Latest on Regulation & Reform – Page 385
-
News
PADA mulls target date approach as default
[17:05 CET 16-03] UK – The use of target date funds as the default for the personal accounts system is a “serious proposition” to be put forward in an investment consultation from the Personal Accounts Delivery Authority (PADA) later this year.
-
News
Actuaries claim raising AOW age is unnecessary
[17:00 CET 16-03] NETHERLANDS - A gradual rise in the official Dutch retirement age from 65 to 67 is not necessary and undesired, the Actuarial Society (AG) has suggested, as transitional rules for the creation of additional savings schemes will make pensions much more complex, expensive and time-consuming.
-
News
Pension funds consider valuation date shift
[16:45 CET 16-03] UK – Pension funds might be able to improve their pension funding valuations by a fraction if they shift the exact date on they assess all of their assets each year away from popular target dates in December and March.
-
News
Mark-to-market pricing 'needs addressing'
[16:20 CET 13-03] UK – Mark-to-market accounting is “not helping” pension funds and the issue needs to be addressed, delegates at the National Association of Pension Funds (NAPF) investment conference were told.
-
News
Call for rescue fund in the Netherlands
[16:00 CET 13-03] NETHERLANDS – A Dutch lobbying organisation for the elderly has called for a rescue fund to be set up which will allow struggling pension funds to keep their benefits at their present level.
-
News
FSA attacks investors for not doing enough
[17:00 CET 12-03] UK - Institutional investors have a "major role" to play in addressing issues arising from the current financial crisis, as they share responsibility for the actions of companies and the resulting consequences, the UK's financial regulator has warned.
-
News
Fico set to change pension fund fee structure
SLOVAKIA – Slovakian prime minister Robert Fico has presented parliament with a bill to change the fee structure for pension fund management companies and base it more on positive performance.
-
News
Actuaries challenge PPF levy methodology
[15:15 CET 12-03] UK - Actuaries and consultants firm Barnet Waddingham has called on the Pension Protection Fund (PPF) to change its levy calculations to reflect defined benefit schemes paying cash benefits to its members.
-
News
Danish tax reforms ‘make early retirement attractive’
[16:50 CET 11-03] DANISH - The government wants the elderly to stay longer in their jobs before retiring but pensions experts say proposed tax reforms could have the opposite effect and force individuals to retire early.
-
News
Consultant expects little from pension reform talk
[15:50 CET 11-03] AUSTRIA – Kurt Bednar, occupational pension expert with international consultancy Funk, is sceptical about the recently implemented reform commission for Austria’s pensionskassen system and claims discussions are unlikely to come to any useful conclusion.
-
News
MP's call to curb banker's pensions
[17:15 CET 10-03] UK – A Bill designed to limit the pension provision of board members of banks wholly or partly owned by the state is being introduced to Parliament today.
-
News
ASIP supports cut to conversion rate
[17:05 CET 10-03] SWITZERLAND – The Swiss pension fund association ASIP has waded into the debate on lowering the conversion rate in the second pillar and told unions their demands would lead to a collapse of the system.
-
News
Irish not in position to offer PPF
[17:15 CET 09-03] IRELAND – The Irish government has admitted it is “not in a position” to offer occupational defined benefit (DB) the protection of a state guarantee from a pension protection fund.
-
News
Teachers to take action over Irish levy
[7:10 CEt 09-03] IRELAND – Members of three teachers unions have voted in favour of industrial action, including strikes, over the government's handling of the economic crisis including the introduction of the "pension levy".
-
News
E-based personal accounts need member education
[17:00 CET 09-03] UK – The pensions and investment industry has warned a 'self-service' e-approach to personal account members investment decisions risks "underestimating" the challenges involved in educating consumers.
-
News
Crisis forces pensions measures back to gilts
[16:55 CET 09-03] UK – Hewitt Associates has conducted a study of 50 pension fund clients which suggests all will in future base their defined benefit funding assumptions on a gilts-based measure, even though it could increase liabilities by up to 30%.
-
News
EC admits 'pensions are not immune to crisis'
[16:25 CET 09-03] EUROPE – European pension funds have not suffered during the ongoing economic crisis in the same way as other financial institutions, according to the European Commission, but defined benefit schemes in particular are likely to see “challenges” as they struggle to pull back their funding balances.
-
News
Pensions ombudsman to highlight possible tax offences
[17:00 CET 06-03] IRELAND – The Pensions Ombudsman has stated information relating to possible tax offences uncovered through its own inquiries will be passed to the Irish Revenue Commissioners under a new memorandum of understanding.
-
News
2012 contributions may be less than expected
[16:55 CET 06-03] UK – Watson Wyatt has warned workers auto-enrolled into occupational schemes after 2012 could have an “exaggerated impression” of the size of their pension as typical minimum contribution rates into qualifying pension schemes will never be more than 6.8% of gross earnings.
-
News
Committee to screen schemes’ investment policy - Donner
[16:00 CET 06-03] NETHERLANDS - Social affairs minister Piet Hein Donner will establish an independent committee to find out whether the investment policy of pension funds has landed them in their precarious financial position following the credit crisis.
