Latest on Regulation & Reform – Page 442
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DNB warns funds about going to Belgium
NETHERLANDS – The Dutch central bank has warned pension funds about moving to neighbouring Belgium, saying they could be faced with disappointing results.
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Link manager pay to data skills – study
GLOBAL – A new academic study has suggested that investment managers’ pay should be tied to their skills in using information.
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Norwegian state fund to raise equity exposure
NORWAY – Changes to the investment rules of the Norwegian Government Pension Fund announced today will see the fund’s equity exposure rise from 40% to 60%.
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Horeca’s new admin system still not functional
NETHERLANDS – PH&C, the €2bn pension fund for the Horeca Dutch hotel and catering sector, says its administrative arrangement with the Dutch Tax Department and Employees’ Insurance Institute (UWV) is still not functioning.
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Norwegian state fund drops gold mine firm
NORWAY – A South African gold mining company has been dropped from the portfolio of the NOK1.8trn (€221bn) Norwegian Government Pension Fund – Global for environmental reasons.
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European institutions win €263m from Shell
EUROPE – European institutional investors led by the two largest Dutch pension funds have won a landmark securities claim from Shell relating to the oil giant’s 2004 reserves misreporting scandal.
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Switzerland’s ASIP names new president
SWITZERLAND – The management board of Swiss pension fund lobby group ASIP has nominated Christoph Ryter to succeed current president Hans Ender.
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Dutch to examine Belgian pensions legislation
NETHERLANDS – Dutch social affairs minister Piet Hein Donner says he will examine the implications of Dutch pensions funds moving to Belgium.
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Germans too conservative in pensions - Mössle
GERMANY – Fidelity’s head of German institutional business has warned that Germans face an income drop of nearly half in retirement.
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Greek bank sets up Turkish pension firm
GREECE - The National Bank of Greece (NBG) is establishing a pension insurance company in Turkey through its majority ownership at Turkey’s Finansbank.
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ABP rejects proposed pan-European vehicle
NETHERLANDS – Dutch pension giant ABP, at €211bn Europe’s largest pension fund, has said the government’s proposed new pension framework is “no attractive alternative”.
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UK's PPF recruiting investment chief
UK - The Pension Protection Fund is looking to recruit a chief investment officer, a new role.
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UK’s PPF appoints pool of legal advisers
UK – The Pension Protection Fund has appointed 27 law firms to provide legal advisory services.
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Pension impact in TNT job cull
NETHERLANDS – TNT Post, the Dutch postal service company, has announced possible changes to its pension scheme amid a cull of around 7,000 of its total 58,000 jobs.
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Belgian builders appoint Hewitt
BELGIUM – Belgian industry-wide construction workers’ scheme PensioB has appointed Hewitt Associates to design a tailor-made pension administration tool.
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Philips sets up Luxembourg pan-European scheme
LUXEMBOURG – Electronics giant Philips has set up a Luxembourg-based pan-European pension fund in accordance with the IORP directive on occupational pension funds.
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AZL facing court action from Dutch miners
NETHERLANDS – Dutch mineworkers are preparing legal action against pensions provider AZL in a dispute over payouts.
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UK’s NAPF responds as pensions tax row escalates
UK – The National Association of Pension Funds has responded to what has become a major political row over the government’s decision a decade ago to remove Advanced Corporation Tax Relief from pension funds.
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Finland drafting new pensions regulations
FINLAND – The Finnish ministry of social affairs and health is drafting a new set of regulations for the country’s pensions sector and will publish a timetable of the reform process later in April, IPE has learnt.
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Troubled Greek scheme gets new head
GREECE – Andreas Kintis has been appointed as the chairman of the Greek Civil Servants’ Auxiliary Fund (TEADY), following his predecessor’s forced resignation over bond-overpricing allegations.
