UK- London Borough of Brent Pension Fund invests in infrastructure; US- Delta Airlines pension contribution; NETHERLANDS- Anti-social behaviour
Brent makes first foray into infrastructure with £25m mandate
UK - The London Borough of Brent Pension Fund has appointed Alinda Capital Partners to manage a infrastructure mandate worth around £25m (US$41.2m).
Brent - which was advised by bfinance - said infrastructure was a new asset class for the fund and was chosen to help it with diversification due to its low correlation with more traditional asset classes.
bfinance senior associate Jorge Huitron said interest in infrastructure has increased notably in recent months- particularly in those funds which offered high yields and had low levels of leverage.
Delta pension contribution to jump by $450m
US - Delta Airlines expects the required funding for its defined benefit pension plans to increase by US$450m in 2010, the airliner said yesterday.
In a filing with the Securities and Exchange Commission, the company said: "The increase in required funding is due primarily to the decline in investment markets in 2008, which negatively affected the value of the pension assets."
Delta expects to pay $200m towards its DB plans in 2009. According to its 2008 year-end report, the company contributed $115m to its DB plans last year.
The defined benefit plans are frozen to new accruals.
The DB plans cover the employees and retirees at Delta and Northwest Airlines. In October, Delta completed its merger with Northwest.
Donner: Opposition to higher pension age is ‘anti-social'
NETHERLANDS - Those opposed to increasing the pension age to 67 from 65 are "anti-social," said social affairs minister Piet Hein Donner, in a local interview over the weekend.
Donner was arguing that "it is anti-social to be in denial of our pension problems," confirmed spokeswoman for the minister Sabine Jimkes.
The government announced its plans to raise the state pension in order to bolster its finances in March, but is allowing unions to find an alternative solution before October 1.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point