- LCP Ireland has reported mixed funding results in April, following the impact of global market uncertainty.

LCP said its global equities fell by 0.3 per cent, with Eurozone markets rising by 0.4 per cent and North America falling by 5.2 per cent over the month. Despite heightened geopolitical tensions and external headwinds, European markets showed resilience, supported by steady GDP growth and low inflation.

However, economic recovery slowed, with subdued growth and declining business confidence, as improvements in German manufacturing were offset by a services downturn, particularly in France. Meanwhile, US equities fell sharply due to renewed trade tensions, while annuity prices experienced an increase as bond prices rose.

- Dutch pension company APG has announced plans to make its climate system more sustainable.

In October, APG will replace many existing gas boilers with heat pumps at the Heerlen building. The firm said this change, which has been prepared over the past two years, will reduce gas consumption by over 85 per cent and take an important step towards achieving climate-neutral operations by 2030.

APG portfolio manager of facility services, Marga Petridean, said over the past two years, she and systems partner Equans have been busy preparing for the step that will be taken in October, but claimed that getting completely off natural gas was not yet possible.

"This is because on very cold days, using only heat pumps would cause us to exceed the contracted peak electrical capacity. Just changing the contract with the grid operator and increasing the peak capacity is not an option because of a structural shortage of transport capacity, even in South Limburg", Petridean explained.

- The Norwegian parliament has announced that from May 2025, the minimum level supplement for single minimum pensioners will increase by NOK 6,000 per year.

The change applies to old-age pensions from the national insurance scheme (Nav) and will be implemented in connection with the social security settlement in May. For those with an old-age pension and who already receive a minimum-level pension, the change will mean an increase in the minimum-level supplement in the national insurance pension. Anyone with a small pension will receive a supplement so that the payment reaches a minimum level. The supplement will primarily provide more pension to single pensioners born before 1954 with little or no accrued supplementary pension in the national insurance system. The increase will also apply to pensioners born between 1954 and 1962, but the effect will gradually decrease for these cohorts. Nav said it would inform affected pensioners if the changes applied to them.

- AMF has decided to convert SEK 600m into strengthened guarantees.

The strengthening will cover approximately 120,000 customers with traditional insurance who receive their pensions from AMF. The guarantee reinforcement means that a larger part of the customer's pension is guaranteed and that the risk level of the insurance is reduced. The strengthened guarantee does not affect the size of current payments.

AMF head of product, Roland Kristen, commented on the decision: "It is a good saving with a guarantee at the bottom, where we take care of and invest the money so that it grows as safely and well as possible over time. It feels good that despite the turbulence in the world and volatile market interest rates, we can implement a guarantee reinforcement this year as well. This contributes to a good balance between security and return, with previous reinforcements and the guarantee always at the bottom."

- L&G has announced a USD 50m renewable energy investment with Landsvirkjun, Iceland’s national power company.

L&G’s investment is part of a broader USD 150m issuance by the energy provider and follows multiple corporate debt investments in the clean energy company since 2018, including the company’s debut USD 200m green bond in the US private placement market. Following significant client demand, Landsvirkjun will continue expanding Iceland’s renewable energy infrastructure through new plants and upgrades to existing hydroelectric, geothermal, and wind facilities.

L&G Europe head of corporate debt, Steve Bolton, commented: “We’re delighted to strengthen our relationship with Landsvirkjun and support their continued delivery of renewable energy infrastructure. Our deep expertise and longstanding relationships allow us to access attractive investment opportunities that drive meaningful social and environmental impact, delivering value for investors and society.”

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