SWITZERLAND - Swiss pension funds are set to post an average growth in excess of 9% for the first three quarters of 2009, the latest Swiss institutional survey by Lusenti Partners revealed.
The consultant estimated public pension funds' performance was 9.02% at the end of September, while the returns for private funds were 9.67%.
This would represent a substantial increase from the performance of the second quarter, which was 2.82% for the public funds and 3.47% for the private ones.
Foreign equities contributed most to the boost in performance in the third quarter offering a 7.9% return for the public funds and 11.35% for the private funds.
These were followed by commodities, property, foreign bonds and Swiss equities.
The average funding level also improved from 94.8% at the end of June to 98.4% at the end of September.
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.