Also: Austrian manager excludes carmakers; Trucost launches carbon priving tool
Willis Towers Watson calculates better funding rate but urges reviews of current plans
Even fewer company-operated Pensionskassen remain in Austria
Major pensions legislation will become effective after being passed by Bundesrat
Only a quarter believe introducing DC to Germany will provide opportunities for their businesses
Extreme political risk is usually seen as a characteristic of emerging markets rather than developed
When Andreas Kretschmer was recruited to the pension fund for doctors in the German province of Westfalen-Lippe (ÄVWL) in 1992, he did not know much about pensions. But that was the whole point
Expected increase will cause ‘considerable damage’ to portfolios of euro-denominated government bonds
Swiss and German funds take action to divest from companies; AP2 backs Dutch housing bond
Illiquidity, regulation, and costs all cited as hurdles to diversification, according to survey of Spezialfonds investors
Yields will remain low – but even a small upturn can hurt institutions, conference hears
Diversification of alternatives portfolios is important, but not always possible, conference hears
Debate covers future of DB, DC, and hybrid plans in Austria, Germany and the Netherlands at conference in Vienna
Betriebsrentenstärkungsgesetz to take effect from 2018; new insurance platform launched
Union Investment survey shows increased use of sustainable investment strategies
Reform will include ban on guarantees for any new defined contribution plans
Workshop aimed at UK-based managers thinking about relocating to Germany
Vast majority of supervised Pensionkassen considered to have sufficient ‘risk-bearing capacity’
Draft pension reform law is encountering headwinds on the home straight
80% of institutional investors were satisfied or very satisfied with returns from ESG-tilted allocations
Germany’s discussion on new pension vehicles without guarantees has revealed a much deeper challenge with promises, disappointments and misunderstandings, finds Barbara Ottawa
Verena Menne and Klaus Stiefermann outline concerns about planned reforms to introduce defined contribution pensions to Germany
The reform to introduce pure defined contribution plans is a huge opportunity. But if it does not succeed it may mark the beginning of mandatory corporate pensions
German pension investors continue to diversify their assets against a backdrop of political uncertainty, writes Rachel Fixsen
The latest Willis Towers Watson risk-management study reveals the ongoing challenge that German pension funds face in meeting their liabilities
New rules for BaFin-regulated institutional investors in Germany might appear cap-free, but costs could restrict movement, according to Barbara Ottawa
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
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
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.