Latest on Regulation & Reform – Page 344
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NewsMercer: France must shift toward funded pension system
FRANCE – Reforms to the French pension system are only the first step toward improving the country's retirement system and should involve a shift toward a funded pension system, Mercer has said.
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NewsVan der Pol appointed chairman of new Dutch Pension Federation
NETHERLANDS – Kick van der Pol has been appointed chairman of the new Dutch Pension Federation, the umbrella body of lobbying organisations VB, OPF and UvB.
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NewsIndustry heavyweights reject application of Solvency II rules to pension funds
EUROPE – Representatives from the European pension fund industry have poured cold water over the possible application of Solvency II rules to pension schemes mooted earlier this year in the EU Green Paper.
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NewsIASB failing to prioritise IAS19, says International Actuarial Association
GLOBAL – IAS19 standards on pension fund accounting are not a top priority for the IASB at the moment, according to Paul Thornton, head of the International Actuarial Association (IAA).
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NewsEC Commissioner says pension reforms may have to go further
EUROPE – Lásló Andor, the European Union's Commissioner for employment, social affairs and inclusion has said that while member states may well have introduced pension reforms, they may need to go further.
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NewsUK roundup: NAPF, Pension Quality Mark, DWP, CBI, Xafinity
UK – The Secretary of State for Work and Pensions Iain Duncan Smith yesterday said that auto-enrolment heralded a "tipping point" for pensions.
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CEIOPS chair calls for risk and liability harmonisation
EUROPE – A common framework should be applied to pension liability and risk calculation, according to Gabriel Bernadino. chairman of the Committee European Insurance and Occupations Pensions Supervisors (CEIOPS).
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NewsProposal would send Denmark's 'forgotten' pension funds to ATP
DENMARK – ATP could see more business coming its way if a proposal to transfer "forgotten" funds held in dormant Danish pensions accounts to the country's largest pension fund comes to fruition.
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NewsUK increases earnings threshold for auto-enrolment, allows 90-day grace period
UK – The UK government has announced the results of its review of automatic enrolment and the National Employment Savings Trust (NEST), raising the minimum earnings threshold in line with income tax.
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NewsCEIOPS to recruit chairperson, executive director for EIOPA
EUROPE – The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) is looking to recruit a chairperson and an executive director for the new European Insurance and Occupational Pensions Authority (EIOPA).
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NewsAIFM directive clears another hurdle
EUROPE – The European Parliament and the Council of the EU have cleared the Alternative Investment Fund Managers (AIFM) directive at a closed meeting today.
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Changes to Hungarian pension system will undermine confidence, says IMF
HUNGARY – The International Monetary Fund (IMF) has warned that Hungary’s recently announced pension reforms risk undermining confidence in the system and constitute a “significant step back” for the country.
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NewsSwiss roundup: Swisscanto, Credit Suisse, Melbourne Mercer
SWITZERLAND – Funding at Swiss Pensionskassen has returned to levels seen at the end of last year, according to a survey by Swisscanto.
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NewsUK roundup: NAPF, PwC on state pension reform, Aon Hewitt on tax relief
UK – The government has confirmed plans for a reform of the state pension system, with expectations of a flat-rate pension for all by 2015.
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NewsFrench pension reforms clear senate, closing in on final approval
FRANCE – Reforms that will see France’s state pension age increase from 60 to 62 have passed one of the final hurdles, having been approved by the country's upper house.
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NewsDutch Labour Foundation calls for extension of premium cushioning
NETHERLANDS – The Dutch Labour Foundation (STAR) has called on Henk Kamp, the new social affairs minister, to continue to allow pension funds to cushion their contributions.
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NewsUK government must cover bulk of BT scheme deficit, court rules
UK – The UK government must cover the BT pension scheme's £7.6bn (€8.4bn) funding shortfall, the Royal Court of Justice has ruled.
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NewsBulgaria takes steps to pull funds from professional pension schemes
BULGARIA – The Bulgarian council of ministers has decided to stop contributions to professional pension funds from next year and eventually withdraw all accrued assets from the funds.
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NewsPension savers may shun NEST due to high cost of debt repayment, consultancies say
UK – Towers Watson has warned that the level of debt repayment the recently confirmed National Employment Savings Trust (NEST) is facing could dissuade savers from using the platform.
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NewsHungary takes first steps toward dismantling private pension system
HUNGARY – The Hungarian government has embarked on a communications offensive to encourage the country's funded pension scheme members to opt back into the pay-as-you-go state pension pillar.
