Returns – Page 165
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News
Merseyside drops 17.7% in 2008-09
[16:55 CEST 12-06] UK – The Merseyside Pension Fund posted an annual return of -17.7% for the year ending March 2009, equivalent to a decline of £800m (€938m).
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News
Pensions funds buy back into equities
[16:00 CEST 12-06] NETHERLANDS – Dutch pension funds invested over €21bn in securities again in the first quarter of this year, though the bulk of that money headed for bonds and the purchase of equities did not offset losses, figures from the pensions regulator have revealed.
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News
Public sector liabilities hit £1.1trn
[17:20 CEST 11-06] UK – Unfunded public sector pension liabilities have reached £1.1trn (€1.29trn), according to research by the Policy Exchange, leading to calls for the arrangements to be switched to a funded basis through the creation of a new public sector pension body.
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Romanian second pillar back on schedule
ROMANIA – The IMF has agreed a financial aid package with Romania which will ensure, that the country can return to its original schedule for changes to second pillar contributions and in turn will put in place reforms.
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News
Northern Rock deficit revised to £60m
[17:05 CEST 11-06] UK – Trustees of the Northern Rock Pension Scheme have revised the estimated deficit in the plan down from £100m to £60m (€71m) following a provisional funding agreement with the government, subject to review later in the year.
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News
BIS rejects 'Royal Mail sale is dead' claim
[17:10 CEST 09-06] UK – The Department for Business, Innovation and Skills (BIS) has rejected reports suggesting the part-privatisation section of the Postal Services Bill has been scrapped, claiming all three parts of the Bill will go ahead as a "package", albeit with a potential delay.
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News
DB deficit sees £9bn improvement in May
[17:10 CEST 09-06] UK – The aggregate funding position of around 7,400 defined benefit (DB) schemes has improved by just over £9bn to a deficit of £179.3bn, according to the Pension Protection Fund (PPF).
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News
Royal Mail may shut scheme if gov't Bill fails
[17:20 CEST 08-06] UK – Royal Mail has warned it may be forced to close its £20bn (€22.98bn) defined benefit (DB) scheme if the government's plans for a part-privatisation of the company fail.
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News
DC pension contributions need to rise - Capita
[16:00 CEST 08-06] UK – The average contribution to company defined contribution schemes comfortably exceeds the minimum proposed for personal accounts due in 2012 yet bigger contributions are further needed, according to Capita Hartshead's 16th annual pensions administration survey.
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News
Irish funds recover some of 2008 losses
[16:10 CEST 04-06] IRELAND – Irish managed pension funds saw positive returns for the third month in a row to the end of May, and have now made gains since the beginning of the year, according to data from Rubicon Consulting.
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News
Swiss companies to feel pensions pressure – Credit Suisse
[16:20 CEST 03-06] SWITZERLAND – Credit Suisse has warned Swiss companies could suffer weakening of their credit ratings on bond holdings over the coming months as they may be required to tackle weighing pensions funding shortfalls.
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News
Irish deficits fall a third in two months
[16:10 CEST 03-06] IRELAND – Irish pension fund deficits are likely to have reduced by approximately one-third since March thanks to improved market conditions, but trustees are still being advised by Mercer to focus more on strategic than on operational issues.
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News
Philips scheme sees limited cover fall
[16:40 CEST 02-06] NETHERLANDS - The €12.5bn pension fund of electronics giant Philips saw only a limited decrease to its cover ratio during the first quarter of this year, compared with other pension schemes, as a relatively large part of its assets were invested in fixed income.
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News
Mistake could cut teachers' pensions by £100pm (amended)
[16:55 CEST 01-06] UK - Letters have been sent to 11,700 retired UK teachers warning that their pensions will be reduced to correct a previous overpayment by the scheme.
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News
Inflation wreaks havoc for top 200 UK schemes
[14:00 CEST 01-06] UK - Inflationary fears led to a massive deterioration in the accounting position of the UK's biggest pension funds in May, according to Aon Consulting.
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News
Swiss APK moves back into gains
[16:15 CEST 28-05] SWITZERLAND – The Swiss pensionskasse for the canton of Aargau returned 1.5% in the first four months of 2009 while the scheme for Solothurn has just reported a 14.8% loss for 2008.
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News
Somerset fund drops to £765m
[17:10 CEST 27-05] UK – Provisional figures suggest the Somerset County Council pension fund made a loss of 28% in the 2008-09 financial year, as the value of the fund dropped to a low of £765m (€878.6m) by the end of March.
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News
PensionDanmark returns 0.2% in Q1
[17:05 CEST 27-05] DENMARK – PensionDanmark has reported a positive net return of 0.2% in the first quarter of 2009, as the value of its premiums increased to DKK2.6bn (€349.3m).
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NewsCBI calls for 'smoothing' in pension valuations
[16:50 CEST 26-05] UK – The Confederation of British Industry (CBI) has claimed pure marked-to-market valuations "doesn't work for pensions schemes" and an "element of smoothing" should be introduced to protect balance sheets from extreme volatility.
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NewsDC assets see second month of growth
[14:45 CEST 26-05] UK – Defined contribution (DC) pension assets have grown for the second consecutive month to reach a combined total of £418m (€477bn), according to Aon Consulting,
