German corporate pension liabilities swell by a fifth in 2019

first_imgPension scheme funding levels for companies covered by the report – those included in the DAX and MDAX stock market indices – fell by around a fifth since the beginning of 2019, according to WTW’s modelling.For DAX company pension plans, funding levels fell to 62.3% at the end of September from 67% at the end of December 2018 while funding of plans at the slightly smaller MDAX firms dipped to 58.3% from 63.1%, the consultancy’s figures showed.However, this decline was much smaller than could have been expected given the significant increase in pension liabilities in the nine-month period, WTW said.This showed the companies were working intensively on their investment strategies specifically for their pensions assets, it said.According to the firm’s own calculation of the average discount rate for DAX companies, this rate sank to just 0.94% at the end of September, from 1.91% at the of December 2018.WTW’s figures showed the decline of the discount rate seen in the first nine months of this year was the biggest in percentage point terms since at least 2014, and comes in a period when 10 and 30-year bonds have turned negative.Examining the outlook for the background conditions that determine interest rates, the consultancy said in its report: “All in all, low eurozone interest rates are expected to persist for several years yet.” The pension liabilities of Germany’s largest companies have expanded by almost a fifth since the beginning of this year, because of further pressure on discount rates, consultancy Willis Towers Watson reported.But despite the development, funding ratios have remained relatively stable because corporates have made investment returns on their pensions assets of around 10%, the firm said in its report on German pensions finance for the third quarter of 2019.Heinke Conrads, leader of the firm’s German and Austrian retirement business, said: “The companies have had a strong headwind this year for their pension schemes from the development of interest rates, but also a strong tailwind through the positive development on capital markets.“Overall, it is clear that they have chosen their capital investment strategies well and were able to manage their pension schemes well,” she said.last_img read more

Sunderland winger Emanuele Giaccherini joins Serie A Bologna

first_img Press Association Giaccherini has now returned to full fitness but will feel his way back into the game with Delio Rossi’s Bologna, who have started the new Italian season with two defeats having won the Serie B play-off final in June. A statement published on on Monday evening confirmed the 21-time Italy international had moved to the Stadio Renato dall’Ara. The Tuscan forged his reputation with Cesena, earning a move to Juventus in 2011 and winning the Scudetto in both his years in Turin. Impressive performances for Italy at Euro 2012 helped raise his profile and he scored the fastest goal in Azzurri history during a friendly meeting with Haiti in June 2013. The 30-year-old joined the Black Cats from Juventus in July 2013 and made 24 Barclays Premier League appearances, scoring four goals, during his first season with the club. An ankle injury and subsequent surgery restricted him to only eight league appearances during the 2014-15 campaign, however. center_img Sunderland have allowed Italy winger Emanuele Giaccherini to join newly-promoted Serie A side Bologna on a season-long loan.last_img read more


first_imgDonegal Daily editor Stephen Maguire has called out Voodoo Venue owner Jason Black ahead of this weekend’s Northfit Corporate Fitness Event.Maguire scoffed at Black’s impressive sporting CV, which includes scaling Mount Everest. Maguire is confident he and his employees have what it takes to trump Black and the other businesses involved in the unique and innovative fitness event.Sixteen local businesses are set to go head-to-head at the event which has been organised to encourage fitness and well-being within the workplace.It’s sure to be a fun and competitive event, to watch the video above, simply click play and enjoy!DDTV: DONEGAL DAILY CALLS OUT JASON BLACK AHEAD OF NORTHFIT CORPORATE CHALLENGE was last modified: October 3rd, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BusinessDDTVFeaturesJason BlacknewsNorthfit Corporate Fitness EventSportlast_img read more