Latest Ireland News
RSS-
Ireland granted further pension protection
Ireland’s defined benefit (DB) pension scheme members will gain further support with news that a new Pensions Insolvency Payment Scheme (PIPS) is to be introduced in the Social and Welfare and Pensions Bill 2009. Minister for Social and Family Affairs, Mary Hanafin T.D., announced that the new development will assist employees and former employees of companies where the employer ...
-
Irish scheme assets drop not as bad as expected – IAPF
Irish pension scheme assets fell by 23% in 2008, the Irish Association of Pension Funds (IAPF) has reported as part of its annual asset allocation survey, which, says the association, is less than might have been expected given recent market conditions At year end, assets under management amounted to EUR 66.7bn compared with EUR 86.6bn at the end of 2007, which brings the total value of ...
-
Irish private pensions ‘need support’ – IAPF
Irish private pension provision will be destroyed if the Irish Government goes ahead with a reduction in tax relief, says the Irish Association of Pension Funds (IAPF). Next month’s supplementary Budget will outline the proposals, and the IAPF has released a briefing paper in advance of this. It says that the reduction in relief on pension contributions to the standard rate would ...
More Ireland News
RSS-
No letup for Irish pension funds
The credit crunch is not letting up on Irish pension funds, with February recording further losses of 5.7 per cent. In January, the average fund declined by 1.9 per cent, brining the return for 2009 so far to -7.5 per cent. The best performing manager during February was Standard Life Investments, with -5.0 per cent, and Irish Life Investment Managers delivered the worst performance of ...
-
Cases mount up for Irish Pensions Ombudsman
The Irish Pensions Ombudsman saw a forty-three per cent rise in new cases compared to 2007, with the number of cases closed in 2008 up by ten per cent on last year. Around 450 cases are currently under investigation by the Dublin-based organisation, and its website has recorded over a third of a million hits annually. A statement regarding the provisional figures of the caseload in the ...
-
Irish funds record huge 2008 losses
A turbulent 2008 took its toll on Irish pension funds, with recorded losses of €27bn as managed funds declined by 34.8 per cent, according to Rubicon Investment Consulting. Leading a dismal set of results was Setanta Asset Management, with a return of -29.6 per cent, and Hibernian Investment Managers was the worst performing manager with a return of -38.8 per cent. Rubicon has ...
-
Irish DC funds given option to defer annuity purchase
A new option for members of defined contribution (DC) occupational pension schemes which will defer the purchase of a retirement annuity for a specified two-year period has been announced by Ireland’s Minister for Finance, Brian Lenihan. Under current provisions, member of DC schemes are obliged to purchase an annuity immediately upon retirement with their pension fund, after ...
-
Sarasin carves way into Irish market
The UK subsidiary of the Sarasin Group in Switzerland has its new offices in Dublin, and business operations have begun with immediate effect. The National Gallery in Dublin will host the official launch event of the office on 19 November ...
-
Irish pension funds lose third of value
Irish pension funds have lost a third of their value in just 12 months, falling by 33.4 per cent, according to investment consultant Rubicon. In October 2008 alone, Irish pension managed funds fell by 9.2 per cent on average, with the best performance coming from Eagle Star at -8.5 per cent. Irish Life Investment Managers delivered the poorest returns, with -10.5 per cent. So far in ...
-
Irish market opens up to China
The Irish funds market has opened its doors to Chinese investors in a move by the Irish Funds Industry Association (IFIA). The Irish financial regulator, IFSRA, signed a Memorandum of Understanding one Thursday 23 October with the China Securities Regulatory Commission (CSRC) and the China Banking Regulatory Commission (CBRC), its Chinese counterparts. This will enable Chinese investors ...
-
Pioneer Investments plans to break into Irish market
Pioneer Investments has revealed that it is to enter the Irish Institutional Market, launching its institutional business in Ireland as part of the company’s ongoing growth strategy. The business will be led by Dave Santry as head of institutional business development, Ireland, and will be supported by Kate Parker, vice president of institutional sales in the UK and Ireland. Paul ...
-
Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
-
Hewitt reports negative Irish returns
survey. The return was the same as the average manager in the survey, and although continuing market volatility has resulted in a wide dispersion of returns, a year to date the difference between the top and bottom performing manager was 5.4 per cent over the seven months. Canada Life/Setanta was the best performing manager over the month at -1.1 per cent, yet their return over the ...
