Latest on Regulation & Reform – Page 270
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NewsUK state pension reform to trigger DB scheme closures – Aon Hewitt
UK – End of contracting seen by many companies as reason to close schemes.
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Four in 10 Irish DB schemes yet to submit funding proposals
IRELAND – Opposition Fianna Fail party reveals 40% remain in breach of June deadline, down from over 70%.
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NewsDutch should reconsider 'flawed' new FTK contracts
NETHERLANDS – Experts calls on social partners to design alternatives to real, nominal contracts.
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NewsIrish regulator proposes minimum standards for DC
IRELAND – Pensions Board proposes approach that would combat conflicts of interest in master trusts.
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NewsUK roundup: Auto-enrolment, DWP, Sembcorp, SEI
UK – Auto-enrolment opt-out rates see only 9% of workers in large companies veto pensions.
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NewsIASB Interpretations Committee rejects IAS 19 corporate lobbying bid
GLOBAL – European companies lobbied to relax discount rate for defined benefit pension liabilities.
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Austrian pension fund association expects union support on reform
AUSTRIA – FVPK says unions will back inclusion of occupational pensions in collective-bargaining.
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ESMA further clarifies custodians' role under contentious EMIR article
EUROPE – European regulator says custodians may be used for ‘operational aspects’ of clearing.
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Portugal submits draft pensions reform as it struggles with deficit
PORTUGAL – Government might try to change ‘sustainability factor’ calculation, Towers Watson says.
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UK roundup: Xafinity, Buck Consultants, TPR
UK – Xafinity sees increase in UK-wide DB deficits despite £42bn increase in sector’s AUM.
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NewsInterest rates driving increase in use of consultants – Mercer Germany
EUROPE – Consultancy also cites impact of 'politically driven' regulatory changes.
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PPF shift to bespoke insolvency risk model 'could increase transparency'
UK – Towers Watson says model catered to PPF’s needs could be more open with how companies are assessed.
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FRR, ERAFP make commitments to new debt fund for SME projects
FRANCE – So far, 17 French insurance companies have expressed interest in fund.
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NewsUK fund for Icelandic bank recovers £2m from administrators
UK – Deposit made shortly before insolvency should not count towards Section 75 debt, court rules.
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NewsMercer Germany blasts Portability Directive's stance on vesting periods
EUROPE – Consultant says Brussels wants to shorten vesting periods 'through backdoor'.
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Pension Protection Fund to design bespoke insolvency risk score
UK – Lifeboat fund to replace current provider Dun & Bradstreet with Experian.
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NewsMost of UK pensions industry backs DC models for defined ambition
UK – Aon Hewitt poll finds little appetite for bare-bones defined benefit.
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NewsGermany's answer to AIFMD makes waves in real estate
GERMANY – Local real estate investors adapt to newly adopted Kapitalanlagegesetzbuch.
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NewsEC should avoid 'unnecessary changes' to IORP – Aon Hewitt
EUROPE – Consultancy says Brussels should instead tackle issues surrounding accrued pension rights.
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Deficit contributions outstrip dividends at some FTSE 350 companies
UK – Consultancy Barnett Waddingham identifies nearly two dozen companies.
