Latest on Regulation & Reform – Page 332
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NewsIAS19 changes 'minimally invasive', but more reform to come
GERMANY – The recently revised IAS19 standards will have a moderate effect on German listed companies as the standards are "minimally invasive", but the real reform is still to come, according to Towers Watson Germany.
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NewsUK government announces reforms to public sector pensions
Reforms implement recommendations of Hutton Report, shifting from final salary approach.
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NewsStudy shows major inconsistencies in mortality estimates
French expect 65 year old to live 27 years, yet Danes expect same man to live just 15.
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NewsNetherlands to ease rules on pension provider / financial product link
Minister to allow providers to link products to affiliated, mandatory industry-wide pension funds.
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NewsAdvisers give qualified welcome to IAS19 amendment package
Move will see enhanced disclosure requirements, as well as removal of IAS19 'corridor'.
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NewsEuropean Commission takes Poland to court over IORPs
Gives Estonia two months to incorporate directive 'fully and completely' into national law.
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NewsIASB changes could 'drive pension funds' out of equities
Impact of new rules likely to see flight from equities to bonds.
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NewsUK government will not force pension schemes to adopt CPI
Consumer price index will not be forced on private pension schemes as a measure of indexation.
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NewsRomanian stock market 'ridiculously underrepresented', Fondul Proprietatea
ROMANIA – Restitution fund agrees institutional investors need more opportunities to invest in Romania.
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NewsIMF says Hungarian pension system warrants 'reassessment'
Reiterates 'concerns' about use of some returned pension assets for current spending.
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NewsApplication of Solvency II no 'copy/paste exercise' – EIOPA
Chairman concedes it would be 'natural' to take into account pension funds' unique characteristics.
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NewsFrench experts sceptical of systemic pensions reform
FRANCE – New government to be elected next year expected to launch national debate in 2013.
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NewsAustrian companies will be 'unburdened' by new IAS19 rules
AUSTRIA – Neither scraping of 'corridor' nor use of net interest approach will hurt much, says arithmetica.
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NewsPension funds transfer €12bn to Hungarian government
Second-pillar funds transferred to AKK's Pension Reform and Debt Reduction Fund.
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NewsNetherlands to assess Pensions Agreement's impact on youth
Government bows to industry criticism of Pension Agreement's impact on younger generations.
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NewsSwitzerland unveils new pensions supervisor, names first president
Liberal party MP Pierre Triponez to take reins at Oberaufsichtskommission on 1 August.
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NewsFrench SMEs embracing employee savings vehicles – AFG
FRANCE – Number of SMEs introducing savings vehicles for employees increased by 6% last year.
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NewsAustrian roundup: Solvency II, second-pillar youth survey
USTRIA – Pension funds should "up their game" when it comes to risk management and take a more holistic approach, according to Chinu Patel, independent actuary and member of the Groupe Consultatif Actuariel Européen.
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NewsDutch Pension Agreement 'increases risk' for younger workers – CPB deputy
Alternative for Trade Union (AVV) dismisses controversial agreement as 'useless'.
