Latest on Regulation & Reform – Page 453
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News
Voluntary pensions have to fill gap, OECD says
TURKEY – As benefits in pension systems have been cut substantially since the 1990s, voluntary pension savings will have to fill the gap, says the Organisation for Economic Cooperation and Development.
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Features
Consultant activity goes with regulatory flow
A steady stream of legislative change affecting pensions is keeping consultants busy in the Nordic countries. Rachel Fixsen reports
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Swedish funds back in comfort zone
The new regulations were adopted without a tremor, thanks to strong solvency rates, writes Martin Whalgren
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Russian pension reform: reloaded
Why ‘fallen banner’ of pension reform looks like being carried forward.Alexander Kupriyanov and Vadim Loginov report
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Why cross border road is still rocky
The introduction of the IORP directive was supposed to bring multi-national companies one step closer to establishing pan-European pension provisions. But critics say that development is still years away. Maha Khan Phillips reports
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Ready for MiFID thunderbolt?
The different countdowns to the implementation of the MiFID directive freeing cross border securities sales are well under way, says Jeremy Woolf
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Finnish pension sector in united front
TyEL will soon make it easier to manage pensions earnings across the private sector. Jari-Pekka Törrönen reports
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Liechtenstein on track to implement EU directive
LIECHTENSTEIN – The law to bring Liechtenstein’s second-pillar pension funds in line with the European occupational pension funds directive goes into its second and third reading in the next weeks.
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Saxony-Anhalt passes pension fund law
GERMANY – The German province of Saxony-Anhalt has passed a law on the creation of a pension fund for civil servants. In neighbouring Lower Saxony the same idea brought forward by the Social Democrats found support among the unions.
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UK tenders judges’ pension services
UK – The Department for Constitutional Affairs (DCA) has tendered salary and pensions payroll services for the judiciary, members of the European Parliament and senior political and public office holders.
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Belgian pension association names secretary general
BELGIUM - The Belgian Pension Funds Association (BVPI-ABIP) has named Lut Sommerijns as its new secretary general from January 1.
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Norges chief slams “disguised beta” hedge funds
NORWAY – Knut Kjaer, executive director of Norges Bank Investment Management, which runs the NOK1.5trn (€182bn) Norwegian Pension Fund – Global, says many hedge funds are overpriced beta suppliers.
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Bolkestein slams Dutch funds over cross-border
NETHERLANDS - Dutch pension funds are endangering themselves by failing to take over company pension funds abroad, former EU commissioner Frits Bolkestein has said.
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Myners Report up for joint review by NAPF and Treasury
UK - The 2001 Myners Report on pension funds is to be reviewed by the National Association of Pensions Funds and the Treasury next year.
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Attack on Dutch minister’s pensions policy ‘disaster’
NETHERLANDS – One of the leading figures in the Dutch pensions industry has issued a broadside against the Dutch government’s supplementary pensions policy.
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Features
Return of the absolute
Swedish managers are coming to terms with the new environment. Barbara Ottawa reports
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Contradictions at heart of IFRS
Are the IFRS at odds with the Solvency II recommendations on good risk management practices in insurance companies, Philippe Foulquier asks
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The politics of portability
At a recent EPPF meeting, the EC’s portability proposals drew fire from almost all quarters, Daniel Brooksbank reports
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Co-operation is the way forward
As accounting rules tighten, more legislation is introduced and investment becomes more complex, a growing number of Dutch pension funds are contracting out their asset management and administration. Two leading providers of pension fund management services – Cordares and Mn Services – have responded to these developments by pooling their expertise. Leen Preesman and David White talk to the architects of this alliance
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Eureko’s Poland row intensifies
POLAND - Eureko has withdrawn its four representatives from the management boards of Polish insurer PZU because of what it says is “ongoing harassment and intimidation” from fellow board members.
