POLAND - New results published reveal investment funds (TFI) and Polish PTE pension societies have recorded losses of ZL35.4m and ZL233.8m last year - respectively 8.3 and almost 400% better than the equivalent results for 2000.
The TFI sector saw total combined income of more than ZL176m, 7.9% down on 2000, with the share of management fees in overall income rising by 16% to 55% of total income. PTE income rose 12.1% to ZL820m with distribution fees accounting for 6% less of this sum than a year earlier.
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.