Latest on Regulation & Reform – Page 366
-
News
UK pension funds saved from short-selling reform
[15:50 CET 26-01] UK – A proposed amendment to the UK Financial Services Bill 2009-10, which would require pension schemes to give express permission for their funds to be lent for short-selling purposes, has has been withdrawn after MPs described it as "blunt and inflexible".
-
News
EHR unveils ideas to address ageing UK workforce
[16:10 CET 25-01] UK – Abolishing the default retirement age (DRA) alone will have "little impact" on extending people's working life, according to research from the Equality and Human Rights Commission.
-
News
Pensions Board advises trustee to review admin focus
[16:00 CET 25-01] IRELAND – Trustees have been warned they must still resolve thier own administration issues even though administrators are now separetely regulated by the Pensions Board.
-
News
Hammersmith explores 'intra London' admin service
[16:50 CET 22-01] UK – The London Borough of Hammersmith & Fulham is exploring the possibility of establishing an "intra-London authority" framework for pensions administration, as its existing mandate with the London Pensions Fund Authority (LPFA) is about to expire.
-
News
Pensions should be top priority in CEE, says IMF
[16:35 CET 22-01] EUROPE – When it comes to structural reforms CEE countries should tackle pension first, a representative of the International Monetary Fund (IMF) said – and Romania is taking a first step.
-
News
Ports in a storm over who pays pensions contributions
[16:05 CET 22-01] UK – Trustees behind a pension fund for marine pilots have launched a complex legal case has begun in the UK High Court to determine the definition of an employer for the purpose of funding pension scheme liabilities, and the point at which an employer stops being an employer.
-
News
FRC seeks overseas feedback on Stewardship Code
[16:30 CET 20-01] UK – The Financial Reporting Council (FRC) is urging cross-border investors to highlight any potential conflicts between the proposed Stewardship Code for institutional investors and existing requirements and codes in other countries.
-
News
Pensions sector must raise consumer knowledge - AFM
[16:30 CET 20-01] NETHERLANDS – The Dutch pensions communications regulator AFM will initiate a discussion with the pensions sector about the need to increase employees’ pensions knowledge, as research found over 30% of pensioners are disappointed with the pensions income they receive at retirement.
-
NewsFTK should target the real cover ratio – Frijns Committee
[16:15 CET 20-01] NETHERLANDS - The financial assessment framework (FTK) for pension funds must be aimed at the real cover ratio, rather than the nominal funding ratio as at present, an adviser committee to the Dutch government has recommended.
-
News
Irish trustees offered online training
[16:15 CET 18-01] IRELAND – The Pensions Board has launched an e-learning system, to help trustees meet the training requirements coming into force next month.
-
NewsUK public authorities forced to ring fence pensions
[15:45 CET 18-01] UK - Local authorities will no longer be able to borrow money from public sector pension funds and will be forced to ring fence assets in separate bank accounts.
-
News
Czech Republic should apply IORP Directive - ECJ
CZECH REPUBLIC – The European Court of Justice (ECJ) has ruled the Czech Republic has acted in breach of European law by failing to implement the Institution for Occupational Retirement Provision (IORP) Directive, even though the country does not actually have any IORPs.
-
News
Alternatives Directive predicted to raise Dutch pension costs by 6%
[16:40 CET 14-01] NETHERLANDS - Current European Commission proposals to introduce a directive governing alternative investments managers would increase pension costs by 6%, as it would limit investment options and the spreading of risk, a large sector of the Dutch pensions market has claimed.
-
News
Starting gun misfired on UK’s pensions
[16:00 CET 13-01] UK – Consulting firm Towers Watson has criticised the UK government’s pensions auto-enrolment strategy for all employers and likened its application to hosting just one event at the 2012 Olympics.
-
News
Swiss gov't to keep lump sum pension tax advantages
[16:00 CET 12-01] SWITZERLAND – People who choose to take lump sum payouts at retirement get tax advantages under the Swiss mandatory second pillar compared with those who choose regular pension payments. And it is going to stay this way, according to the government.
-
News
FTK only needs fine-tuning, claim Dutch actuaries
[14:30 CET 12-01] NETHERLANDS – The Dutch Actuarial Society (AG) believes the existing financial assessment framework for pensions (FTK) requires only fine-tuning and is not in need of a major overhaul.
-
News
Merging LGPS 'impossible' for governance reasons
[13:00 CET 12-01] UK – The case for merging the administration of the Local Government Pension Scheme (LGPS) is strong enough to overcome any minor obstacles, however the practicalities of consolidating the investment side would be “difficult if not impossible”, according to a former manager of two LGPS schemes.
-
News
Northern Rock creates separate pension plan for future accrual
[17:00 CET 11-01] UK – Northern Rock is launching a new pension plan for existing active members which offers the same benefits and terms as an existing £367.5m (€408.6m) defined benefit pension plan but then leaves past liabilities with the division known as the ‘bad bank’.
-
News
Experts warn of cracks in pension NEST egg
UK – The new national workplace pension scheme that will begin operating early next year has been rebranded as the National Employment Savings Trust (NEST). However, pensions experts say they are still concerned about the impact of means-testing and the delay of full implementation until 2017.
-
News
UK government 'acting too slowly' on LGPS
[16:00 CET 07-01] UK – The department for communities and local government (CLG) has issued an informal consultation on draft amendments to clarify the Local Government Pension Scheme (LGPS) regulations. However there are concerns the government is not acting quickly enough to address the sustainability of the scheme.
