Latest on Regulation & Reform – Page 411
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NewsPolish payout system in sight
POLAND – The Polish ministry of labour and social policy has submitted two bills to establish a payout system for Polish private sector pensions to the government for approval.
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LV 1871 Pensionsfonds signs €29m
[12:30 CEST 29-04] LIECHTENSTEIN/ GERMANY – The Liechtenstein-registered Pensionsfonds by German insurer LV 1871 attracted €29m in its first year of existence.
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Consultants warn against DC over-regulation
[12:00 CEST 28-04] UK – Consultants have warned against over-regulation of defined contribution (DC) schemes, following criticism of The Pensions Regulator's (TPR) existing approach by the House of Commons Public Accounts Committee.
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Gov't rejects plans to force ESG on PADA
[15:00 CEST 25-04] UK – The UK government has rejected amendments forcing the Personal Accounts Delivery Authority (PADA) to take account of the UN Principles for Responsible Investment (UN PRI), because personal accounts should not "set an example" for other schemes.
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Czech should consider 'mandatory' DC switch - OECD
[13:00 CEST 25-04] CZECH REPUBLIC – A mandatory switch to a defined contribution (DC) system, to phase out the existing 'full' pay-as-you-go (PAYG) pension system should be an option for Czech pension reform, claimed the Organisation for Economic Cooperation and Development (OECD).
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Improving DC governance is key TPR target
[12:30 CEST 25-04] UK – Improved governance standards in defined contribution (DC) schemes and the design and development of its role in personal accounts are two of the key challenges The Pensions Regulator (TPR) will face over the next three years.
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Lucent pension fund gets name change
[11:00 CEST 25-04] NETHERLANDS – The €547m Dutch pension fund of telecommunication systems manufacturer Lucent Technologies has changed its name following a merger with its sister pension fund Alcatel, IPE has learnt.
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TPR's buyout powers will be 'constrained'
[15:00 CEST 23-04] UK – The Pension Regulator's extended anti-avoidance powers will be "constrained" by accompanying guidance, Mike O'Brien the minister for pensions reform has confirmed.
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IASB may scale back pensions accounting project
[12:30 CEST 23-04] GLOBAL - The future of the International Accounting Standards Boards' due process discussion document on pensions accounting is in doubt, following public comments by IASB research director Wayne Upton.
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Incentives and health determine later retirement
[11:30 CEST 23-04] NETHERLANDS - Financial incentives and individuals’ health determine whether workers want to carry on working when approaching retirement, researchers have found.
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Unions want clear say in pension vehicle API
[11:45 CEST 22-04] NETHERLANDS - Industry-wide pension fund schemes are unlikely to implement the new general pension vehicle API anytime soon, according to CNV union because social partners do not want to lose their say in the running.
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IBEC calls for 'radical' public pension reforms
[12:00 CEST 18-04] IRELAND – The Irish Business and Employers Confederation (IBEC) has called on the government to implement more radical reforms in public sector pensions, including a cap on contributions.
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Sweden to relax alternatives regulation
[16:40 CEST 17-04] SWEDEN - The SEK225bn (€24bn) AP3 fund, one of the Swedish buffer funds, is in talks with the Swedish government about the relaxation of alternatives investment rules.
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Donner pushed ahead with 'unclear' indexation label
[16:20 CEST 16-04] NETHERLANDS - Social Affairs’ minister Piet Hein Donner has decided to go ahead with the present design of the indexation label, despite broad criticism from the pension funds about its clarity.
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Financial regulation must be overhauled, says OECD
[16:45 CEST 15-04] GLOBAL – Financial markets will take approximately 12-18 months to recover and require “fundamental reform” along with their regulation as a result of the new financial framework created by the credit crunch, according to the OECD.
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Proposed ASB rules to widen pensions valuations
[12:20 CEST 15-04] UK – Proposed changes by the Accounting Standards Board to pension fund accounting create a discrepancy between the economic valuation of FTSE 100 schemes and those applied under accounting rules worth over £145bn (€181bn), according to figures presented by pensions consultancy firm Redington Partners.
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NewsDWP finalises CETV regs
[16:15 CEST 14-04] UK – The Department or Work and Pensions (DWP) has published the final regulations relating to the calculation of cash equivalent transfer values (CETVs).
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News'Too early' for FTK evaluation, says DNB
[16:00 CEST 14-04] NETHERLANDS – Joanne Kellerman, the new director at the Dutch central bank (DNB), has today argued it is too early to evaluate the FTK assessment framework.
