Latest on Regulation & Reform – Page 451
-
News
Ex-Unilever pensions head Lewin to help DWP
UK – The Department for Work and Pensions has appointed former Unilever UK head of pensions Chris Lewin to help it cut red tape.
-
News
Swiss court throws out pension fund lawsuit
SWITZERLAND – A court for the Swiss region of Olten has dismissed a government lawsuit against six people connected with the 1996 collapse of the Vera/Pevos pension fund – the biggest ever in Switzerland.
-
News
Immigration won’t save European PAYG - professor
EUROPE – Immigration won’t come to the rescue of Europe’s pay-as-you-go pension systems, argues Harvard professor Martin Feldstein.
-
News
European firms see pension risk – survey
GLOBAL – Nearly a quarter of continental European companies believe their pension plans represent a serious risk to the organisation, a survey by Mercer has found.
-
News
Solvency II for pension directive “unclear” - FSA
EUROPE - It's still unclear whether the European Union's occupational pension fund directive will be amended to account for the Solvency II project for insurance companies, according the UK's Financial Services Authority.
-
News
Pension funds taking on too much risk, says ECB
EUROPE - The European Central Bank has warned that underfunded pension obligations may be leading investors into taking on too much risk – especially in emerging markets and high-yield bonds.
-
News
Groupe expects changes to assumptions under IORP
EUROPE – The Groupe Consultatif Actuariel Européen says it expects to see “significant” changes in the way discount rates and other pension fund assumptions are determined under the occupational pension fund directive.
-
News
IBM helped to steal pension money, Russia says
RUSSIA – Special investigation teams have raided the offices of IBM, the Russian Pension Fund and two Russian computer companies in connection with allegations of embezzlement of pension money.
-
News
Amicus sees DB/DC template for Bank of Ireland
IRELAND – A deal on the creation of a hybrid DB/DC at the Irish Life & Permanent TSB bank might be a model for resolving the Bank of Ireland dispute, the union Amicus says.
-
News
UK regulator issues cross-border guidance
UK – The Pensions Regulator has issued guidance about the application process for authorisation and approval for trustees to accept contributions in respect of European members.
-
News
Dutch Upper House passes new Pensions Act
NETHERLANDS - The Upper House of Parliament, the Eerste Kamer, has passed the new Pensions Act, according to national news agency ANP.
-
News
New EU-Swiss pension rules agreed
SWITZERLAND – Swiss pension funds will cease paying out accrued benefits for workers who leave Switzerland for the EU as from June 2007, according to industry association ASIP.
-
News
UK board wants buy-out disclosure
UK – The UK’s Accounting Standards Board has unveiled new requirements in a bid to improve the disclosure of pensions information – although some observers said it was a “disclosure too far”.
-
News
Belgium in talks with European, US funds
BELGIUM – The Belgian Association of Pension Institutions (BVPI) is in "serious talks" with European pension funds and one American fund in a further effort to establish Belgium as a pan-European pension fund domicile.
-
News
Norway Global fund excludes cluster bomb maker
NORWAY – The NOK1.7trn (€209bn) Norwegian Government Pension Fund – Global has excluded the South Korean Poongsan Corporation from its investment portfolio for producing cluster bombs.
-
News
UK government rejects longevity bonds
UK – The UK government has rejected the Pensions Commission’s suggestion that it should issue so-called “longevity bonds” to deal with future mortality rates.
-
News
Scottish MPs want to curb tobacco investment
UK – A group of members of the Scottish parliament want to stop their pension fund investing in tobacco companies.
-
News
ECB sees pension funds’ role increasing
EUROPE – The European Central Bank says pension funds’ role within financial markets will increase due to the increasing size of retirement assets.
-
News
Giant Dutch-style Norwegian pension fund proposed
NORWAY – A giant Norwegian pension fund along Dutch lines, encompassing the Government Pension Fund as well as cash from the sale of the state’s stakes in large companies and privatisations, has been proposed by an official at Norges Bank.
-
News
Dutch VB hails merits of collective schemes
NETHERLANDS – Collective pension funds are cheaper and deliver larger benefits than commercial pensions, according to a report by the VB, the Dutch Association of Industry-wide Pension Funds.
