Latest on Regulation & Reform – Page 455
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News
EU’s McCreevy targets public sector pensions
EUROPE – Charlie McCreevy, the European Commissioner for Internal Markets, has called on European governments to tackle their burgeoning public sector pension liabilities.
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Irish pensions regulator names new CEO
IRELAND – Brendan Kennedy, actuarial adviser at the Pensions Board, is to take over as chief executive of the regulator from Anne Maher.
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UK aligns FRS17 pensions standard to IAS19
UK – The UK’s Accounting Standards Board is to amend the FRS17 retirement benefits accounting standard to align it with the international IAS19 standard.
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“Reactionary” Pickering remarks under attack
UK – Alan Pickering, the former chairman of the European Federation for Retirement Provision and the National Association of Pension Funds, has come under attack from a pensioner group for “reactionary” comments about auto-enrolment.
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Bank chief warns over hedge fund due diligence
EUROPE – The German central bank has warned that “competitive pressures” may mean prime brokers are compromising on hedge fund due diligence.
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German MPs OK Rürup changes
GERMANY – The finance committee for Germany’s lower house of parliament (Bundestag), has approved changes to the Rürup-Rente, a private pension for the self-employed, in a bid to boost its attractiveness.
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Insider pension trustees act for sponsor – study
UK – A new academic study has presented evidence that company-appointed pension fund trustees act in the interests of the sponsoring company and not scheme members.
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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.
