Latest on Regulation & Reform – Page 442
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News
DC members save towards “soup kitchen” - Tomlinson
UK – Current defined contribution schemes will not provide sufficient means for members in retirement, Lindsay Tomlinson, vice-chairman of Barclays Global Investors, told delegates at the NAPF investment conference in Edinburgh today.
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News
Supreme Court demands disclosure on fund kickbacks
GERMANY – The federal supreme court’s ruling last week on so-called kickback payments could lead to a change in fee structures, says leading German investment fund lawyer, Sven Zeller.
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NAPF polls industry on Myners reform
UK – The National Association of Pension Funds (NAPF) is asking trustees, members and advisers to supply their views on the Myners principles.
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News
CalPERS settles for €89m in Time case
GLOBAL - The $230bn (€175bn) California Public Employees Retirement System (CalPERS) has recovered $117.7m (€89.2m) from media firm Time Warner in a settlement of a lawsuit brought in 2003.
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Thomas Steffen elected new CEIOPS chair
EUROPE – The Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) has elected Thomas Steffen, Germany’s top insurance regulator, as its new chairman, effective from March 12.
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Employers under fire from Irish Pensions Board
IRELAND – Less than half of employees are offered access to a pension, while just 6% have approached their employer about gaining access, according to research by the Irish Pensions Board.
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Germans to work two years longer
GERMANY – German parliament today approved a government proposal to raise the retirement age from 65 to 67.
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Ireland to consider auto-enrolment
IRELAND – A Green Paper on the future of Irish pension provision due to be delivered this month will consider the UK’s auto-enrolment proposals, social affairs minister Seamus Brennan has said.
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EU to launch pension annuity probe
BRUSSELS – The European Commission has issued a tender for a study on how current products on the EU market that convert accrued assets in pension funds into annuities are developing and whether they are adequate, modern and sustainable.
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UK industry cold on FSA, pension regulation merger
UK – Industry representatives have taken a negative view of a proposed merger of the FSA and pension regulation bodies.
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Swiss keep pension supervision outside new authority
SWITZERLAND – The Swiss parliament has rejected proposals to merge the supervision of pension funds with that of other financial institutions.
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Features
Multinationals play a waiting game
Belgium has set itself up as a welcoming destination for pan-European pension funds. Now it must sell its attractions abroad. Nina Röhrbein reports
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Features
New benchmark for the pensions industry
The new legal framework for pensions in Belgium should lead to greater transparency and more responsibility being exercised by the board of trustees, writes Karel Stroobants
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News
Irish ombudsman calls for scheme modernisation
IRELAND – The Pensions Ombudsman has been reported as saying that most Irish schemes are designed to meet the needs of employers rather than scheme members.
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News
Multinationals mull Belgium as pan-European centre
BELGIUM - Three multinationals are looking to establish an OFP, Belgium’s new cross-border pension vehicle, according to Eddy Wymeersch, chairman of the country’s Banking, Finance and Insurance Commission (CBFA).
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Features
Convergence still a mirage
The search for a consistent approach to solvency looks a long way off – leaving regulatory arbitrage as a distinct possibility. David White reports
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Features
Pan-European pension moves a step nearer
A recent ruling by the ECJ should prevent member states from discriminating against the pension contributions paid to funds in another EU member state, as Peter Schonewille reports
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Features
Lobby group attacks pan-European move
Brussels-based body representing US companies blames lack of mobility of EU workers on tax obstacles and poor co-ordination, as Jeremy Woolf reports
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Special Report
Steering a careful path between DB and DC
In his new book Keith Ambachtsheer advocates a pensions revolution based on sustainability and transparency, as Stephanie Schwartz-Driver reports
