Latest on Regulation & Reform – Page 329
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NewsGerman pension scheme VBL wins court case over top-up premiums
GERMANY – Federal court rules payments demanded by supplementary pension scheme were legitimate.
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NewsStrategy of Spain's Social Security Reserve Fund 'should not be political'
Towers Watson responds to politicians' proposal to use €67bn fund to buy regional bonds.
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NewsWrite-downs on bank shares force NPRF to revise return to 3% loss for 2010
Fund's directed portfolio – invested exclusively in AIB and Bank of Ireland – falls by 25.7%.
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NewsInvestors of two minds on latest Greek bailout measures
While some welcome proactive approach, others warn banks will remain 'toxic' assets.
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NewsCompanies 'must review' pension fund investment strategies under IAS19
Firms should check strategies, asset allocations to assess de-risking benefits, says Mercer.
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NewsSpain considers using Social Security Reserve Fund to invest in regional bonds
Autonomous communities accumulated around €155bn of debt in 2010 – 10.9% of GDP.
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UK roundup: Heineken, Scottish & Newcastle, NAPF, BlackRock, Creative Benefits
Brewer Heineken closes DB scheme to new accrual, opens DC scheme for employees.
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NewsLithuania to cap pension fund contributions at 2%, allow opt-outs
Lithuania could introduce cap to pension fund contributions from 2013 with revision after 2020.
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NewsUK roundup: Department for Work & Pensions, Cardano, Pitmans
Government launches consultation on implementation of auto-enrolment legislation.
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NewsUK government to hold scheme-by-scheme talks on pensions reform
Treasury says talks between unions, chief secretary Danny Alexander to continue as well.
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Trustees not 'moral police' insist industry heavyweights
Criticism comes in wake of report highlighting “systematic implications” of shift away from long term investing.
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NewsInquiry into Swiss BVK real estate division finds 'inadequacies'
Experts criticise lack of staff and need for governmental approval on property deals.
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NewsUK executives swap pension contributions for cash, says LCP
Lower cap on pension tax relief means executives opt for higher basic pay packages.
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NewsCzech lower house signs off on second-pillar pension reforms
CZECH REPUBLIC – Reforms should bring country one step closer to compliance with IORP Directive.
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NewsUK roundup: AEGON, Kames, Uniq, Greencore, TPR, Chemtura
AEGON rebrands UK business as Kames Capital, retains Andrew Fleming as chief executive.
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IMF weighs in on pension systems in Germany, CEE
EUROPE - According to the IMF, German Pensionskassen can survive a low-interest rate environment for several years - but the organisation sees pension book reserves held on balance sheets becoming a problem. In its most recent assessment of Germany, the International Monetary Fund (IMF) stated that “soundness indicators” ...
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NewsCourt forces IBM Germany to pay full pension insolvency levy
GERMANY – Spokesperson says company has 'taken notice' of ruling, but still weighing next steps.
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NewsOECD urges Austria to roll back early-retirement incentives
AUSTRIA – Says country has one of lowest actual retirement ages compared with retirement age.
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NewsQ&A with Raphaël Hadas-Lebel, president of COR, on recent reforms in France
President of Conseil d'Orientation des Retraites talks about further pension reforms in France.
