NETHERLANDS - Assets at Dutch pension fund Stichting Shell Pensioenfonds have reach €17bn according to recently released figures.
In a recently released newsletter to members posted on its website, the firm said €2bn of this growth had come from employer contributions with the remaining €5bn coming from investment returns "since the peak of the financial crisis".
Shell added the increase in the fund's assets had been offset by a significant increase in its liabilities from more than €13bn to around €15bn over the same period, it said. This was mainly attributable to longer life expectancy and a fall in the market interest rate, which the fund uses to calculate its liabilities.
The scheme's funding ratio is 113%.
The fund has also announced three senior hires as part of its move to improve its investment operations over the past year. Janwillem Bouma was recruited as managing director, Maurice Kemper joined as risk and investment office and Jelle Beenen was appointed external adviser.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers