German funds’ returns and top-up payments helped keep funding level as interest rates fell
German companies’ pension liabilities approach €400bn, but asset increases leave funding position unchanged
Winner of IPE’s Outstanding Industry Contribution Award dies in road accident
Parliament finishes first reading of BRSG; new BVI statistics on custodians
Court and opposition parties criticised hidden government debt increase through reserves for civil servants
Moody’s warns that rising interest rates will not resolve ‘structural’ deficits
Artesia Bank moves pension from Netherlands to Belgium; Barclays shifts German pension to BVV
Changes to the new pension law proposed by Bundesrat rejected
Consultancy is also weighing up options for its administration business
76% of German investors see costs as important selection criteria – but they are not the top concern
Commission responsible for the code has decided on amendments to the code and its preamble
BVV collected more than €100m in one-off payments from employers seeking to offload book reserve pension schemes
Kempen, Altis, RPMI Railpen, Allianz, Hermes, Lazard, Columbia Threadneedle, Quaero Capital, Insight Investment, Morgan Stanley, MSCI
VFPK warns of ‘fatal’ consequences for savers if government allows guarantees for new industry pension plans
Collective pension fund for metal industry gains record number of new entries in 2016
The government is opening the door to pension plans that will lighten the burden on companies, yet the pensions industry is still dissatisfied, Barbara Ottawa reports
Mercer says unchanged discount rate for tax purposes is a barrier to expansion of occupational pension provision
Government releases data showing employers and employees blaming each other for lack of pension plans
German consultancy Faros publishes insight into opaque institutional fee market
New studies show carbon-related market downturn is underestimated but investors can help reach environmental goals
German pension investors are boxed in. With the prospect of negative 10-year Bund yields, they are forced to expand their fixed-income exposure
Corporate pension schemes need to change the status quo in terms of governance and implementation if they are to meet their goals, writes Nigel Cresswell
The new discount rate to be applied to pension liabilities under German accounting standards simply postpones a serious problem
Thomas Hagemann reviews changes to the discount rate methodology applied by corporates to calculate pension liabilities
The investment industry has successfully lobbied against many new requirements in the investment tax reform law. Barbara Ottawa says it might not be so fortunate in the future
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
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
The lack of demand rather than supply for both credit and capital is a common criticism from investors of the EU’s capital market union (CMU) programme
A few more European cross-border lending opportunities have started to emerge. This follows anticipation of the European Investment Plan launched by Jean-Claude Juncker
There has been a flurry of activity and comment from industry groups on the subject of bond market liquidity