Latest on Regulation & Reform – Page 412
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Entity change subject to DNB approval - Donner
NETHERLANDS - The transition of a pension fund foundation into another entity will become subject to approval of the pensions regulator DNB, social affairs’ minister Piet Hein Donner has confirmed.
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DNB changes reporting rules
[15:30 CET 13-03] NETHERLANDS – The Dutch central bank, DNB today has said it will change the financial reporting standards for institutional investors, such as asset managers and pension funds from next year.
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UK to allow lower pensions commutation
[14:30 CET 13-03] UK – The UK government has announced some "easements" of the rules around trivial commutation to allow occupational pension scheme savings below £2,000 (€2,614) to be taken it a lump sum even if they have another larger pension fund elsewhere.
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Swiss AHV returns just remain positive
[16:30 CET 12-03] SWITZERLAND – The Swiss first pillar fund AHV saw its return fall to 0.4% last year compared to 6.8% in 2006.
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DC landscape 'confusing' and contradictory - Fidelity
[15:15 CET 12-03] UK – The provision of defined contribution (DC) pensions is 'confusing' as decisions are made by 'rule of thumb' or 'received wisdom' leading to contradictions, Fidelity has claimed.
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Show evidence of active management benefits - Myners
[14:00 CET 11-03] UK – Paul Myners, chairman of the Personal Accounts Delivery Authority, has hit back at criticism of the body’s low-cost accounts regime, and warned officials are unlikely to sway from adopting passive investment strategies.
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Slovakia makes opting-out easier
SLOVAKIA – People who want to opt out of the Slovak second pension pillar no longer need to have their signatures on the leaving contracts notarised.
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Employers seek pensions system review
[16:55 CET 10-03] NETHERLANDS - Dutch employers say a thorough deregulation of the pension system, including the present arrangements for indexation, is required to counter increasing risks and costs for companies.
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One-fifth of pensioners could lose 80% of benefits - PPI
[16:30 CET 10-03] UK – The Pensions Policy Institute (PPI) has called on the UK government to provide more clarity on its goal of improving incentives to save for retirement, as research showed personal accounts could cause 20% of pensioners to lose 80% of means-tested pension benefits.
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Trustees need help with wind-up deadline
[14:50 CET 10-03] UK – A joint consultation statement on the winding-up of pension schemes has been criticised by Hymans Robertson for failing to explain how trustees are expected to complete the process within two years.
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Philips fund ups real estate sale as experts mull liability
[15:30 CET 10-03] NETHERLANDS – The €14.6bn Dutch pension fund of electronics giant Philips has further dismantled its real estate portfolio, a process initiated following an investigation started into the alleged realty fraud within the fund.
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FeaturesEU warning over tax discrimination
Germany and Estonia received formal notices from the European Commission requesting information concerning different tax treatment of foreign pension funds on dividends and interest.
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Special ReportIntroducing a new framework
Thierry Verkest explains the recent legislative and regulatory changes that have transformed Belgium’s pensions landscape, and outlines some of the continuing debates
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Special ReportLearning to live with volatility
As pension funds adapt to a new regulatory structure and deal with market instability, asset managers are having to assess how funds may respond, writes Rachel Fixsen
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VB behind API if schemes remain mandatory
[16:30 CET 07-03] NETHERLANDS - The Association of Industry-wide Pensions Funds (VB) supports the new general pensions vehicle API, if the position of mandatory industry-wide schemes remains fully intact.
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NewsPension boycott of Aegon over Optas (Update)
[15:00 CET 07-03] NETHERLANDS – FNV Bondgenoten, the largest Dutch union, is refusing to place any new deals with insurer Aegon, as it believes it has shown a “very unreliable” attitude in the Optas case.
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NewsOECD to issue SWF governance guidelines
[14:30 CET 07-03]GLOBAL – The Organisation for Economic Co-operation and Development (OECD) plans to publish a paper in the next few weeks, outlining corporate governance guidelines which can be applied to Sovereign Wealth Funds (SWFs).
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IMF warns against first pillar opt-out
[14:00 CET 06-03] CZECH REPUBLIC - Allowing people to opt out of the pay-as-you-go state pension pillar might end in consumption decline in the long run, the International Monetary Fund (IMF) has warned.
