Latest on Regulation & Reform – Page 347
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NewsAP7's Peter Norman to become Sweden's financial markets minister
SWEDEN – Peter Norman, executive president at AP7, the Seventh National Pension Fund in Sweden, is set to replace Mats Odell as the country's minister for financial markets.
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NewsRobust pensions system may require loss of benefits, says DWP committee member
UK – A member of the select committee for the UK Department for Work and Pensions (DWP) has said a loss of benefits would be acceptable if it meant keeping pension schemes working.
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NewsIncreasing Dutch retirement age by 2020 is 'too little too late'
NETHERLANDS – The increase of the Dutch state pension AOW age from 65 to 66 in 2020 is "too little and far too late" to counter the financial impact of an ageing population, according to Sweder van Wijnbergen, economist at Amsterdam University.
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NewsStorebrand to offer 'flexible' DB pensions despite 2011 deadline
EUROPE – Corporate pensions provider Storebrand is on track to offer a breed of flexible defined benefit (DB) pension when Norway's new pension legislation comes into force in January 2011, despite the very tight deadline.
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NewsEC debt rules still 'inadequate' for countries reforming pension systems
EUROPE – The Polish finance minister has called new proposals for how pension debt is calculated as part of a country's annual debt level "inadequate".
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NewsUK roundup: Baker Tilly, Legal & General, Scottish Widows, Horwath Clark Whitehill
UK – The biggest challenge facing UK trustees, according to Baker Tilly's 2010 confidence survey, is their pension schemes' deficit recovery plans – ahead of both investment strategy and longevity risk.
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NewsDutch fund PME sticks to recovery plan without rights cuts
NETHERLANDS – The board of the €22bn pension fund for the Metalektro (PME) has insisted it can recover its financial position without cutting its participants' rights.
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NewsUK pensions regulator faces legal challenge from Nortel, Lehman Brothers
UK – The Pension Regulator (TPR) is facing a legal challenge from Lehman Brothers and Nortel Group over two Financial Support Directions (FSD) totalling £2.3bn.
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NewsSwiss roundup: Complementa, Swisscanto, second-pillar reform
SWITZERLAND – The true amount of asset management fees paid by Swiss Pensionskassen is unclear and difficult to compare, according to consultancy Complementa.
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NewsUK roundup: Arnold Laver Pension Scheme, Pension Insurance Corporation, PPF, NAPF, KPMG
UK – Trustees of the Arnold Laver Pension Scheme have entered into a pension insurance buyout deal with Pension Insurance Corporation (PIC).
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NewsIrish DB pension schemes at 'tipping point', says Mercer
IRELAND – Defined benefit pension schemes in Ireland have reached the "tipping point", and the government will need to take urgent action to save them, according to Mercer.
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NewsRegulatory pressure to invest in bonds could kill economy, says Belgium's Neyt
EUROPE – Europe is running the risk of "killing" its own economy by applying regulatory pressure on pension funds to make them invest in bonds, according to Philip Neyt, president of the Belgian Association of Pension Institutions.
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NewsSwisscanto justifies pension funding statistics
SWITZERLAND – Swisscanto has defended its figures on funding levels of Swiss Pensionskassen, saying divergences with official stats can be explained by differing samples and methods.
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NewsFrance's proposed changes jeopardising AIFM directive, says Hewitt
EUROPE – Moves by the French government to change the Alternative Investment Fund Management (AIFM) directive are jeopardising the new regulation and could render it meaningless, Hewitt has warned.
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NewsDutch watchdog putting final touches on two-tier financial assessment framework
NETHERLANDS – A new dual-approach financial assessment framework (FTK) will offer Dutch pension funds the option of providing their participants either nominal security or arrangements that target a real coverage ratio but depend on market developments and longevity.
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NewsUK roundup: Hewitt Associates, Barnett Waddingham
UK – Hewitt Associates has warned of a new wave of benefit reviews, as pension schemes come to terms with regulations on pension tax relief and the switch to the consumer price index (CPI).
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NewsLuxembourg's Alfi supports creation of UCITS-backed European Retirement Plans
EUROPE – The Association of the Luxembourg Fund Industry (ALFI) has thrown its weight behind the creation of Officially Certified European Retirement Plans backed by UCITS investment funds.
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NewsGerman province to promote fund-based pensions
GERMANY – The German province of Hessen is aiming to increase the share of small and medium-sized enterprises in the second pillar by promoting fund-based pensions.
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NewsBelgian presidency to focus on European Systemic Risk Board, OTC derivatives
EUROPE – Belgium will focus its energies on implementing the European Systemic Risk Board (ESRB) and streamlining over-the-counter (OTC) derivatives regulation in the final months of its EU Council presidency.
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NewsBrussels: Outgoing deputy director-general Wright on the EU's future
EUROPE – If it's economic advancement you want, with sound return on investments, don't forget the importance of the social environment.
