INLCUDING: FINLAND - Better returns for VER; AUSTRALIA - ASFA awards; UK- JOHCM appointment; UK - Postcode pensions
FINLAND – Better returns for VER
The State Pension Fund (VER) delivered positive first half results after only breaking even last year.
VER’s investments yielded a return of 3.4% in the first half of 2007 compared to 0% in the first half of last year.
The fund's assets rose to €11.4bn at the end of June, up from €10.3bn at the turn of the year.
The return on the State Pension Fund’s fixed-income portfolio in the first half of 2007 was -1.2%, in contrast to -2.5% from January-June 2006, and the market value of fixed-income investments was €6.2bn.
AUSTRALIA – ASFA awards
ING Australia, Mercer Wealth Solutions, Plum Financial and First State Super picked up excellence awards in the Member Marketing or Education Communication category at the Association of Superannuation Funds of Australia (ASFA) awards.
Eight superannuation funds picked up merit awards in the same category.
UK – JOHCM appointment
J O Hambro Capital Management (JOHCM) has announced former Northern Rock finance director, Bob Bennett would join as its first independent non-executive director.
Bennett would take responsibility for the development and growth of JOHCM.
UK – Postcode annuities
Legal and General has launched a pilot scheme which would vary annuity costs and payout rates according to where retirees live.
Hargreaves Landsdown collaborated on research into how postcodes could indicate life expectancy.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers