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%
As the CMA gathers evidence for its investigation into investment consultants and fiduciary managers, Stephanie Baxter asks if there is a systemic problem in the industry
Universities UK (UUK) has proposed ending future accrual of defined benefit (DB) promises and transferring members to the existing defined contribution (DC) plan.
The bridging pension anomaly faced by the Pension Protection Fund (PPF) will be removed under plans unveiled by the Department for Work and Pensions (DWP).
Zuhair Mohammed has been appointed as a partner at Lane Clark & Peacock (LCP) to expand its investment team.