Latest on Regulation & Reform – Page 424
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Trustees 'lack objectivity' in judging sponsors
[16:00 CET 13-11] UK – Too few trustees doubt their company's ability to continue sponsoring the pension scheme, consultancy firm Hewitt has suggested.
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Pension funds caught up in insurance competition row
[16:40 CET 12-11] NETHERLANDS - The Dutch Association of Insurers (VvV) is urging Social Affairs’ minister Piet Hein Donner not to allow pension funds to sell income protection schemes as a disability insurance pension, because it would give them an unfair competitive advantage.
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Experts criticise social tax exemption
[16:15 CET 12-11] GERMANY – Finance experts fear there could be negative effects from a move by the German government to ensure money transferred to pension funds, as part of a person's salary, will remain exempt from social tax indefinitely.
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Consumer body 'disappointed' with Dutch funds
[16:15 CEST 12-11] NETHERLANDS – Only one in five pension funds so far has implemented the new uniform pension statement (UPO), despite earlier agreements, says Dutch consumer organisation Consumentenbond.
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Equal tax treatment for Hungarian IORP
[13:00 CET 12-11] HUNGARY – New Hungarian institutions for occupational retirement provision (IORP) will get the same tax treatment as existing voluntary pension funds and personal pensions, IPE has learnt.
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Belgium eyes promotion agency
[11:30 CET 12-11] BELGIUM – The Belgian Pension Funds Association (BVPI-ABIP) is working on establishing an agency to promote itself to multinationals abroad as a pension centre, IPE has learnt.
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Dutch regulator demands funds step up work
[16:45 CET 09-11] NETHERLANDS – The Dutch pension regulator and central bank DNB wants corporate pension funds to increase their efforts to secure durable pension systems, DNB director Arnold Schilder has said.
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Pension Corp demands Telent trustees' exit
[16:45 CET 09-11] UK - Pensions Insurance Corporation (PIC) has threatened to lapse its offer on telecoms group Telent, unless the regulator removes the independent trustees it appointed to Telent's £3bn (€4.3bn) pension fund last month.
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Irish bodies increase mandate needs
[16:30 CET 09-11] IRELAND – The Irish Pensions Board and National Treasury Management Agency (NTMA) have issued several mandates to assist with pension fund management, including a tender for a €600m emerging markets investment.
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Few schemes allow for longer longevity projections
[12:00 CET 09-11] UK – Less than 1% of UK pension fund sponsors leave room for wider mortality improvement factors to value future liabilities, says Barnett Waddingham.
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Pensionskassen growth stagnates - GDV
[11:00 CET 09-11] GERMANY – Germans remain cautious about investing money long-term despite good economic development, the association of German insurers (GDV) has found.
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NAPF calls for fresh Myners Review
[16:45 CET 08-11] UK - The National Association of Pension Funds (NAPF) has suggested there should now be a complete review of the pensions principles set up by former head of Gartmore fund managers, Paul Myners, in 2001.
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ECJ backs fresh claim on withholding tax
[16:40 CET 08-11] EUROPE – European pensions funds are now entitled to claim hundreds of millions of euros in tax from the Netherlands government, after the European Courts of Justice ruled against their application of withholding tax (WHT) on dividends.
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SER's inquiry right shift "damages shareholders"
[15:00 CET 08-11] NETHERLANDS – Proposals from the Social Economic Council (SER) to reform the right to instigate an inquiry will damage the position of minority shareholders, Eumedion, the platform for institutional investors, has claimed.
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Let funds decide on conversion rate – OECD
[11:00 CET 08-11] SWITZERLAND – The rate with which accrued pension assets are converted into benefit payments should not be decided by politicians, said the Organisation for Economic Co-Operation and Development (OECD).
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Free pension tracker to tackle info gap
[15:30 CET 07-11] IRELAND – A free pensions tracker service has been launched by an Irish financial adviser firm which is designed to track down information on individuals’ past pensions.
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Ukraine wants migrant pensions system
UKRAINE – The Ukrainian ministry of labour and social policy is calling for a EU-wide, paritarian pension system for Ukrainian migrant workers, IPE has learnt.
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PPM wants to 'wake up' DC members
[15:15 CET 06-11] SWEDEN – The Premium Pension Authority PPM is planning to send a reminder to 600,000 members of the compulsory defined contribution system who have not changed their fund selection since entering.
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CEIOPS changes direction on Solvency II (amended)
[16:45 CET 02-11] EUROPE – The widely-criticised Solvency II directive, an EU-initiated project aiming at creating a more risk-related solvency model, may not be adopted for pension funds after all, IPE has learnt (Including amended remarks in last paragraph).
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Ministers seek improved pension terms
[15:45 CET 02-11] UK/IRELAND – Government ministers' pensions have fallen under the spotlight, as MPs in both the UK and Irish Republic have sought improvements to their financial arrangements.
