Returns – Page 173
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Member sentiment ups ING Emeklilik's bond exposure
TURKEY – The €169m ING Emeklilik pension insurance company has increased its exposure to fixed income, prompted by prevailing market sentiment among its customers.
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IPE winner delivers positive return
[12:00 CET 10-02] NETHERLANDS - De Eendragt Pensioenfond, the pension fund-turned insurance company and winner of the highest accolade at last year’s IPE Awards, has bucked the current trend in Dutch pensions investment by delivering a 4.4% positive return in 2008.
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Swiss Pensionskassen are 'stable' – ASIP
[16:50 CET 09-02] SWITZERLAND – ASIP, the pension fund association, has claimed Swiss Pensionskassen system are “weathering the storm” of the market, just as the Social Democrats suggest measures to keep it that way.
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Half of PensPlan’s lines make gains
[16:30 CET 09-02] ITALY – Thirteen of the 22 investment lines offered as pensions investments by PensPlan achieved positive returns in what officials describe as conditions which were “difficult to register positive results”.
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Choppy waters improve January deficits
[15:00 CET 09-02] UK – The UK’s private sector final salary pension schemes saw a slight improvement in January as deficits reduced a fraction, according to calculations made by the Pension Protection Fund.
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Cantons reject mandatory full funding
[16:40 CET 06-02] SWITZERLAND – Swiss cantons officials have rejected government proposals to pass a law which would oblige all public funds to become fully-funded over the next 40 years, just as funding levels are falling further.
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Equity losses reduce AP2 by €5.2bn
[16:15 CET 06-02] SWEDEN – Andra AP-fonden (AP2), the Second Swedish National Pension Fund has reported a loss of -24%, or SEK55.1bn (€5.2bn), on its net assets in 2008.
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Pension funds seek fresh delay to indexation label
[16:10 CET 06-02] NETHERLANDS - VB and OPF, the main lobbying organisations for the Dutch pension funds, have called for a further delay to the introduction of the indexation label, as officials say the financial situation is still too unclear to be able to deliver sound forecasts.
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Interest rate hedge limits TNO’s loss
[15:50 CET 06-02] NETHERLANDS - The TNO pension fund’s investments yielded a negative return of almost 5% in 2008, despite adopting a high interest rate hedge.
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ATP hedging avoids draw on reserves
[17:15 CET 05-02] DENMARK – ATP Group, Denmark’s largest pension fund provider, suffered a loss of DKK 25.7bn (€3.4bn) in 2008, though the firm's hedging strategy prevented a need to draw on reserves in what it was described as a "challenging year".
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Gov't claims auto-enrolment will benefit 95%
[17:05 CET 05-02] UK – Auto-enrolment will benefit more than 95% of people in relation to retirement saving despite means-testing, and the “large majority” expected to get double what they contribute, the government has claimed.
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Akzo Nobel scheme loses a fifth
[16:40 CET 05-02] NETHERLANDS - The €3.6bn Dutch pension fund of paints giant Akzo Nobel returned –20.6% on its investments in 2008, as its equity allocation plummeted in value by 42%.
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Public sector 'to cost taxpayers £335bn'
[16:55 CET 04-02] UK – The Institute of Directors (IoD) has suggested public sector workers should be switched to defined contribution (DC) pension arrangements as public sector pensions as funding shortfalls could cost taxpayers £335bn (€371bn) in employer controbutions over the next 50 years.
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State pension hit worst – German poll
[16:00 CET 04-02] GERMANY – Almost half of people interviewed in a recent poll think the current financial crisis will weaken the state pension system but only 12% fear a negative influence on occupational pensions.
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Ombudsman may file further Eq Life report
[15:15 CET 04-02] UK – Ann Abrahams, the Parliamentary Ombudsman, is considering whether to submit a follow-up report on Equitable Life detailing why she finds the government response to her report "unsatisfactory", a committee of MPs has been told.
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Belgian funds return -20.5% in 2008
[16:40 CET 03-02] BELGIUM – Belgian pension funds suffered a negative return of 20.5% in 2008, the Belgian Association of Pension Institutions (BVPI) has revealed.
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Global pension assets drop 18% in 2008
[16:30 CET 03-02] GLOBAL – Economic conditions have resulted in the largest annual decline in global pension fund assets “for many years”, as the total value of pension pots fell 18% in 2008 to $25trn (€19.6trn), according to research from International Financial Services London (IFSL).
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PME campaigns for bespoke recovery approach
[16:25 CET 03-02] NETHERLANDS – Hans van der Windt, director of PME, the €18.7bn pension fund for the metal and electronics sectors, wants the pension regulator to adopt a tailor-made approach that enables pension funds to recover at their individual pace.
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Further delay indexation label - PGB fund
[16:15 CET 03-02] NETHERLANDS - Pensioenfonds Grafische Bedrijven (PGB), the €9bn Dutch pension fund for the printing and publishing industry, has hit out against the planned introduction of an indexation label, arguing it promotes short-termism and is not informative enough.
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BT takes sipp for new DC scheme
[16:00 CET 03-02] UK – BT, the telecoms giant, has appointed Standard Life to provide a new corporate self-invested personal pension (CSIPP) to replace its existing defined contribution (DC) schemes.
