Returns – Page 167
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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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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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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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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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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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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
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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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
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).
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News
ABP, PME and PMT see positive gains so far
[16:30 CEST 15-07] NETHERLANDS – Three of the Netherlands' largest pension funds saw significant improvements to their investment returns and cover ratios during the last three months, though PME said it is still awaiting regulatory approval of its recovery plan.
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News
UK DB deficit grows £20bn in June
[17:00 CEST 14-09] UK – The funding position of defined benefit (DB) schemes deteriorated in June for the first time since March, as the aggregate deficit of around 7,400 schemes increased by more than £20bn to £200.1bn (€233.3bn).
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News
Irish pensions paybill to hit €2bn in 2009
[16:55 CEST 14-09] IRELAND – The net cost of pensions to the Irish Exchequer increased by 56.5% between 2004 and 2009 to reach almost €2bn, figures from the department of finance have revealed.
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News
Pensions deficits grow to €1.7bn at Philips
[16:45 CEST 14-09] GLOBAL – Philips, the electronics manufacturer, has reported the deficit on its defined benefits pensions plans now stands at over €1.7bn globally as a result of negative market activity in the last six months.
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News
Swiss pensionskassen return 3.3% in H1
[15:45 CEST 14-09] SWITZERLAND – The last three months have proven to be very positive for the 100 Swiss Pensionskassen included in Credit Suisse's index.
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News
Barratt closes DB as deficit exceeds €100m
[17:35 CEST 13-07] UK - Barratt Developments, the UK housebuilder, has joined the ranks of companies ending their final salary pension schemes by announcing the closure of its defined benefit (DB) pension scheme to existing members from 1 July.
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News
Pension deficits may cause more dividend cuts
[17:35 CEST 13-07] UK – More companies could start cutting dividend payouts in an attempt to help fund pension deficits, although Towers Perrin has warned this would only be part of the solution.
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News
Austrian pensionskassen back on positive ground
[16:35 CEST 13-07] AUSTRIA – The second quarter brought a major shift into positive territory for Austrian pensionskassen with a return of 3.74%.
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NewsGerman bond exodus signals potential problems for euro-zone
[18:00 CEST 10-07] EUROPE - Renewed selling of German bonds could indicate more tough times for the euro-zone, according to Bank of New York Mellon.
