Latest on Regulation & Reform – Page 350
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NewsLobbying bodies urge Dutch Parliament to resist wholesale rights cuts
NETHERLANDS – Pension fund organisations VB, OPF and UvB have urged the Dutch Parliament to resist a wholesale cut of pension rights based solely on the applied method for calculating pension funds' coverage in the wake of historically low interest rates.
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NewsLast five funds on Dutch list remain tight-lipped
NETHERLANDS – Five of the 14 Dutch pension funds facing rights cuts still have not made themselves known despite calls from regulator De Nederlandsche Bank (DNB), the Authority Financial Markets (AFM) and the pension schemes' lobbying organisation VB.
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NewsNorway Global excludes companies for breaching Geneva Convention
EUROPE – The NOK2.8trn (€352bn) Government Pension Fund Global (GPFG) is planning to exclude two Israeli companies and one Malaysian company, worth a combined NOK15m, from its investment universe.
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NewsMercer warns pension tax-relief proposals could accelerate demise of DB
UK – Mercer has warned that current proposals for pension tax relief could accelerate the demise of defined benefit (DB) schemes in the UK.
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NewsNAPF calls for six-month grace period for auto-enrolment
UK – The National Association of Pension Funds (NAPF) has called on the UK government to introduce a waiting period for auto-enrolment as to not damage already existing employer pension schemes.
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NewsDutch Parliament calls emergency meeting as pension storm rages
NETHERLANDS – The Dutch Parliament is set to discuss the possibility of rights cuts at 14 pension funds with social affairs minister Piet Hein Donner during an emergency debate on Tuesday.
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NewsMetal scheme PME facing rights cut
NETHERLANDS – The €22bn metal scheme PME is among the 14 pension funds likely to cut their pension rights and benefits following an announcement by Dutch social affairs minister Piet Hein Donner.
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Supervisors' criticism leads chairman of Dutch notaries scheme to resign
NETHERLANDS – The chairman of the occupational pension fund for Dutch notaries (SNPF) has stepped down, following serious criticism from both internal supervisors and the accountability body on how the executive board is run.
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NewsDutch schemes to consider alternative measures before cuts
NETHERLANDS – A number of Dutch pension schemes with very low coverage ratios have said they will consider alternative options before cutting pension rights and benefits.
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NewsAIMA: AIFM directive could damage German Spezialfonds
EUROPE – Andrew Baker, chief executive of the Alternative Investment Management Association (AIMA), has warned that the European Union's Alternative Investment Fund Manager (AIFM) directive risks damaging hedge funds and German Spezialfonds if not carefully drafted.
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NewsDonner calls on 14 Dutch schemes to cut benefits by 2011
NETHERLANDS – Fourteen Dutch pension funds must start cutting pension rights and benefits on 1 January 2011, as their shortfalls have grown too large, social affairs minister Piet Hein Donner has decided.
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NewsEuropean Commission 'analysing' EU members' proposal on pension debt
EUROPE – Nine countries have sent a letter to the European Commission asking for changes to how private pension debt is included in the calculations of a country's debt levels.
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NewsDanish pension funds in talks over €670m VC fund
DENMARK – Key players in Denmark's pensions industry have begun talks with the government to set up a DKK5bn (€670m) venture capital fund.
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NewsGermany simplifies transfer of accrued benefits
GERMANY – Moving accrued benefits between different forms of retirement provision vehicles in Germany will now be easier, as regulations were extended to include certain Pensionsfonds.
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NewsApplying CPI switch retroactively will create 'mismatch', says State Street
UK – Applying the switch from the retail price index (RPI) to the consumer price index (CPI) retroactively will create a pension system where "virtually everything" done to date will be "mismatched", State Street Global Advisors has warned.
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NewsUK Roundup: TUC on NEST, Royal British Legion appoints Hewitt
UK – The Trades Union Congress (TUC) has warned government against backtracking on plans for auto-enrolment, claiming it would consign another generation to pensioner poverty.
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NewsHungary fights for control of its €9.5bn private pension system
HUNGARY - Hungary's World Bank-style three-pillar pension system is an international imposition, according to the prime minister’s top economics adviser, who said the country should be free to account for and structure its pension system as it sees fit.
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![Applying switch to CPI retroactively could violate Human Rights Act, experts warn [updated]](https://d3ese01zxankcs.cloudfront.net/Pictures/100x67/0/6/9/39069_Westminster.jpg)
NewsApplying switch to CPI retroactively could violate Human Rights Act, experts warn [updated]
UK – A group of pension experts today warned the Department of Work & Pensions that proposed changes linking pension increases to the consumer price index (CPI) rather than the retail price index (RPI) could be in violation of the country’s Human Rights Act.
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NewsGermans asked to work longer, not retire later
GERMANY – A planned increase in the statutory retirement age should be postponed to prevent “pension cuts”, the opposition party SPD has demanded.
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NewsIncrease in state pension age must account for shorter lifespans of poor, says PPI
UK – The Pensions Policy Institute (PPI) today warned that any increase to the state pension age (SPA) should take the inequalities of life expectancy between high-end earners and those on lower incomes into account.
