Latest on Regulation & Reform – Page 445
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Features
EU pensions market beckons
Full implementation of the European Pension Funds Directive will lead to an efficient internal market for affordable company pensions, and the Dutch pension system has a key part to play, says Frits Bolkestein, former European Commissioner
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Features
DC - but not as we know it
The new regulations affect defined contribution plans and require a fresh look at plan design, writes Deborah Reidy
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Features
A catalyst for change
The arrival of UCITS III investment funds could have major advantages for institutional investors, Lothar Mente and Celeste Dias explain why
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Features
Green Paper must address inefficiencies
Sharing the burden of annuities is central to developing a robust and dependable pensions system in Ireland, says IAPF’s Nora Finn
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Features
Government takes protectionist position
By establishing the National Implementation Body to solve pension disputes, the Irish government has shown empathy with employees, writes Joe Byrne
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News
Denmark and Sweden to ‘think about’ ECJ tax ruling
NORDICS – Both the Danish tax ministry and the Swedish finance ministry said they will need time to evaluate the ruling the European Court of Justice (ECJ) has issued on Danish pension tax.
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News
ABV rejects move to absorb professions into state pension scheme
GERMANY – ABV, the lobby for German professional pension funds, has hotly rejected a proposal by German unions to abandon the pensions ABV members provide to the self-employed and have them instead contribute to the state pension scheme.
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News
ECJ rules against Danish pension taxation
DENMARK – Denmark is in breach of European law on freedom of movement of workers and capital by not granting tax-deduction on contributions to pension contracts with foreign insurers, the European Court of Justice (ECJ) ruled today.
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News
Slovak PM retreats on second-pillar pensions
SLOVAKIA – Private pension providers have welcomed the Slovak government’s decision to withdraw plans that would have diverted potential private pension contributions to the mandatory state-run PAYG scheme.
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News
PIRC offers UK funds Myners health check
UK - Corporate governance specialist, PIRC, is offering trustees an independent check-up on compliance with the Myners principles.
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News
Make better use of IORP – Netspar researcher
THE NETHERLANDS - The Dutch pensions sector should consider whether current legislation needs to be extended to cover all options allowed by the European Pensions Directive, says Netspar research.
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News
UK regulator issues guidance on transfer ‘inducements’
UK - Pension funds are less likely to be accused of “tricking” scheme members into transferring out of defined benefit (DB) schemes following guidance issued by the regulator requiring scheme operators to inform members of the implications of transfer.
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News
ECJ finds member states not responsible for funding insolvent employers
UK – The European Court of Justice (ECJ) ruled that member states are not obliged to fund old-age benefits of companies in case of insolvency, but left it to the UK High Court to decide whether in the case of ASW employees compensation is to be paid.
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News
Sector welcomes early evaluation of double supervision
THE NETHERLANDS - The Dutch pensions sector has welcomed Social Affairs’ minister Aart Jan de Geus’ promise, that he is willing to examine the issue of the double supervision of pension funds.
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News
Combine spaarloon and levensloop - insurers
THE NETHERLANDS - The Dutch government should give workers the option of participating in the tax-friendly schemes ‘spaarloon’ and ‘levensloop’ simultaneously, in order to make the latter more attractive, said the Dutch Association of Insurers (VvV).
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News
BVI rejects transactions cost disclosures in German fund reforms
GERMANY – The finance ministry has proposed reforms to Germany’s investment law in an effort to boost the competitiveness of the German asset management industry.
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News
Many Dutch schemes still have to implement FTK - KPMG
THE NETHERLANDS - One-third of Dutch pension funds have failed to fully implement the new financial assessment framework FTK as of 1 January, a KPMG survey has shown.
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News
Little fundamental change seen in new UK transfer rules
UK - Pension schemes will calculate transfer values based on the likely cost to the scheme of providing the pension, according to a statement issued by the Department for Work and Pensions (DWP).
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News
Stork verdict wins all-round approval
THE NETHERLANDS - All parties involved in the dispute between industrial conglomerate Stork and the hedge funds Centaurus and Paulson have indicated to be satisfied for now with the decision of the Amsterdam court of justice.
