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%
As the government's review into AE kicks off, how should the policy progress post-staging? James Phillips explores the industry view
David Brooks says consolidation is not the only option for DB schemes
This week's top stories include a Treasury letter confirming no changes to pensions tax relief in the near future, and Frank Field questioning the level of benefits promised to BHS members.
Catherine Howarth looks at what issues the auto-enrolment consultation should focus on