NETHERLANDS - Stichting Pensioenfonds ABP, the Netherlands' biggest pension fund, reported a return on investments of 4.6% in the first half of 2010.
The fund said assets under management stood at €218bn (US$279bn). The fund's coverage ratio, or the amount of assets relative to future benefit payments, fell to 95% at the end of June from 96% a month earlier.
It said the decrease was mainly due to historically low interest rates, and not a result of a drop in overall assets under management.
The Dutch regulator requires all pension funds to be 105% funded. If they fall below this watermark, schemes need to file a recovery plan. ABP is one year into a five-year recovery plan.
The Centre for Social Justice is calling for the state pension age to be raised to 70 by 2028 and to 75 by 2035, a much faster rise than currently planned.
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
Jonathan Stapleton speaks to Punter Southall Governance Services director of outsourced pension services Clare Owen about the firm's latest reseach into the effectiveness of trustee boards.