Latest on Regulation & Reform – Page 343
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NewsMEP slams Commission for ignoring small business in pensions Green Paper
EUROPE – Ria Oomen-Ruitjen, MEP, has slammed the European Commission's Green Paper on pensions for neglecting small and medium-sized (SMEs).
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NewsUK roundup: Pension Capital Strategies, Fair Pensions, KAS Bank
UK – FTSE 100 companies' pension deficits have declined by £8bn (€9.3bn) to £66bn over the last year, according to figures released by Pension Capital Strategies.
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NewsTPR guidance on employer-related assets could 'jeopardise' member benefits
UK – The UK Pensions Regulator (TPR) has issued guidance on the use of non-cash contributions to pension funds, with critics saying the recommendations could jeopardise benefits and complicate funding negotiations.
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NewsGerman pension insolvency fund slashes levy
GERMANY – The German Pensions-Sicherungs-Verein (PSV), which takes on insolvent companies' pension liabilities, has set its 2010 levy at 1.9/m.
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NewsCzech Republic facing EU penalty over IORP
EUROPE – The European Commission has rapped the Czech government for failing to comply with a court ruling from January on the implementation of the IORP pension fund directive.
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NewsUK roundup: Aon Hewitt, Skandia Investment Group, Gartmore, PMI
UK – Pension trustees in the UK are spending far too little time on investment, according to Aon Hewitt.UK – Pension trustees in the UK are spending far too little time on investment, according to Aon Hewitt.
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NewsIrish roundup: NPRF, Irish Congress of Trade Unions, state pension
IRELAND – Ireland should use much as €6bn of funds from the National Pension Reserve Fund (NPRF) for targeted infrastructure investments, the Irish Congress of Trade Unions (ICTU) has argued ahead of the unveiling of the 2011 Budget.
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NewsHungary's pension funds to sue over €1.5bn government contribution cuts
HUNGARY – Hungary's pension funds have turned to the country's constitutional court in a bid to overturn legislation that will deprive them of contributions for 14 months.
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NewsUK roundup: Tyne & Wear, JP Morgan, BlackRock, LLMA, Aon Hewitt
UK – The Tyne & Wear Pension Fund has awarded four investment mandates, worth a total of £1.3bn (€1.5bn), to companies including JP Morgan Asset Management and BlackRock.
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NewsDenmark's PKA allays concerns over Solvency II, guarantees
DENMARK – Danish labour-market pensions organisation PKA has stated publicly that it is on track to meet upcoming requirement under Solvency II and that guarantees on pensions arrangements will continue.
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NewsUK roundup: IMA on DC governance, Hogan Lovells on US tax changes
UK – The Investment Governance Group (IGG) has published a set of guidelines outlining the best governance procedures for future defined contribution (DC) schemes.
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NewsSwiss roundup: SAP fund, funding levels, PKZH
SWITZERLAND – The Swiss subsidiary of SAP Group is reducing the buffers in its Pensionskasse and will allow its members participate directly in capital markets.
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NewsDNB handling of financial assessment framework 'lousy'
NETHERLANDS – The way the Dutch pension supervisor De Nederlandsche Bank (DNB) has implemented the financial assessment framework FTK has been "lousy", according to economist Sweder van Wijnbergen.
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NewsDutch must increase retirement age urgently, experts say
NETHERLANDS – Social partners and the Dutch government must focus on increasing the retirement age as a means of countering the effects of increasing longevity, a large number of experts have argued.
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NewsIOPS urges more risk-based supervision for pension funds
GLOBAL – The International Organisation of Pension Supervisors (IOPS) has called for a more risk-based approach to pension supervision as it unveiled a range of supervisory tools at its annual general meeting in Australia.
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NewsPortugal Telecom in talks to transfer pension assets, liabilities to state
PORTUGAL – Portugal Telecom, the country's largest telephone company, has confirmed it is in discussions with the Portuguese government to transfer almost €3bn in pension assets liabilities to the state.
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NewsNorges Bank reiterates call to allow private equity in Pension Fund Global
NORWAY – The governor of the Norwegian Central Bank has again called for investment guidelines on the NOK2.8trn (€351bn) Pension Fund Global (NPFG) to be relaxed, allowing it to invest in private equity.
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NewsDelayed recognition consigned to scrap heap as IASB sticks with net interest
GLOBAL – The International Accounting Standards Board (IASB) has rejected a staff proposal calling on the board to drop the proposed net-interest approach for the presentation of defined benefit (DB) pension plan components in an entity's statement of comprehensive income (SOCI).
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NewsBulgaria abandons plan to nationalise pension system
BULGARIA – The Bulgarian government has said it will abandon its plans to redirect funds from 'professional' pension funds into the first pillar, but it will withdraw some money for early retirees.
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NewsDutch pensions regulator gives ground on 2011 contribution rule
NETHERLANDS – Dutch pension funds will not have to raise their contributions in 2011 to improve coverage ratios, the pensions supervisor De Nederlandsche Bank (DNB) has decided.
