by The Sun 24ORE of September 5, 2009
Pension Fund - Annual 2008 X-ray
INARCASSA devalues \u200b\u200bbonds for 294 million euro
A year to forget for the pension fund of engineers and architects. Inarcassa, which has assets of about 4 billion, closed the year with 294 million write-downs. A bill but could be at least saltiest 155 million, thus bringing value adjustments at an altitude of 449 million. A signals are the same vertices Inarcassa in the budget. The Supervisory Board and auditors Deloitte & Touche (the two supervisory bodies) are even more explicit in their reports. "It seems appropriate to point out - write the five mayors - that if the case had not proceeded to the reclassification of securities, the devaluation of equity securities would be increased by about 155 million euro." An alert that is repeated twice in the document. Even the auditors in the last line of their report they write: "If the case had not proceeded according to survey of the portfolio, were registered more write-downs of € 154.573 million. No crisis in the decree. There was thus a half-book revolution in the 2008 budget. Accounts are not easy given the financial turmoil that created a big headache even to the speakers.
INCOME 2007
In 2007 the average income of members INARCASSA increased by 2.6% to € 33,037. The greatest increase respect to architects (+3.4%) compared with 1, 9% of engineers. There remains however a gap of more than € 13 thousand of income between the two categories.
Increase MEMBERS 2008
members are growing in Inarcassa (+4.1% to € 143,851 ), although to a lesser extent than in 2007 (+5.4%). The architects at the end of 2008 were 79,805, a higher number fellow engineers (64,046)
SOURCE: The Sun 24ORE of September 5, 2009
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