Restriction of asset management to investment fund companies criticised by pension fund managers
Equity-weighted fund returns exceeded 9%, while bond funds performed poorly
Transfer of shares to Sava Re is contingent on regulatory approval
Individual Pension Capital plan faces further delays
State-owned PZU Life to buy pension offerings of Bank Pekao
Plus: ERAFP tenders out €2bn currency hedging mandate
Investors missing opportunities in CEE and Greece as niche markets, delegates in Prague told
Central European pension fund eyeing allocations of up to €100m to each asset class
Trade body urges government to promote higher contributions amid demographic pressures
Plus: Bulgaria’s regulator set for financial independence, new Polish pension plans take shape
Growth spurred by Warsaw Stock Exchange bull market
Falling share prices responsible for weaker returns
Fees and contribution rates may also be cut, says prime minister
Also: Estonia’s LHV pension fund invests in Lithuanian internet service provider
Passively managed pension plans will cost half of the industry average, INDEXO chief says
Local asset manager INVL buys fund; becomes second biggest investor in Lithuanian SME Fund
Regulatory and technical complexities cited for the delay
Recommendations include powers to raise levies, improve staff salaries, and receive statutory indemnity
Central bank encourages funds to diversify into assets backing the ‘real economy’
Law dismantling second pillar to be published by mid-year
As budgetary and demographic pressures start to bite, what is the future for CEE pension systems?
A recent panel with members of PensionsEurope’s CEEC Forum discussed regional pensions issues
Auto-enrolment looks to be key to Poland’s pension future. Dismantling of the OFE system remains on hold
The Romanian government has decided to reduce contributions to the mandatory pensions system
The collapse of Croatia’s largest food and drink company in 2017 has barely affected pension portfolios
Companies should revisit pension assumptions during the financial year, IASB says
Dutch schemes could claim €300m back but costs are prohibitive for smaller funds
Change to ‘unconstitutional’ accounting rules getting closer, says Willis Towers Watson
Politicians flag LAPFF’s long-running dispute with Financial Reporting Council as part of Carillion inquiry
The EU’s first-ever blacklist of tax havens has given politicians and pension funds another chance to consider the ethics of investing via opaque or tax-light locations
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As the risk of a no-deal Brexit comes into focus, attention is turning to ways to mitigate the damage across financial services, including asset management and pensions
The EU’s securitisation package has finally passed through the European Parliament and Council. However, the new rules will not be applied until January 2019
The EU’s controversial mandate for a radical shake up of financial supervision has received a cool reception from the pensions sector as well as smaller EU members
International investors in the EU have for decades been suffering from woeful dispute settlement proceedings when involved in cases against public authorities
Discussions over the payment of social costs for workers from central and eastern European countries posted temporarily to wealthier EU countries are playing a major role in the attempt to update existing directives
At first sight, the benefits of the European Commission’s Pan European Personal Pension (PEPP) regulation proposal seem clear. But it did not take long for commentators to point out the considerable hurdles
The European Commission’s “further steps to drive forward the Capital Markets Union (CMU)” outline nine new priority legislative actions to solve the EU’s long-term cross-border investment challenge
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