Latest on Regulation & Reform – Page 369
-
News
EIOPA might end up with fewer powers – Bernardino
[16:15 CET 18-11] EUROPE – The proposed new supervisory authority replacing CEIOPS might not be as powerful as currently drafted, according to Gabriel Bernardino, the new chairman of CEIOPS.
-
News
Van Nunen brands Dutch regulation 'idiotic'
[13:00 CET 18-11] NETHERLANDS - Anton van Nunen, the creator of fiduciary management, has attacked Dutch pensions regulation for being a key element contributing to the losses suffered by pension fund over the last two years, and described the current system as “idiotic”.
-
NewsKnowledge rules drive growth of professional trustees
[13:00 CET 17-11] NETHERLANDS – An increasing focus on education and knowledge for trustees in the Netherlands is beginning to result in the growing use of professional trustees to take on the governance responsibility in smaller pension schemes.
-
NewsOPF warns indexation label launch is 'bad timing'
[16:30 CET 13-11] NETHERLANDS - The Foundation of Company Funds (OPF) has voiced serious concerns about social affairs’ minister Piet Hein Donner’s plan to introduce the pension indexation label next spring.
-
News
TPR sharpens education focus ahead of 2012
[13:30 CET 13-11] UK – Educating and enabling employers to comply with new duties will be the key focus for The Pensions Regulator (TPR) over the next two years, ahead of the introduction of auto-enrolment in 2012.
-
NewsAPG calls on EC to temporarily withdraw AIFM
[16:00 CET 12-11] EUROPE – APG has called on the European Commission to temporarily withdraw its proposals on the draft directive on Alternative Investment Fund Managers (AIFM) in light of the large number of expected amendments and to produce a "more balanced proposal by the summer".
-
News
Finnish railways pension follows outsourcing track
[15:30 CET 12-11] FINLAND – The VR Pension Fund, which covers the employees of the Finnish State Railways, has announced it will transfer its statutory pension liabilities to Varma, the €28.3bn mutual pension insurance company, by the end of year.
-
News
UK high court blocks attempt to undermine pensions lifeboat
[13:30 CET 12-11] UK – The UK high court has attacked a proposal by trustees of an underfunded scheme to buy out certain member benefits in full, ahead of entering the assessment period of the Pension Protection Fund (PPF), as a "blatant attempt" to undermine PPF legislation.
-
News
Progress' member council loses indexation case
[16:30 CET 11-11] NETHERLANDS - The participants’ council of Unilever’s Dutch pension fund, Progress, has lost a legal case against the scheme concerning indexation.
-
News
Italy's COVIP unveils changes for larger pension plans
[13:00 CET 11-11] ITALY - COVIP, the Italian pension funds regulator, says larger collective open plan pensions funds will in future have to deliver an integrated supervisory board structure.
-
News
Move to DC led by costs calculability – AllianzGI
[12:00 CET 11-11] EUROPE - Pensions analysts in key western European regions believe the move to defined contribution (DC) pension plans is largely being driven by the ability to better calculate costs, according to research.
-
News
Dutch workers warm to part-time retirement
[11:00 CET 11-11] NETHERLANDS - Nearly six out of 10 workers in The Netherlands would consider taking a part-time pension in the final years of their working life, according to a study commissioned by pension provider Aegon.
-
News
Irish rules on DB benefit cuts set 'too high'
[16:30 CET 10-11] IRELAND – The Pensions Board has been accused by the Irish Business and Employers Confederation (IBEC) of setting the bar “too high” for trustees and employers who are seeking to reduce accrued defined benefit (DB) entitlements to help stabilise scheme funding.
-
News
IBM trustees seek legal clarity on UK DB closure
[16:00 CET 10-11] UK – Trustees of IBM's £4.36bn (€4.87bn) UK defined benefit (DB) pension schemes have told members they plan to seek legal approval for the proposed changes to the schemes before they amend the trust deed and rules.
-
News
NAPF calls for working group to assist DWP regs
[17:00 CET 09-11] UK – The National Association of Pension Funds (NAPF) has initiated calls for a new joint working group, to consider the implementation issues around the second batch of regulations relating to the UK's 2012 pension reforms.
-
News
Slow IORP growth highlights cross-border complexity
[16:30 CET 09-11] EUROPE – The development of cross-border pension plans is making slow progress and the number of IORP vehicles set up has increased, according the latest report by the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
-
News
State Street ups fund to fight investor claims
[14:00 CET 09-11] GLOBAL – State Street has increased the battle fund it set aside in November 2007 to cover potential legal claims regarding its fixed income investment strategies, which were alleged to have exposed institutional investors to sub-prime mortgages.
-
News
Pension bodies dismiss cover ratio benefit from AOW rise
[16:35 CET 06-11] NETHERLANDS - Pension fund bodies have warned the Dutch government that raising the age of the AOW state-led retirement system will not automatically lead to a recovery of pension funds’ cover ratios or speed up indexation.
-
News
IMF urges Ukraine to backtrack on pensions policy
UKRAINE – The International Monetary Fund has urged Ukraine to return to earlier commitments for wage and pension increases, as it argued the new social standards law passed by the parliament last month could cost up to 7% of GDP in 2010.
-
News
Poland plans cut to role of pension funds
POLAND – The Polish social insurance body ZUS may be granted the right, from next summer, to manage the money that pension fund companies have to invest in government bonds.
