Latest on Regulation & Reform – Page 386
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DNB still insists on April date for recovery plans
[17:05 CET 27-03] NETHERLANDS - Pensions regulator De Nederlandsche Bank (DNB) insists on pension funds submitting their recovery plans before 1 April, despite easing the rules on recovery.
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Royal Mail trustees 'agnostic' about part-privatisation
[16:50 CET 27-03] UK – Trustees of the Royal Mail Pension Scheme have written to all 450,000 members to confirm it “has no position” on government plans for the part-privatisation of Royal Mail.
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ONS to monitor signs of DC 'levelling down'
[15:00 CET 27-03] UK – The Office of National Statistics (ONS) intends to monitor changes in the average level of employee and employer contribution rates to contracted-in defined contribution (DC) schemes to see if there are signs of “levelling down” ahead of 2012.
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PPM sees info as priority for new Swedish authority
[16:50 CET 26-03] SWEDEN – The development of a new pension authority to cover both the state pension and the Premium Pension savings will be a “golden opportunity to increase knowledge and interest on pensions”, the Premium Pension Authority (PPM) has claimed.
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ICTU calls off pension strike to enter talks
[16:40 CET 26-03] IRELAND – The Irish Congress of Trade Unions (ICTU) has called off next week's planned one-day national strike over pensions, and is returning to talks with the government over the development of an "integrated national response".
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Norway targets ageing via an active workforce
[16:30 CET 26-03] NORWAY – Increasing labour market participation and extending working lives is a “key response” to the challenges of an ageing population that could see the number of people over the age of 67 double over the next 50 years.
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Donner allows three-year leeway on pension cuts
[16:45 CET 26-03] NETHERLANDS - Pension funds working on short-term recovery plans are not required to cut benefits during the next three years, according to Social Affairs’ minister Piet Hein Donner.
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Dutch schemes lost 17% in 2008 - DNB
[15:30 CET 26-03] NETHERLANDS - Dutch pension funds lost an average of 17% on investments in 2008, according to pensions regulator De Nederlandsche Bank.
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Unions ponder 'next steps' over Waterford pension
[17:00 CET 25-03] IRELAND – Trade unions are considering their next steps against the Irish government over the fate of Waterford Crystal pension fund, but may still pursue legal action concerning the enactment of EU pension rules.
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IAPF warns gov't against pension tax cuts
[16”50 CET 25-03] IRELAND – The Irish Association of Pension Funds (IAPF) has warned the government against cutting tax relief on pensions to provide short-term financing, in a pre-emptory move ahead of the Irish supplementary budget in April.
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Swiss parliament rejects tougher investment rules
[16:45 CET 25-03] SWITZERLAND – The smaller chamber of the Swiss parliament has rejected a motion by the Social Democrats to ban certain types of investments, such as hedge funds, within pensionskassen.
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Netherlands to raise state retirement age
[16:40 CET 25-03] NETHERLANDS - The Dutch government has said it will raise the official retirement age from 65 to 67, unless social partners can come up with acceptable alternatives.
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Pension funds challenge powers of M&S chairman
[17:00 CET 24-03] UK - UK pension funds have raised concerns once again over the level of power and influence of Sir Stuart Rose, the executive chairman and chief executive of Marks & Spencer’s (M&S).
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DNB sticks firm to yield curve for liabilities
[17:20 CET 23-03] NETHERLANDS - Pensions regulator DNB is sticking to its earlier position stating it will not consider an instrument change for calculating liabilities, despite continued calls from the industry.
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New group to reveal int'l pension opportunities
[16:50 CET 23-03] EUROPE - Europe’s first international pension education group will hold its first course on 25 May and is looking for the backing of more national pension associations.
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DNB’s own pension fund must submit recovery plan
[16:00 CET 23-03] NETHERLANDS - The financial buffers of the Dutch financial regulator’s own pension fund have dropped below the minimum level set by the regulator.
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VFPK renews pensions tax demands
[16:30 CET 23-03] GERMANY – The Association of company pension schemes in Germany, VFPK, wants to see more tax incentives encouraging employees to contribute to retirement plans.
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Icelandic pension funds under investigation
[17:20 CET 20-03] ICELAND – Iceland's special prosecutor is investigating five pension funds over claims they exceeded the investment limits laid down by law.
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Individual trustees at more risk of legal action
[17:10 CET 19-03] UK – A recent legal judgement could mean individual trustees are more at risk of legal action from scheme members than corporate trustees, Wragge & Co has warned.
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PPF consults on solution to s161 concerns
[17:10 CET 19-03] UK – The Pension Protection Fund (PPF) is consulting on a solution to address concerns regarding its powers to “disclaim” an investment contract when a scheme enters the PPF.
