Latest on Regulation & Reform – Page 399
-
News
Peers reject annuity rule suspension
[16:40 CET 29-10] UK – The UK government has rejected amendments to the Pensions Bill which would have allowed the temporary suspension of a requirement on pensioners to buy an annuity at age 75.
-
News
Finnish funds prepare for relaxed solvency rules
[17:10 CET 27-10] FINLAND – Tela, The Finnish Pension Alliance, said Finnish pension funds are preparing for the arrival of new proposals to relax solvency regulations, which should be implemented in the coming weeks.
-
News
Turkish pensions to see first of three new entrants
[16:55 CET 27-10] TURKEY - Ray Sigorta, a pensions joint venture from Vienna Insurance Group and Dogan Holding in Turkey, is planning to enter the local private pension funds sector by June 2009, while two others firms are understood to looking at entering too.
-
News
TPR predicts market impact on recovery plans
[16:05 CESt 24-10] UK – The Pensions Regulator (TPR) has confirmed the current economic difficulties could result in schemes submitting recovery plans for 2009 that include larger deficits, weaker employer covenants and longer recovery periods.
-
News
AEIP warns EC on tax incentives stance
[16:00 CEST 23-10] EUROPE – Jacques-André Schneider, a prominent member of the European Association of Paritarian Institutions of Social Protection (AEIP) Scientific Advisory Board, has cautioned the European Commission (EC) on its remarks concerning tax incentives for privately-managed pension provision in Europe.
-
NewsEC questions need for enhanced pensions framework
[16:45 CEST 21-10] EUROPE – The European Commission has suggested an improved legal framework may be required to improve pensions coverage and ensure individuals have adequate income at retirement.
-
News
No need for second pillar – IHS (updated)
[16:05 CEST 21-10] AUSTRIA – Increasing the real retirement age is enough to ensure people will still be able to live off the state pension in 60 years' time, according to Bernhard Felderer from the Austrian Institute for Advanced Studies (IHS).
-
News
LGPS investment regs need to be 'simplified'
[16:40 CEST 20-10] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) intends to recommend the government simplify and modernise the investment regulations for Local Government Pension Scheme (LGPS).
-
NewsOPA calls for better policing of MNT rules
16:15 CEST 20-10] UK – The Pensions Regulator (TPR) has been urged not to "turn a blind eye" over the enforcement of member-nominated trustee (MNT) requirements simply because it has no legal powers, the Occupational Pensioners' Alliance (OPA) has claimed.
-
News
German crisis act to cover Pensionsfonds
[17:10 CEST 17-10] GERMANY – The upper and lower houses of the German parliament today passed an act designed to stabilise the financial market but which will see also Pensionsfonds able to secure funding from the government.
-
NewsAP2 corporate governance targeted 115 AGMs
[17:00 CEST 17-10] SWEDEN - Andra AP-fonden (AP2), the Second Swedish National Pension Fund, has confirmed it exercised its voting rights at the annual general meeting (AGMs) of 115 companies in the year to June 2008.
-
NewsVera/Pevos acquittals are final
[16:45 CEST 17-10] SWITZERLAND – All seven defendants in the Vera/Pevos trial have been officially confirmed as free men, as the public prosecutor had withdrawn his appeal against their acquittal.
-
News
STAR urges indexation decision delay (amended)
[16:35 CEST 17-10] NETHERLANDS – Industry-wide pension fund ABP may postpone its decision on indexation as a result of turbulence in the financial markets, and the Labour Foundation (STAR) has called on pension fund boards to do the same.
-
News
Former minister calls for end of three-pillar system
[17:00 CEST 15-10] AUSTRIA – The head of the European Senior Organisation (ESO) Karl Blecha has demanded to scrap the three-pillar retirement system and go back to solely relying on the state as pension provider.
-
News
OPF seeks collective companies' funds
[15:40 CEST 15-10] NETHERLANDS - The Foundation of Company Pension Funds (OPF) has called for amendments to be made to the Pension Act to allow individual company pension schemes to work together in a companies’ pension fund.
-
News
Trustee knowledge update includes buyout focus
[17:00 CEST 14-10] UK – The Pensions Regulator (TPR) has updated the framework and guidance on Trustee Knowledge and Understanding (TKU) to include more focus on buyouts, personal accounts and administration.
-
News
Firm fined €5,000 after failing PRSA rules
[16:50 CEST 14-10] IRELAND – The Pensions Board has successfully prosecuted an employer through the Dublin District Court for failing to meet its obligations in relation to Personal Retirement Savings Accounts (PRSA).
-
News
Governance requirements could be more 'proportionate'
[17:00 CEST 13-10] UK - The UK's governance requirements for trust-based schemes are very high in relation to scheme size, leading industry experts to calls for the possible introduction of more 'proportionate' regulation.
-
News
HFC 'confident' about Dutch VAT exemption
[17:00 CEST 10-10] NETHERLANDS – Akkie Lansberg, the managing director of the Dutch Holland Financial Centre (HFC), said today she is “confident” the value-added tax (VAT) on asset management services sought by pension funds will be abolished in the near future.
-
News
Dutch 'API lite' extended to cover some DB (amended)
[13:50 CEST 10-10] NETHERLANDS – The new premium pension institution (PPI), which is being created by the Dutch government as part of a new international vehicle to tap IORP guidelines, is being extended to cover all contribution-based scheme and may be applicable to some overseas defined benefit (DB) arrangements.
