Latest on Regulation & Reform – Page 345
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NewsEuropean insurers call for level playing field with pension funds
EUROPE – European insurers have called for the principle of 'same risks, same rules' to be applied to the regulations covering life insurers, institutions for occupational retirement provision (IORPs) and mutual funds offering guaranteed benefits.
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NewsZurich canton rules against BVK outsourcing
SWITZERLAND – The Zurich Canton administration has dismissed a motion to outsource the asset management of the scandal-ridden BVK Pensionskasse from the financial department.
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NewsUK IMA backs pan-European pensions wrapper in Green Paper submission
EUROPE – The Investment Management Association (IMA) has endorsed the idea of a pan-European pension wrapper in its submission on the European Commission (EC) Green Paper on pensions.
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NewsUK pensions minister under fire over CPI linking
UK – UK pensions minister Steve Webb has come under fire from scheme trustees at the TUC Pension Trustee conference for switching the inflation index for public and private sector pensions from the retail price index (RPI) to the consumer price index (CPI).
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NewsEC must be cautious when defining pensions, says CEIOPS
EUROPE – The European Commission's Green Paper on pensions must be wary when defining exactly what constitutes a pension or risk excluding existing schemes, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has warned.
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NewsEven re-insured companies must pay insolvency levy, German court rules
GERMANY – A German court has ruled that companies must pay a levy to the insolvency fund PSV even if they re-insure their pension schemes.
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NewsUK roundup: NAPF, NEST, State Street, TCS, Barnett Waddingham
UK – Two out of five local government pension experts oppose the idea of pension superfunds, according to a survey by the National Association of Pension Funds (NAPF).
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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.
