Latest on Regulation & Reform – Page 345
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NewsUK increases pension age ahead of schedule, confirms NEST
UK – The government today announced its intention to go ahead with the foundation of the National Employment Savings Trust (NEST), as well as plans to increase the retirement age to 66 ahead of schedule.
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NewsFinance ministers approve AIFM directive
EUROPE – European finance ministers have cleared the latest version of the Alternative Investment Fund Managers (AIFM) directive, sending it off for an expected rubber stamp by the European Parliament at its plenary session in early November.
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NewsGerman province to discontinue MP fund
GERMANY – The German province of Saxony is thinking to discontinue a pension fund set up for regional MPs due to its inefficiency.
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NewsDutch think tank Netspar outlines research themes
NETHERLANDS – Netspar, the academic network on pensions, retirement and population ageing, has chosen rising longevity, retirement decisions and developing skills of older workers as main research themes for the next three years.
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NewsIOSCO forms task force on OTC derivatives regulation
EUROPE – The Technical Committee of the International Organisation of Securities Commissions (IOSCO) has formed a task force on over-the-counter (OTC) derivatives regulation.
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NewsHungary suspends payments into second pillar in 'hidden nationalisation'
HUNGARY – Hungary has suspended payments into its second-pillar private pension system in an effort to combat its budget shortfall.
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NewsReturn for Swiss pension fund index fails to meet required minimum
SWITZERLAND – The Credit Suisse Pensionskassenindex increased by nearly 2.5 points, or just over 2%, in the third quarter, yet the return failed to meet the legally required minimum rate, according to Credit Suisse.
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FeaturesPortugal: The private sector problem
Reforms to public sector pensions have not been matched by measures to encourage private saving, writes Jim Robinson
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FeaturesSpain: Ill-prepared for austerity
Bloated and unsustainable public provision has stifled private pensions while political wrangling and the pressure for austerity is hampering reform efforts, writes Jim Robinson
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Editor's choice: Social security reform spicing up mid-term elections in US
US – The campaign for the November mid-term Congressional elections is heating up in the US, and one topic raising temperatures is social security reform.
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NewsFrench U-turn brings 'passport' for non-EU AIFMs closer to reality
EUROPE – French authorities' decision not to oppose draft legislation giving alternative investment funds from outside the EU pan-EU marketing rights has brought the 'passport' regime closer to reality, according to Ben Blackett-Ord, chief executive of asset management consultancy firm Bovill.
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NewsEstonia lines up stricter investment rules for pension funds
ESTONIA – Investment regulations for Estonia's second pillar are set to be revised following a post-crisis analysis by the country's finance ministry.
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NewsPPF levy open to abuse, could work against schemes, says Aon Hewitt
UK – Aon Hewitt has warned that proposed changes to the Pension Protection Fund (PPF) levy could end up working against pension funds.
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NewsAFM's Hoogervorst to replace Tweedie at IASB
NETHERLANDS – Hans Hoogervorst, chairman of the Financial Markets Authority (AFM), has been appointed chair of the International Accounting Standards Board (IASB).
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FeaturesBelgium: wait and see
Martin Delaney finds the Belgian pension fund industry waiting to find out if a new coalition government, when it is formed, will have the will to take bold decisions on retirement age
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FeaturesAustria: still searching for the way ahead
Negotiations on the next stage of Austria's pension reform have produced consensus on some points and a pile of wish-lists for further discussion, reports Barbara Ottawa
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NewsRuling on gender equality could be 'headache' for schemes
EUROPE – Pension annuity policy is set to change in the wake of a European Court of Justice (ECJ) opinion that insurance companies should not charge men and women different prices for the same product.
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FeaturesDenmark: Preparing for Solvency II
Gearing up for Solvency II and winding down crisis measures are exercising Danish government and pensions groups, writes Nina Roerhbein
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FeaturesCEE: political changes add to uncertainty on pensions reform
Thomas Escritt looks at recent developments in the pensions systems of some of the regionís major economies
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FeaturesFrance: Retirement age is main target for reform
Nina Roehrbein finds the French government rejecting structural change to the pensions system in favour of modifying parameters such as retirement age and length of service
