Latest on Regulation & Reform – Page 304
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NewsEIOPA to postpone paper on QIS for holistic balance sheet plan
EIOPA spokeswoman confirms consultation paper unlikely to be ready this month.
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IMF applauds Czech Republic's second-pillar pensions reform
CZECH REPUBLIC – Government will need to ‘weigh short-term impact against longer-term benefits’.
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NewsOutgoing Dutch government manages to bring forward retirement age
Majority support in parliament allows government to increase retirement age to 67 from 2023.
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NewsOECD report on sustainable DC highlights income adequacy
Policymakers embracing systems with long contribution periods, minimal 'leakage'.
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NewsSwiss companies introduce 'pure DC' elements to offset IAS19
Half of listed companies to introduce similar elements in next five years, says Towers Watson.
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Austrian parliament finally approves reform of second-pillar pension system
AUSTRIA – Amendment a ‘manicure for someone suffering multi-organ failure’, says opposition.
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NewsUK parliamentarians step up pressure on defined contribution pension fees
NAPF gains wide support for code of conduct on fees, which MPs branded a 'drag' on returns.
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NewsAba supports German ministry's proposal for 'top-up' pension
GERMANY – German pension fund association throws support behind plans to top up minimum pensions.
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NewsSolvency II 'designed for financial repression', says DWS
CIO at Deutsche Bank division cites negative yields on Finnish, German, UK and US bonds.
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NewsEuro will survive, but prepare for bumpy ride – Bini Smaghi
Former ECB board member laments authorities' 'inefficient' habit of reacting to market pressures.
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Dutch pension funds risk losing younger generations' trust – AFM
Communications watchdog calls for implementation of extensive pensions ‘dashboard’.
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NewsSolvency II 'look through' approach a threat to fund managers – State Street
Legislation could force asset managers to reveal their hands 'inadvertently', company warns.
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NewsInvestment funds in line for €20bn tax rebate after ECJ ruling – PwC
Investment funds win case against 'discriminatory' withholding tax in France.
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NewsUK government to legislate 'landmark' state pension changes by 2013
Details of pension reform confirmed by Queen's opening of parliament.
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NewsConsensus on pension insurance fund still eludes German stakeholders
GERMANY – Committee has 'reservations' about logic behind levy because 'risks have diverged'.
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NewsAIFM Directive could spur development of onshore hedge fund market – survey
Experts say onshore move would pique pension funds' interest in alternative strategies.
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NewsIrish pensions industry calls for greater clarity in DC regulation
Submissions to Pensions Board urge greater tax, retirement age and vehicle conformity across system.
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NewsNew Swiss pensions supervisor to make underfunding a priority
Schemes must present recovery plans by year-end 2013 and reach 100% funding within 10 years.
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NewsHolistic balance sheet approach a 'danger' to occupational pensions
German pension fund association laments 'lack of compromise or Plan B' in Brussels.
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NewsIAPF highlights 'substantive issues' with Irish Pensions Bill
Raises concerns about equal risk profile for all EU sovereign bonds.
