Aon Hewitt: Closure to DB Accrual Among Schemes Gains Momentum
An increasing number of schemes in the UK have closed to future Defined Benefit (DB) accrual or are currently in the process of doing so, a study by consulting firm Aon Hewitt reveals.
Risk
Los Angeles Scheme Realizes Expected Investment Return Is Too Rosy
The Los Angeles pension board has voted to lower its earnings estimates for the next several years.
Report Claims Public, Private Employer Pensions Have Under-Reserved for Longevity Risk
A new report released by Swiss Re has found that many Canadian public and private employer pension funds have under-reserved for longevity risk.
PBGC Opposes Friendly's Attempt to Rid Itself of Pension
Officials at the Pension Benefit Guaranty Corporation have asserted that they'll fight efforts by Friendly Ice Cream Corp. to shed its pension plan during Chapter 11 bankruptcy restructuring.
UK Pensions Report Argues LDI Strategy Is Seriously Misconceived
A new report by Brighton Rock head of research Con Keating asserts that liability-driven investment is “fundamentally misconceived” among UK pensions as a result of hedging low interest rates.
LCP Report: Dutch Pension Deficits Rose in 2010, IAS19 Rules to Increase Liabilities Further
The combined employee benefit deficits of the Netherlands' 50 largest companies grew by €1 billion in the past year, according to the first "Pensions Accounting Briefing" report by LCP Netherlands.
Following Arrest of UBS Trader, S&P, Moody’s, Fitch Issue Review for Downgrade
UBS, which reportedly suffered a $2 billion loss from unauthorized trading at its investment bank, had its credit ratings put under review for potential downgrade by Standard & Poor’s, Moody’s Investors Service, and Fitch.
Polio, Covered Bridges—and Pension Buy-Ins
From aiCIO Magazine's Fall 2011 Issue: Prudential executes the first American pension buy-in. What’s next?
Editorial: Some Dreamers of the Golden Dream
From aiCIO Magazine's Fall 2011 Issue: Editor-in-Chief Kip McDaniel on the public pension uproar.
Local, State Credit Downgrades May Follow S&P Downgrade of US Debt
In a recent report, ratings agency Standard & Poor's revealed that state and local governments are likely to face credit downgrades following a finalization of the US budget.
UK's Coal Funds Create Investment Subsidiary to Improve Governance, Returns
Coal Pensions in the UK has founded a standalone investment subsidiary so that its trustees have an in-house source of market expertise.
Survey: Oligopoly Developing With LDI Providers Among UK Schemes
A KPMG survey has found that while a growing choice of liability-driven investing solutions are now available, an oligopoly is developing in the UK's LDI market with just three providers managing over 80% of assets.
Market Volatility Creates Short-Term Declines, Long-Term Opportunity for Public Pensions
While the nation's largest public pension funds have been slowly climbing their way back to pre-crisis levels, the recent market slump has erased billions of dollars in gains.
Australia's Super Funds Face New Risk Disclosure Guidelines
The Association of Superannuation Funds of Australia (ASFA) and the Financial Services Council (FSC) has announced new industry guidelines to standardize the disclosure of investment risk in superannuation funds.
UK Watchdog Says Hedge Fund Defaults Pose Minimal Systemic Risk
With hedge funds' “footprint” within markets being “generally small," the UK Financial Services Authority says defaults in the asset class pose little threat to the country’s financial system.