-
LCP expands into Ireland
Consulting actuaries Lane Clark & Peacock (LCP) has furthered its international expansion with the establishment of offices in Ireland following the merger with HLD Actuarial Consultants (HLD), creating Lane Clark & Peacock Ireland. The Ireland office follows the opening of the Netherlands office last month, and joins LCP’s presence in the UK, Belgium and Switzerland. Based ...
-
Irish pension funds feel the pinch as returns tumble
Irish pension funds fell by 1.3% in 2007, the Irish Association of Pension Funds’ (IAPF) annual asset allocation survey has revealed, bringing assets down to €86.6bn at the end of 2007 from €87.7 at the end of 2006. Despite recent falls, however, the total value of assets managed by Irish pension funds has almost doubled from €44.8bn in the five years since the end ...
-
Note of caution for Ireland’s trustees
Irish pension funds lost €10 billion in the first three weeks of 2008, according to figures released from Mercer. This news follows a particularly poor year for Irish funds which, despite a strong first half, saw them suffer a €4bn loss in value, with the average pension fund losing close to 4%. Mercer, however, warned funds against taking any ';rash decisions'; in ...
-
Compulsion not the answer in Ireland
Butchers, florists and hairdressers in Ireland would be more inclined to set up a pension if the monetary benefits were simplified in the current voluntary system rather than through the introduction of mandatory pensions, according to a new ...
-
Ireland important partner for Japan - Abe Shinzo
Japan’s Prime Minister Shinzo Abe has said that Ireland is an extremely important partner for Japan. The first head of the Japanese government to visit Ireland, Mr Abe is in Dublin having attended the G8 Summit in Co Fermanagh. Mr Abe said he deeply respects the process Ireland has gone through under difficult conditions, working seriously to free the country from the debt crisis. At a ...
-
Ireland must charge full 12.5 tax rate - OECD
The head of tax for the Organisation for Economic Co-operation and Development has told Ireland it must charge 12.5% tax and not 2% if it wants to retain its tax regime. Pascal Saint-Amans told a conference in Dublin that Ireland's tax regime was "low and attractive". His comments follow controversy regarding multinational Apple, which a US Senate committee claimed was only ...
-
Video Obama kids trace family history in Ireland
While President Obama was attending the G-8 summit, Malia, Sasha, and Michelle Obama hit the tourist trail, taking in an Irish dancing performance and exploring their Irish roots. NBC's Annabel Roberts ...
-
Temporary Loughborough Echo phone disruption
Jun 19 2013 By David Godsall THE Loughborough Echo is currently experiencing problems with incoming calls being unable to reach our reporters and advertising staff's individual numbers.If you need to contact us, please ring the main switchboard number 01509 232632 and you will be put through to the correct person.Apologies for any inconvenience caused - the problem is being looked at ...
-
Young people engage in debate
Jun 18 2013 By David Godsall SIXTY teenagers are gathering to deliberate and debate the big issues affecting Leicestershire's young people. The 'Unheard Voices' event this Thursday (20th) - arranged by Leicestershire County Council - shines a light on their views and achievements and features displays of creative projects completed by young people over the last year. Members ...
-
Republic of Ireland prostituted to Obamas says Irish politician Clare Daly
Taoiseach Enda Kenny has slammed Independent TD Clare Daly after she accused him of 'prostituting' the Republic of Ireland to US president Barack ...
-
Burglary rates down 10 in Dublin Shatter tells Oireachtas Committee
Minister for Justice Alan Shatter says fines collection legislation will be published in coming weeks .Photograph: Bryan O'Brien/The Irish ...
-
Hours for special needs pupils cut by 10
Support hours for pupils with special needs are being reduced by 10 per cent due to an increase in demand, the National Council for Special Education has announced ...
In-Depth Dublin
-
Dublin and Cork are finally linked by motorway
The National Transport authority recently announced to Dublin news media that upgrades to the final stretch of motorway between Cork and Dublin will be opened in 2010, brining to completion a massive infrastructure investment.
The massive upgrade of 250 kilometers of motorway and highway between Dublin and Cork is almost complete, linking the capital with the second largest city in the country. Read more
News from around our Network
