FRANCE - The Fonds de reserve pour les retraites said it is 143% funded, more than enough needed to fund its liabilities through to 2024 as mandated by the government.
In December, the pension reserve fund implemented a liability driven investment strategy after receiving a clear picture of its liabilities from the French government. It detailed its investment plan in March. (Global Pensions; 10 March 2011)
FRR said as of 31 March, total assets equalled €37.4bn ($54bn), while liabilities totalled €26.1bn.
Nearly 60% of the FRR's portfolio is invested in the so-called coverage portfolio meant to match liabilities, and just over 40% in the performance portfolio meant to bring in additional returns through 2024. The return on the performance portfolio from 13 December through end of March was 2.6%
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.
Labour Party plans to renationalise core industries and require the largest listed companies to hand 10% of shares to employees would be a "double whammy" for pensions, business leaders have warned.