Debate covers future of DB, DC, and hybrid plans in Austria, Germany and the Netherlands at conference in Vienna
Plus: ERAFP awards €4.6bn of European equity mandates
Mercer data also shows strong results for VBV in higher risk category
Next step is to roll out environmental management system fund-wide
Major Austrian pension fund returns 3.4% for 2016
Austrian schemes return nearly 4.2% on average over 2016
Germany, Austria and Switzerland with system debates – but rather different ones
German industry experts lament loss of British ‘allies’ in EU pensions debate
Schemes return 3.3% on average over first nine months of year
Head of pension fund association also attacks ECB interest rates as ’borderline irresponsible’, expresses hope of greater ’pension coverage
Swiss banks say deal part of move to strengthen collaboration
Investment conference attendees lament state of corporate debt, infrastructure investment
Industry must anticipate lower returns from alternatives, but should still consider allocations, says Thomas Friese
Like their international counterparts, Austrian Pensionskassen must find new sources of return. Barbara Ottawa reports on the potential opportunities
Number of company schemes in country drops to just four
Sustainability, defensive positioning to continue into 2016
Austrian pension provider tenders fixed income fund wrapper using IPE Quest
New policy leads to exclusion of four companies within severance pay fund’s universe
No change to foreign currency discounting; environmental lawyer flags up BoE climate change concerns
Also: IASB puts pension accounting project on hold but presses on with new reporting standards for insurers
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
Strong words on Brexit are flying in political circles. But behind the theatre, concerns about the future of London’s fund management sector are emerging
In contrast to complaints that Brussels’s legislation burdens the financial sector, the European Commission may be gratified by the positive response to its flagship Capital Markets Union (CMU) programme.
Nothing could be clearer. For the financial sector, at least, there is nothing to fear from Brexit. All the UK has to do is to apply to the EU’s rules – the crucial term ‘equivalence’
The European Commission’s project to set up a pension scheme for research and development professionals whose careers take them across EU borders has finally reached its first stages of operation.
The prolongation for 18 months of pension funds’ exemption from posting collateral when trading over-the-counter (OTC) derivatives is leading PensionsEurope to seek clarification.
There is increasing attention in Brussels on company reporting, taxation and offshore financial centres. The G20 and some OECD countries have demanded country-by-country reporting rules for multinational companies with a turnover over €750m
Legislation proposing pan-EU personal pension products (PEPPs) could be tabled in 2017, according to the European Commission
A former director of the European Association of Paritarian Institutions (AEIP) has proposed a new option for occupational pensions that could help the large number of workers whose careers take them across EU internal borders.
Valdis Dombrovskis has assumed responsibility as commissioner in charge of the flagship Capital Markets Union project. But he has also assumed the added complication of the withdrawal of the UK
It will not be the first time that proposed revisions to EU rules affecting finance and pensions get stuck in a logjam between interests groups
Pressure to clean up the financial sector has led to copious legislation from Brussels.
There are plenty of indicators of rising pressure to advance ethical standards across the financial sector. One outcome takes the form of mountains of clean-up legislation, including from Brussels.
Inadequacy of European national court systems in the financial sphere is due for overhaul. Upgrade is necessary if the EU’s capital markets union programme (CMU) is going to get anywhere, according to a high-status paper
Legislative moves to support the EU’s European Fund for Strategic Investments (EFSI) are being rushed through Brussels. But, so far, evidence of any torrent of fund movement by the institutional investment sector across EU frontiers has yet to emerge.
Conflict continues to simmer over the issue of passport rights for non-EU-domiciled hedge funds across the EU
It is a case of tackling one challenge after another in the Capital Markets Union (CMU). According to the European Commission, the present morass of different national insolvency rules creates a barrier to the flow of capital across the EU.
IORP II may have cleared the European Parliament’s committee stage but amendments tabled to the second directive covering occupational pensions since 2003 are so radical that it would be unwise to forecast its future.
Dismally low returns on EU pension fund investments over 15 years? The allegation comes in a study by Better Finance, the European Federation of Investors & Financial Services Users. The report, Pensions Savings: The Real Return, points to excessive fees, points to other charges, and badly framed taxation rules, as the culprits.
Brussels’ financial focus is on aggressive corporate tax planning and the related question of tax havens. This concerns the hedge fund ‘passport’ rights to do business across the EU and compliance of the offshore jurisdictions where they are domiciled to EU norms.
The process of making pensions policy in Brussels between now and end of the year resembles two juggernauts moving towards each other