News in brief: 21 June

- Ireland’s Pensions Council has published a guide on master trusts for employers and trustees.

With an increasing number of schemes transferring into a master trust, the Pensions Council has undertaken a review of the transition exercise and the main points of consideration for stakeholders in navigating that transition.

- Dutch fund ABP is building 1,500 affordable rental homes in the Netherlands with international real estate developer Greystar, in a €420m investment.

Commenting, ABP board chairman, Harmen van Wijnen, said: "ABP wants to build together for a good pension in a liveable world. To that end, we are looking for attractive long-term investments, and preferably investments that make a difference in the lives of our participants. This is why we have set ourselves the goal of investing €10bn with impact in the Netherlands by 2030, of which approximately €5bn will be in housing."

- The funding ratio of Dutch Pensioenfonds Hoogovens increased in May from 127.3 per cent to 129 per cent.

The value of invested assets increased from €9,828m to €9,973m so far this year. The pension fund’s policy funding ratio, the average of the funding ratio over a 12-month period, remained unchanged at 130 per cent in May. The policy funding ratio is therefore 16.7 per cent lower than the funding ratio for future sustainable indexation (TBI). The TBI is the funding ratio from which non-granted past supplements may be recovered.

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