Latest on Regulation & Reform – Page 435
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News
Pensions sector satisfied with supervisor covenant
NETHERLANDS - The Dutch pensions sector has revealed it is satisfied with the new covenant of cooperation between the two supervisors DNB and AFM.
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Slovakian opting-out plans criticised
SLOVAKIA - Government plans to allow people to withdraw their savings from the mandatory second pillar pension system could destabilise the system and spark higher inflation, the industry has warned.
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Irish pension accounts rise by 37%
IRELAND – There was a 37% increase in the number of people opening Personal Retirement Savings Accounts (PRSAs) in 2006, according to new data from Irish pensions regulator, the Pensions Board.
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Austrian civil servants to get Pensionskasse
AUSTRIA – The government has endorsed a proposal by the court of auditors to set up a Pensionskasse for up to 100,000 federal civil servants.
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Features
Recovering from chaos
The Balkan states have long been considered as being at the end of Europe but Branko Zeleznik sees the beginning of a turnaround
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Features
King coal bows out of the industry
David Morgan is retiring as CEO of Coal Pension Trustees – the executive arm of the trustees of the £26bn (€38bn) pension schemes of the former British Coal – at the end of July after nine years. George Coats asked him about his career
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Judgement day nears for TFR
The coming weeks will see whether the Italian government’s attempt to resuscitate Italy’s flagging pension system has been a success or failure, writes George Coats
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SIFs’ challenge to German ‘Spezials’
Luxembourg’s new and flexible specialised investment funds are threatening to take business away from German Spezialfonds. Nina Röhrbein reports
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An inequitable situation
The UK Equitable Life scandal shows the need for consumer confidence in financial services, writes Jeremy Woolfe
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Features
Smoothing comes under scrutiny
If the International Accounting Standards Board was looking for praise of its decision to tackle pensions accounting, it found it among members of its recently formed pensions working group at its inaugural 5 June meeting. Although a minority warned the board against creating an era of constant upheaval in pensions ...
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Open funds open wider
Reform of open pension funds is liberalising the domestic market. Maria Teresa Cometto spoke with Intesa Previdenza, the largest such fund in Italy
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TFR use for pensions "disappointing" - Candylaftis
[17:00 CEST 29-06] ITALY – Only a small number of Italians have chosen to put their severance pay TFR into pension funds but the pension industry will grow, asset manager Francis Candylaftis is convinced.
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EC takes Germany to court over pensions competition
[17:03 CEST 28-06] GERMANY – The European Commission is taking Germany to court over the failure of its local governments to award contracts for deferred compensation plans in a manner consistent with EU competition law.
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Parent group contract reveals anti-avoidance - TPR
[17:01 CEST 28-06] UK – A US-based transportation company is being hit with the UK’s first financial support direction (FSD) because it has an agreement in place to support its UK subsidiary’s pension, The Pensions Regulator has revealed.
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Aranykor gets new managing director
[17:01 CEST 28-06] HUNGARY – The HUF92bn (€372m) Aranykor Pension Fund has named Krisztina Kulyassa as new managing director.
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Plan members get say on policy
[11:00 CEST 28-06] NETHERLANDS - The Social and Economic Council (SER) is to ask ordinary Dutch workers for their views on pensions this autumn.
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Develop alternatives to DC, urges Bank president
NETHERLANDS - The president of supervisor De Nederlandsche Bank (DNB) has challenged the Dutch pensions sector to develop new alternatives to defined contribution (DC) plans.
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France half way to solving pension issue - OECD
FRANCE – Complex tax and overgenerous benefits for public transport workers are holding up pension reform, according to the OECD.
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Swiss and UK funds win tax refund
UK/SWITZERLAND – UK pension funds investing in Swiss companies will get their tax at source on dividends refunded under a new amendment to bilateral agreements signed today.
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Covip defends itself before Senate
ITALY – Pensions regulator, Covip, has told the parliament in Rome that it would be wrong and untimely to reform supervision of occupational retirement plans.
