Latest on Regulation & Reform – Page 320
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News
Unions challenge 'unlawful' pensions indexation switch in UK court
Group launches High Court challenge to overturn switch from RPI to CPI.
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NewsEIOPA extends IORP directive consultation deadline to January 2012
Decision to extend consultation period comes as a surprise to the industry
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NewsGermany's aba urges strengthening of second pillar, auto-enrolment
GERMANY – Unveiling proposals for strengthened bAV, group reiterates call for pension panel with government.
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NewsFrance's COR criticises complexity of €8.1bn pension transfer system
FRANCE – Just three pension schemes are currently supporting 92% of capital transfers to boost weaker schemes, finds report.
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News
End of contracting-out may be achieved through statutory override, admits DWP
Department for Work & Pensions declines firm commitment, but says it is examining options.
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NewsNext stage of IORP consultation to launch this week
EIOPA stakeholder group told of "massive" consultation, expected to launch Tuesday.
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News
Swedish roundup: Solvency II regulations, Österåker, Swedbank
Swedish government urged to introduce new regulatory framework for pensions.
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NewsWebb pledges to 'facilitate' pension guarantees, risk-sharing in DC
Minister pledges legislation if need be, but promises changes will not amount to "low-level DB".
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News
CEE countries unlikely to come under IORP directive, predicts EIOPA stakeholder member
Ruth Goldman criticised exemption of unfunded schemes – would make “absolutely no sense”.
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NewsEU concerned about 'pressure and scrutiny' on pension funds
Commissioner László Andor concedes insurance, pensions industries like 'apples and oranges'.
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NewsUK should consider managed DC pension schemes – Lord Hutton
Attacks DC fund charges, citing NEST as proof that schemes are able to keep costs low.
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NewsCDS, short-selling 'crackdown' could cause significant volatility – experts
Pundits point to drastic reduction of CDS liquidity, leading to volatility of prices.
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NewsUK government 'of course' considering delay of auto-enrolment – Darling
Delays would risk undermining reforms 'permanently', former chancellor warns.
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NewsQE2 'torture' could increase pension deficits by £45bn
Gilt buyback will suppress long-term rates, have 'nasty' side-effects, NAPF says.
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NewsBasel III, Solvency II could provide 'investment options' to pension funds
Schemes could fill gap left by banks, insurance companies, says Lancashire County Council.
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NewsEmployers 'fully behind' Dutch Pensions Agreement, says PwC
But 90% say information provided by government and social partners is 'vague'.
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NewsImplementing Hutton report would save local authority schemes £900m, says LPFA
Implementing report by 2013 would achieve savings target 'without need for constant change'.
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NewsCourt rejects Lehman Brothers, Nortel appeal in UK pensions regulator case
Watchdog had asked companies to pay £148m and £2.1bn, respectively, to cover deficits.
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NewsCzech Senate sends message by rejecting pensions reform bill
Raft of legislation would have created mandatory second-pillar funded pension system.
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NewsUK shift on pension age 'does not go far enough'
Government to delay state pension age increase in response to 'raw deal' for women.
