Latest on Regulation & Reform – Page 424
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DWP starts own IORP review
[16:40 CEST 22-10] UK – The Department for Work and Pensions (DWP) has issued a consultation paper to find out how successful occupational pension schemes have been in implementing the European pension fund directive IORP.
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T-Charter labelled as 'too weak'
[15:00 CEST 22-10] GLOBAL – Standards set by the newly-launched charter for best practice in transition management should be raised, State Street, Barclays Global Investors (BGI) and Russell Investments have demanded.
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New NHS fund gives equal deal to Scots
[15:00 CEST 19-10] UK – Scottish cabinet ministers yesterday announced health care workers in Scotland have earned the same pensions deal as colleagues in England and Wales.
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Not all wealth fund investment welcome - Barroso
[16:00 CEST 19-10] EUROPE – EU member states should take a common approach to protect the union from investments out of line with standards set by the European Union, said José Manuel Barroso, president of the European Commission.
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Swiss get incentives to work longer
[13:00 CEST 19-10] SWITZERLAND – Employees who work beyond the statutory retirement age can continue to pay into their third pillar pension provision for five years, the government has decreed.
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ÖPAG reveals cross-border destinations
[13:00 CEST 19-10] AUSTRIA – The €1.9bn multi-employer Pensionskasse ÖPAG is in negotiations with Germany and Slovenia to set up second-pillar pension operations.
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Consultants’ study wants Irish annuity rules eased
[17:10 CEST 18-10] IRELAND – The government should reconsider the obligation for defined contribution occupational scheme members to buy annuities at retirement, a study on the Irish annuity market recommends.
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Options galore in Irish pensions green paper
[16:50 CEST 17-10] IRELAND – The government today presented the long-awaited green paper on pensions including issues like scheme funding, retirement age and work flexibility – but giving no recommendations.
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UK consumers get say in personal accounts
[16:50 CEST 17-10] UK – Various consumer groups have been invited by the Department for Work and Pensions (DWP) to join a committee to work with the Personal Accounts Delivery Authority (PADA).
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Dutch supervisor appoints new pensions director
[13:30 CEST 17-10] NETHERLANDS – The Dutch central bank and pension supervisor, DNB, has appointed Joanne Kellermann as its new director.
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ECJ rejects retirement age discrimination claim
[14:40 CEST 16-10] SPAIN – The European Court of Justice (ECJ) today has rejected Félix Palacios de la Villa’s age discrimination claim against his employer, clothing company Cortefiel Servicios SA.
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Swedish supervisor to review small funds’ risk management
[13:30 CEST 16-10] SWEDEN – Supervisory body Finansinspektionen (FI) said it will check whether risk management matches the investment strategy at smaller pension funds.
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Two Dutch schemes to move to Mercer pan-European vehicle
[15:00 CEST 15-10] EUROPE - Two multinational companies are considering moving their Dutch pension activities into a pan-European pension scheme based in Ireland, claims Mercer.
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Italy gains pension reforms approval
[16: 45 CEST 12-10] ITALY - The Italian government has announced it will insert a welfare package, which includes pensions reforms, into the 2008 budget measures.
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Rümmeli knew of Swissfirst merger
[16:45 CEST 11-10] SWITZERLAND – A confidentiality agreement has surfaced suggesting Roland Rümmeli, former investment head of the Siemens Switzerland pension fund, had insider knowledge of a merger between Swissfirst and Bellevue.
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Romanian 2nd pillar gains new provider
ROMANIA – Bucharest-based Bancpost bank has launched a new division called its Bancpost Fond De Pensii, targeting Romania's new mandatory second pillar market.
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Too early for mandatory second pillar - ÖPAG
[16:00 CEST 11-10] AUSTRIA – Introducing mandatory second pillar pensions in Austria is 'unrealistic' at present, according to Johannes Ziegelbecker, director at the €1.9bn multi-employer Pensionskasse ÖPAG.
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Hermes brands German law 'counterproductive'
[17:00 CEST 09-10] GERMANY – Hermes, the BT pension fund-owned asset manager, has warned planned German legislation to curb co-operation between investors could weaken corporate governance standards.
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EC amends mobile pensions rights directive
[16:40 CEST 09-10] EUROPE – The European Commission has adopted an amended proposal to reduce obstacles to workers' mobility across the European Union, which gives them better preservation of supplementary pension rights.
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Irish pensions eye 'Netherlands-style' schemes
[14:15 CEST 09-10] IRELAND – The Irish Association of Pensions Funds (IAPF) is calling on the government to encourage a growth of industry-wide pension arrangements similar to that seen in the Netherlands.
