Latest on Regulation & Reform – Page 351
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NewsMercer calls for progressive risk sharing, LGPS system in all public sector pensions
UK – Progressive risk sharing and a public sector pension system modelled on the local government pension scheme (LGPS) was today urged in a reform proposal made my Mercer.
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UK government should wait to increase retirement age, says NAPF
UK – The National Association of Pension Funds (NAPF) has called for the retirement age not to increase before the end of the decade, warning that a rise to 66 by 2016 would be “too hasty”.
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NewsDutch pension schemes call for 'special position' in EU derivatives legislation
NETHERLANDS – The three main lobbying organisations for pension funds in the Netherlands have asked the European Commission for a "special position" with respect to proposed EU legislation on derivatives and market infrastructure.
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NewsMedium-sized companies in Germany 'unprepared' for accounting changes
GERMANY – Medium-sized companies are not preparing to finance their pension liabilities fully as new accounting standards take effect, the chief executive of Allianz Pension Partners has warned.
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NewsUnion decries 'lynch mob' mentality on public sector pensions
UK – Unite, the largest union in the UK, has attacked the UK government, the media, the private sector and so-called pensions experts for "acting like a lynch mob" on the issue of public sector pension reform.
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NewsNorgrove to step down as chair of UK Pensions Regulator
UK – David Norgrove, chairman of the UK Pensions Regulator (TPR), is stepping down at the end of this year.
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UK roundup: BA, the Pensions Regulator, Towers Watson, Mercer
UK – The Pensions Regulator has agreed to a recovery plan for British Airways’ (BA) two pension schemes in a move that makes a merger between the airline and Spanish carrier Iberia evermore likely.
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NewsUkraine agrees to pension reform in exchange for $15.5bn IMF loan
EUROPE – Ukraine has agreed to "robust structural reforms" of its pension system in exchange for a $15.5bn (€11.9bn) loan from the International Monetary Fund (IMP).
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NewsRoyal Mail to make 'substantial contributions' to tackle £8.4bn scheme deficit
UK – The trustee of the Royal Mail Pension Plan has reached an agreement with Royal Mail on funding that will involve "substantial contributions in excess of the current level".
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NewsHymans Robertson warns of 'demise' of pension system
UK – Taxing pension savers below the annual allowance could "accelerate" the demise of pensions, Hymans Robertson warned today.
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NewsIndex-linked bonds would improve pensions certainty, says DNB
NETHERLANDS – The Dutch government could increase certainty for pensions by issuing inflation-linked bonds, pensions regulator De Nederlandsche Bank (DNB) has said.
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NewsUK government to unveil pension tax relief plans by autumn
UK – The government today published a discussion paper examining proposed changes to pension tax relief and said to expect a decision on the matter by autumn.
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NewsTax-friendly 'levensloop' draws record deposit in Netherlands
NETHERLANDS – The discussions about the rise of the retirement age might have triggered a record amount deposited in tax-friendly 'levensloop', or 'life course' accounts, Statistics Netherlands (CBS) has suggested.
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NewsUK government considers career-average pensions for ministers
UK – The government has revealed details of possible reform for ministerial pensions, with changes that will bring MPs' retirement benefits in line with changes to the overall pension system.
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NewsUnion threatens Ford with legal action over Visteon pensions
UK – Ford is facing a lawsuit over pension rights for the former employees of Visteon, a supply group sold by the company in 2000.
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NewsUK roundup: Ofcom, BT, Havering
UK – BT has suffered a blow in its bid to offset its £7.6bn pensions deficit by increasing the wholesale rates it charges competitors.
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NewsUSS board approves scheme changes
UK – The board of the £28bn (€33bn) Universities Superannuation Scheme (USS) last night approved changes that will see new scheme members paid career-average pensions rather than ones based on their final salary.
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NewsUK roundup: The Pensions Regulator, Hewitt, John Lewis Pension Fund
UK – The Pensions Regulator today released its annual report and accounts, outlining all actions it has taken over the last year, while Hewitt urged employers to prepare for the changes to pension taxation before a final legislation was drawn up and John Lewis Pension Fund significantly reduced its stake ...
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NewsOECD calls for better counter-cyclical funding regulations for DB schemes
GLOBAL – Governments and policymakers must do more to make defined benefit (DB) pension schemes' funding regulations more counter-cyclical in the wake of the financial crisis, according to the Organisation for Economic Co-operation and Development (OECD).
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UK Roundup: The Pensions Regulator, ITN, Shropshire
UK – The Pensions Regulator has published new guidance on index-linking to the consumer price index (CPI) that could see pension schemes forced to pay their deficit sooner than previously agreed.
