FRANCE - The Fonds de reserve pour les retraites said it is 143% funded, more than enough needed to fund its liabilities through to 2024 as mandated by the government.
In December, the pension reserve fund implemented a liability driven investment strategy after receiving a clear picture of its liabilities from the French government. It detailed its investment plan in March. (Global Pensions; 10 March 2011)
FRR said as of 31 March, total assets equalled €37.4bn ($54bn), while liabilities totalled €26.1bn.
Nearly 60% of the FRR's portfolio is invested in the so-called coverage portfolio meant to match liabilities, and just over 40% in the performance portfolio meant to bring in additional returns through 2024. The return on the performance portfolio from 13 December through end of March was 2.6%
The trustees of the Alcatel-Lucent Pension Scheme have agreed a £100m pensioner buy-in with Pension Insurance Corporation (PIC).
The collective deficit of the UK's defined benefit (DB) scheme has shrunk by more than £200bn due to the inauguration of Donald Trump as US president, Hymans Robertson says.
Scottish Widows will remove early exit fees across all of its workplace and personal pension policies ahead of the charge cap deadline.
The Tax Incentivised Savings Association (TISA) has made two senior appointments to its policy and retirement teams.