NETHERLANDS- ING Group plans to contribute €1.8bn into its pension fund, nearly triple the amount it contributed in 2008.
The Dutch government requires pension funds to be 105% funded, but ING's contributions will bring the funding levels to 107%, she said.
Separately, officials at the firm have asked 1,200 member of its senior management to return 2008 bonuses.
Company officials have put out a "moral call" to management to voluntarily return their bonuses.
The firm issued a total of €300m (US$405.1m) in bonuses in 2008 split among 40,000 employees worldwide, said van der Giessen. She said the company already cut the amount of bonuses by 50% this year.
The firm uses three criteria to determine whether or not to offer bonuses- officials consider the group performance, business line performance and individual performance.
In this case, she said, there were some individuals who qualified for bonuses.
ING said it is also re-evaluating its bonus structure for the future. Under the new rules, which are still being finalized, the company will not pay bonuses if ING experiences an overall loss, said van der Giessen.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.