Returns – Page 166
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NewsBA's pension deficits hits £1.46bn
[17:15 CEST 22-05] UK – The aggregate accounting position of British Airways' (BA) two UK defined benefit (DB) schemes worsened by almost £1.2bn (€1.37bn) in the last financial year, to approximately £1.46bn.
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Public sector reform to boost Romanian pensions
ROMANIA – Second pillar pensions funds in Romania could see a significant boost to membership in the coming years, according to pension experts, as the government is introducing reforms to cut its budget deficit which include reducing the non-contributory pensions for some public sector workers.
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C&W reports £32m accounting deficit
[16:55 CEST 21-05] UK – Cable & Wireless has reported an accounting deficit in its main UK defined benefit (DB) pension fund of £32m (€36.5m), compared to a surplus of £375m a year earlier.
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BoI deficit almost doubles to €1.5bn
[16:55 CEST 20-05] IRELAND – The Bank of Ireland's defined benefit (DB) pension deficit has almost doubled over the last year to €1.48bn.
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NewsNorway-Global dropped 4.8% in Q1
[16:45 CEST 20-05] NORWAY – The Government Pension Fund – Global underperformed the benchmark by 0.35 percentage points in the first three months of 2009 with a quarterly return of -4.81%.
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Dairy Crest schemes slip into deficit
[17:05 CEST 19-05] UK/IRELAND – Dairy Crest has reported a £171m (€194m) decline in the combined value of its two defined benefit (DB) schemes, resulting in an aggregate deficit of £63.3m.
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M&S reports £152.2m IAS19 deficit
[16:55 CEST 19-05] UK – Marks & Spencer has revealed the value of its defined benefit (DB) pension scheme dropped by over £1bn to £3.98bn (€4.52bn) over the last year.
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Increased interest hedge cushions TNT’s loss
[15:15 CEST 19-05] NETHERLANDS - The €3.8bn pension fund of postal company TNT saw its losses considerably limited last year, officials claim, as the interest hedge on liabilities was increased from 53% to 75%.
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Norway global heads towards NOK 2.2trn
[17:10 CEST 18-05] NORWAY – The Government Pension Fund – Global has increased in value for the second consecutive month to reach just under NOK 2.2trn (€250bn) at the end of April 2009.
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Alliance Boots pension surplus slips to £188m
[17:10 CEST 18-05] UK – Alliance Boots has revealed a net retirement benefit surplus in its defined benefit schemes of £188m (€213m) at the end of March 2009, compared with £297m a year earlier.
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NPRF could not 'justify' bank recapitalisation
[17:05 CEST 18-05] IRELAND – The National Pension Reserve Fund (NPRF) Commission has told the Ministry of Finance it could not "justify" investing €7bn to recapitalise two banks in relation to its investment remit, which resulted in legislation enabling the government to direct the Commission to make the investment.
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NTMA warned not to adopt hybrid scheme over levy
[16:55 CEST 18-05] IRELAND – The Committee for Public Accounts has criticised the potential introduction of a hybrid pension regime for Ireland's National Treasury Management Agency (NTMA)employees, as the scheme is a defined contribution (DC) scheme but will still require members to pay the DB-related public sector pension levy.
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Poland contributes cash as pensions rise
POLAND – Polish pension funds rose in value by 5.7% last month, following improved performance for the second consecutive month in a row along with fresh cash contributions from the government – the first to be made since 2003.
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Croatian funds back in positive territory
CROATIA – Croatia’s four pension fund companies collectively lost 0.9% on investments in the first quarter, but data reveals they are back in positive territory now.
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Swiss funds see long-term returns erased
[16:25 CEST 14-05] SWITZERLAND – Swiss Pensionskassen have now returned virtually nothing from their investments in the last eight years, Swisscanto found in its latest research.
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Provisum kept cover ratio afloat
[16:15 CEST 14-05] NETHERLANDS - Provisum, the €900m pension fund of retailer C&A, managed to sustain a cover ratio of over 120% by the end of last year, thanks mainly to its comfortable starting position.
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Royal Mail pension deficit nears £7bn
[16:00 CEST 14-05] UK – Royal Mail Group has revealed the deficit in its £20bn (€22.3bn) pension scheme has more than doubled over the year to £6.77bn at the end of March 2009.
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BT told to delay actuarial valuation results
[15:45 CEST 14-05] UK – The Pensions Regulator (TPR) has asked BT and trustees of the £29.3bn (€32.6bn) BT Pension Scheme (BTPS) not to finalise or disclose the results of the latest triennial valuation until TPR has completed discussions regarding the basis of the valuation.
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Slovak funds grow 0.5%
SLOVAKIA – The six pension fund companies managing mandatory funds for Slovakia’s second pillar posted a positive return for the first quarter of 2009.
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KPN to step up risk after 14.5% loss
[16:20 CEST 13-05] NETHERLANDS - The €3.6bn pension fund of telecoms provider KPN limited its loss in 2008 to 14.5% as a result of a 70%-hedge on its interest rate risk, but officials have plans to increase its alpha risk this year.
