Latest on Regulation & Reform – Page 353
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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.
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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.
