IRELAND - The country's €22.3bn (US$32bn) National Pension Reserve Fund (NPRF) returned 20.9% last year on the back of rising equity markets, the National Treasury Management Agency said.
Since inception in 2001, the reserve fund's investment portfolio returned an annualised 2.6%.
NPRF's portfolio is divided between the discretionary portfolio, which invests in a variety of assets, and the directed investment performance, which has €7bn invested in Bank of Ireland and Allied Irish Banks. In 2009, the government directed the reserve fund to invest in and recapitalise the banks.
The investment drove NPRF's equity holdings to 80% in May 2009, versus 57% before the recapitalisation. Throughout the year, NPRF sold €2.7bn in equities to reduce its exposure to the equity markets. At year end, the scheme's equity allocation totalled 63%.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.