Latest on Regulation & Reform – Page 371
-
News
EC aims to pursue withholding tax parity
[15:30 CEST 20-10] EUROPE – The European Commission is attempting to push through yet more reforms to local withholding tax regimes by recommending a simplified system be introduced for investors claiming the tax relief.
-
News
Pension experts tout need for longer-term benchmarks
[17:00 CEST 19-10] GLOBAL – A joint meeting of the OECD and IOPS Global Forum on Private Pensions has been warned a “meaningful” long-term performance measure for pension funds must be found which assess pension funds’ ability to meet income replacement.
-
News
USS attacks PPF levy focus on investment strategy
[14:30 CEST 19-10] UK – The chief executive of the Universities Superannuation Scheme (USS) has labelled the Pension Protection Fund’s (PPF) proposal to consider the investment strategy of schemes when calculating the levy as “inappropriate”.
-
News
Savings products review may be key to flexible retirement - Cooper
[17:10 CEST 16-10] UK - Yvette Cooper, secretary of state for work and pensions, has hinted there may need to be a review of financial products within the saving industry to enable individuals to have a more flexible retirement by working longer or part-time if required.
-
News
Dutch MPs reach a deal to raise retirement age to 67
[16:55 CEST 16-10] NETHERLANDS - The Dutch coalition political parties have agreed to raise to official retirement age for the state pension AOW in two steps from 65 to 67 in 2025.
-
News
Ageing population costs to 'dwarf' recent crisis - EC
[16:55 CEST 15-10] EUROPE – European Commission officials have produced a report which claims the ability to meet public pensions liabilities is a higher long-term risk for governments than ever before and in most cases reform of member states’ pensions systems is desperately needed.
-
News
Iceland prepares to free capital restraints
[16:40 CEST 14-10] ICELAND - Iceland has been preparing for the liberalisation from its capital controls, which will eventually conclude with the lifting of currency restrictions.
-
News
AP6 gets caught in anti-competitiveness row
[12:00 CEST 13-10] SWEDEN – A row has erupted between two Swedish bicycle firms, including one wholly-owned by Sjätte AP-fonden (AP6), the sixth Swedish national pension fund, over allegations of anti-competitive behaviour.
-
News
Germany's BDA wants risk-based pensions levy
[16:40 CEST 13-10] GERMANY – Switching to a risk-based levy for the German pension insolvency lifeboat Pensionssicherungsverein could help to considerably reduce contributions to the scheme in the long-run, according to Alexander Gunkel from the German federation of employer representatives.
-
News
Corridor, smoothing would assist pensions risk - EDHEC
[16:15 CEST 08-10] GLOBAL – Companies and pension funds must be allowed to continue to use the ‘corridor approach’ when assessing a sponsor’s pension fund liabilities under IAS19 as any move otherwise would encourage schemes to shed risky assets, according to research by the French business school EDHEC.
-
News
Kenny targets 'unacceptable' directors with MoU
[15:30 CEST 08-10] IRELAND – Paul Kenny, the Pensions Ombudsman has signed a Memorandum of Understanding with the Office of the Director of Corporate Enforcement (ODCE) to allow him to pass on details of “unacceptable behaviour by company directors” - a move bringing closer cooperation against rogue employers.
-
NewsUK 2012 regulations may restrict employer innovation
[17:15 CEST 07-10] UK – Employers want a wider range of pension and savings products that meet the changing priorities and immediate needs of their employees, but the upcoming 2012 regulations may be restricting innovation, according to research from BlackRock.
-
News
TPR appoints Deloitte for review of UK's DC regulations
[16:47 CEST 07-10] UK – The Pensions Regulator (TPR) has appointed Deloitte to conduct a review of the existing defined contribution (DC) regulatory framework and make recommendations for a new "robust" framework ahead of the 2012 reforms.
-
NewsCall for Dutch self-employed to stay in pension funds
[17:20 CEST 06-10] NETHERLANDS - Self-employed individuals should be given the legal right to temporarily stay in the pension fund of their former employer so they may save for a pension, a Dutch academic expert has suggested.
-
NewsUK Conservatives plan to speed up pension age increase
[17:15 CEST 06-10] UK – The Conservative Party has confirmed it will reinstate the earnings link for the basic state pension in the next Parliament if they are elected, but warned it would be funded by a faster increase in the state pension age (SPA).
-
NewsNBIM wants more accountability from UK directors
[16:55 CEST 02-10] NORWAY/UK – Norges Bank Investment Management (NBIM), responsible for managing the assets of the NOK2.5trn (€290bn) Government Pension Fund – Global, has supported recommendations from the Walker Review for increased accountability but officials say they want it to go further.
-
News
Norway targets US firms over combined CEO role
[16:50 CEST 02-10] NORWAY – Norges Bank Investment Management (NBIM) has for the first time submitted shareholder proposals to four US companies requiring them to have an independent chairman.
-
News
Eureko secures exit from Polish PZU row
POLAND – Eureko, the Netherlands-headquartered insurance group, has finally secured a financial settlement and exit strategy from its ownership of PZU following a long-running dispute with the Polish government.
-
News
DWP to allow non-UK schemes for auto-enrolment
[17:00 CEST 01-10] UK – The government has confirmed non-UK pension schemes can be used for auto-enrolment purposes from 2012, although it stressed it would amend regulations to exclude non-European Economic Area (EEA) schemes if there are suggestions of an unacceptable risk to member benefits.
-
News
UK employers may avoid certifying 'borderline' DC
[16:40 CEST 01-10] UK – Employers operating defined contribution (DC) schemes on the "borderline" of meeting the quality requirements for the 2012 reforms may be less likely to use self-certification because of cost issues, Hymans Robertson has suggested.
