Austria: Government’s fall is another blow to reform
Promised tax reforms were put on hold following the toppling of the government. But this is just the latest in a line of unfulfilled pension promises
Bonus eyes climate risks with fresh investment approach
The €1.5bn Austrian multi-employer scheme is setting up a fund-of-funds structure it believes will help improve the transparency of climate-related risks
Belgium targets €100bn in pension assets by 2025
PensioPlus wants to increase size of Belgian-based pension fund market by more than double in six years
Aon relaunches bid to transfer Dutch scheme to Belgium
Move subject to approval by two thirds of participants and pensioners
Estonia set to overhaul €4.4bn second-pillar system
Coalition government’s decision follows similar moves in Poland and Romania to scale back second-pillar coverage
Romanian government eases grip on second-pillar system
Crippling capital requirements on providers have been defused significantly, and the industry sees a “chance for survival”
Sampension wins Danish army pension contract from rival Nordea
New members have increased the Danish pension provider’s public sector quotient and its asset base
PFA sheds Chinese coal stocks in latest climate purge
Danish fund divests seven companies and puts another seven under observation as part of its semi-annual portfolio climate review
Finland: Two to become one
The government is planning to unify the municipal and private-sector pension systems
Finland’s Mandatum Life eyes international growth with acquisition
The Nordic insurance company has bought a 20% stake in Swedish alternatives specialist Crescit Asset Management
France expands scope for new pension vehicles in IORP II bill
Government calls on insurance sector to take up opportunity offered by FRPS vehicles and help make a success of the PACTE law’s retirement savings reform
France: Act I of the pensions big bang?
The government’s PACTE law could transform the pensions landscape
Germany: Tinkering at the edges
As yet no social partners have adopted the latest pension model in an already highly complex system
German treasurers increase focus on pension asset management
VDT says its focus will include in-house versus external fiduciary management, pension finance, and accounting issues
Ireland: A pension reform battleground
The government’s plan to overhaul the entire pension system is running behind schedule
Irish regulator to raise scheme levies to meet cost of EU reporting rules
New reporting requirements brought in by EIOPA and ECB are due to come into force from December this year
Mandate roundup: £1bn LGPS fund preparing low-carbon switch
Plus: Solidarietà Veneto tenders two mandates worth €328m; Cardano details six fiduciary mandates
Italy: Prioritising early retirement
The 2019 budget allocated funds to allow more favourable early retirement but its impact has been limited
Weak funding levels are a threat to reform, says Dutch Pensions Federation
Schemes lack the cash to compensate older workers for a transition from average to degressive pensions accrual, says the industry trade body
MN appoints Martijn Scholten as new CIO
Scholten has worked for MN since 2003 and replaces Gerald Cartigny, who has moved to Goldman Sachs
Swedish pension funds slam draft IORP II solvency rules
Folksam, AMF and Alecta home in on proposals for traditional guaranteed pensions while industry association says ambiguities in the draft must be addressed
Asset management roundup: Aberdeen Standard launches private markets arm
Also: Unigestion targets Nordics expansion with Copenhagen office; Trium Capital buys quant specialist Sabre Fund Management
Gabler targets Nordic expansion after sale to Swiss, Danish investors
The Norwegian pension and investment consultancy has sold a 70% stake to Nordic Insurance Consolidation Group
Norway: New public sector scheme agreed
A hybrid framework is set to boost competition in the municipal pensions market
Market bounce boosts second-quarter gains for Portuguese funds
Strong relative investment performance was not enough to compensate for rising liabilities, according to Willis Towers Watson
Portugal: Scene set for broad changes
Pension reform advances with new rules and proposals by the Portuguese government
Spain: Reforms on hold
Chronic political instability has turned attention away from pension reform while features of previous legislation have been undone
Market recoveries prompt 2.2% Q1 return for Spanish funds
Alternative asset classes boost returns after difficult end to 2018, according to Mercer and Inverco stats
Swedish pension funds slam draft IORP II solvency rules
Folksam, AMF and Alecta home in on proposals for traditional guaranteed pensions while industry association says ambiguities in the draft must be addressed
Reprieve for Swedish pension firms as government delays reform
The Timetable for establishing a procured marketplace has been pushed back by four months to the start of 2021, giving managers more time to prepare
Swiss pension funds’ alternatives allocation hits double digits [updated]
Complementa study also finds that pension funds will have to cut benefits to close the gap between required returns and forecast returns
Swiss pension funds facing negative discount rates
Company pension schemes may need to use negative rates to discount liabilities – mean obligations could rise by around 15%
USS ‘pushing regulator to the limit’ on risk, says CEO
£68.5bn scheme’s leaders say they have taken a position of ‘maximum flexibility’ in a bid to resolve a long-running dispute over contributions
Responsible investment policies ‘could boost contributions by £1.2bn’
Franklin Templeton recommends schemes align with member values via better integration of responsible investment into DC strategies
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