NETHERLANDS - Dutch travel and transport industry pension scheme Stichting Bedrijfstakpensioenfonds voor het Beroepsvervoer over de weg ("Vervoer") has awarded Northern Trust a e7.5bn mandate as it begins a shake up of its operations.
Vervoer interim MD Hans van der Klink said the global custody, compliance monitoring, performance measurement, commission recapture and securities lending mandate was the first step in a full reorientation of the way fund’s assets and liabilities were managed.
“We have established a small but highly skilled executive office in conjunction with a fiduciary asset management model, which will be at the core of the new structure,” he said. “We feel that our model could well become an example of best governance practice for smaller and medium sized pension funds in the Netherlands.”
By Damian Clarkson
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.