in demand
[16:15 CEST 21-07] GERMANY – Frankfurt-based Union Investment saw net inflows of €3.8bn in the first half of 2009.
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News
Building society announces closing of DB fund
[14:35 CEST 21-07] UK – West Bromwich Building Society has announced it is closing its defined benefit (DB) scheme to existing members from next month.
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News
UK DC plan assets hit by falling markets
[16:45 CEST 20-07] UK – Falling global equity markets have caused the total assets in UK defined contribution (DC) plans to drop 2.3% to £420bn (€488bn), Aon Consulting has revealed.
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News
Interest and currency hedges help TNO limit losses
[16:40 CEST 20-07] NETHERLANDS - The €1.9bn pension fund of the institute for applied scientific research TNO managed to limit its loss to - 7.1% thanks to major hedging of both its interest and currency risks.
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News
OECD says DC needs 'careful' regulation after losses
[16:15 CEST 20-07] GLOBAL – The regulation of investment choices and default options in defined contribution (DC) pension schemes need to be more carefully implemented than has been done in the past, the Organisation for Economic Co-operation and Development (OECD) has warned.
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News
BA trustees give up guarantee to avoid insolvency
[17:00 CEST 17-07] UK – Trustees of the British Airways pension schemes have handed £330m (€382m) of contingent assets back to the airline as part of an effort to try and help improve the firm's liquidity and avoid insolvency.
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News
Barclays faces strike threat over DB closure
[16:15 CEST 17-07] UK – Barclays workers are to be balloted by Unite the Union for potential strike action over the closure of the final salary pension scheme.
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News
Gov't recommended to halt NPRF premiums
[15:45 CEST 17-07] IRELAND – The continual payment of 1% of GDP into the National Pension Reserve Fund (NPRF) is "difficult to justify" and should be suspended in an effort to control public spending and borrowing, a group known as An Bord Snip Nua has told the government.
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News
FTSE 100 cash pension deficit passes £300bn
[15:30 CEST 17-07] UK – The total cash amount needed to meet the deficits in FTSE 100 defined benefit (DB) schemes now exceeds £300bn (€349bn), according to global accounting and consultancy firm Deloitte.
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News
Slovak funds down amid 'dramatic changes'
SLOVAKIA – The six funds in the Slovak mandatory second pillar posted negative returns for the second quarter of this year, halving the six-months’ performance just as a new bill introduced structural changes.
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News
TNT doubles pension premiums to deliver security
[16:15 CEST 16-07] NETHERLANDS – TNT, the Dutch postal service, almost doubled the employer contribution into its pension fund starting from April, in a bid to improve the cover ratio of its pension scheme.
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News
Amex suspends UK pension contributions
[16:15 CEST 16-07] UK – American Express has confirmed it is suspending contributions into both its defined benefit (DB) and defined contribution (DC) schemes in the UK for 18 months.
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News
Dutch notaries and pharmacists face pension cuts
[13:00 CEST 16-07] NETHERLANDS - Approximately 5,000 participants of the pension fund for notaries could face an 8.4% cut in pension benefits and claims by 2012, while members of the SPOA scheme could see reduced pensions too.
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News
DNB rejects 'small number' of recovery plans
[17:00 CEST 15-07] NETHERLANDS - Pensions regulator De Nederlandsche Bank has rejected a ‘small number’ of recovery plans, and is still discussing fine-tuning recovery proposals with approximately 50 schemes.
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News
Norway Global gains lead to record assets
[16:40 CEST 15-07] NORWAY – The Government Pension Fund – Global has reported a continued increase in its fund value with a further NOK75bn increase in June to reach NOK2.383trn €262.9bn).
