Latest on Regulation & Reform – Page 415
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News
EU must not favour cross-border DC "at expense" of DB
[11:00 CET 12-02] EUROPE – EU member states need to avoid over-regulating and discouraging defined benefit (DB) schemes in favour of a cross-border defined contribution (DC) pensions system, Barnett Waddingham has warned.
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ATP seeks approval for "innovative" DC guarantee
[14:00 CET 11-02] DENMARK – ATP, Denmark’s largest pension fund, is hoping to gain approval from the Danish parliament next month to launch an “innovative” new defined contribution pension product which has a level of guaranteed return on contributions at no extra cost, but also generates higher potential investment returns.
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Editorial: Accounting reforms replace Solvency II woes
[16:30 CET 08-02] EDITORIAL: At a time when pension funds are already having to work hard to meet pensions liabilities, the arrival of new disclosure requirement “proposals” from the Accounting Standards Board could further increase the pressure on all European pension funds, and not just those based in the ...
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DNB steps up scrutiny on Philips real estate scandal
[15:00 CET 08-02] NETHERLANDS – DNB, the supervisor of the Dutch pension sector, said it is increasing its review of real estate transactions done by with Dutch pension funds, on the back of fraud uncovered at the Philips pension fund, as well as increased volatility on the international real estate ...
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EC unlikely to risk pensions closures with Solvency II
[13:00 CET 08-02] EUROPE – The European Commission has given its strongest indication yet Solvency II rules are unlikely to be applied to pension funds, as officials acknowledge heightened capital and asset allocation requirements on pensions funds could lead to the closure of defined benefit pension schemes.
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'No technical argument against Solvency II' - supervisor
[15:00 CET 07-02] AUSTRIA/EUROPE – The decision on whether or not to apply Solvency II requirements to pension funds will be a political one as there are “no technical arguments” against such a step, according to Harald Gössl of the Pensionskassen department at the Austrian financial supervisor FMA.
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Dutch property association launches anti fraud framework
[15:00 CET 06-02] NETHERLANDS – The Dutch Association of Institutional Property Investors (IVBN), is setting up a framework for risk management to prevent fraud in institutional real estate investment.
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Dutch schemes could save by commuting benefits - KPMG
[13:30 CET 06-02] NETHERLANDS - Dutch pension funds and insurers are missing out on considerable cost savings by choosing not to commute the pensions of deferred participants, the consultancy KPMG has claimed.
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Dutch VAT exemption 'may take years'
[16:30 CET 05-02] NETHERLANDS – Revelations suggesting the Dutch government could immediately abolish value-added tax (VAT) on asset management services sought by pension funds are simply not true, according to PricewaterhouseCoopers (PwC).
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"Portability not main aim of pension promise" - academic
[16:00 CET 05-02] EUROPE – The European Commission is “too much focused” on full portability of pension rights and has forgotten occupational pensions are a bonus which companies offer employees to stay with the firm, according to Austrian economics professor Ulrich Runggaldier.
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Pensions Board unveils support service providers
[12:30 CET 05-02] IRELAND - The Irish Pensions Board has unveiled two lists of 10 companies it will use in the future to provide actuarial consultancy as well as policy and economic research services.
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IOPS calls for greater supervision on alternatives
[14:30 CET 04-02] GLOBAL – The International Organisation of Pension Supervisors (IOPS) has released a set of good practices relating to the risk management of alternative investments by pension funds.
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Features
Trusted adviser retains a key role
While the Singapore government has recognised the need to make changes to the Central Provident Fund system, which is as old as Singapore itself, the current situation is felt to be only a partial solution. Carl Redondo reports
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Features
Hedge funds enter the mainstream - for good or ill
The New Year will see larger hedge funds and private equity businesses voluntarily submit themselves to increasing oversight, Paul Smith expects, with unfortunate consequences for smaller players
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Features
The changing face of Turkey
The heralding of Turkey as a new entrant to the global economy is the result of a misconception. Turkey has, in fact, been tied into the globalised economy for decades, if not centuries.
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Features
Polish appointment cheers industry
Agnieszka Chlon-Dominczak has been nominated as vice-minister in charge of pensions at the ministry of labour and social policy.
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Features
Raising the state pension
The Green Paper also covers the social welfare system."The government’s commitment to increase the social welfare pension from €223 per week to €300 per week means the first pillar state pension is set to rise to a good level for everyone," says chief executive of corporate business at Irish Life ...
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EU issues new warnings over tax discrimination
[15:45 CET 01-02] EUROPE – Germany and Estonia received formal notices from the commission of the European Union (EU) requesting information in different tax treatment of foreign pension funds when it comes to dividends and interest.
