Latest on Regulation & Reform – Page 456
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Dutch FTK prompts investment changes – survey
NETHERLANDS – The new Financial Assessment Framework for Dutch pension funds, or FTK, has prompted changes in funds’ investment policy, a new survey has found.
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Commission plans more legal action on IORP
EUROPE – The European Commission is likely to take more legal action against member states over the implementation of the European directive on occupational pension funds, a top official has said.
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OECD sees “vicious circle” of pension bond demand
GLOBAL – The Organisation for Economic Cooperation and Development says new accounting standards may have set up a “vicious circle” of bond demand from pension funds.
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UK’s PPF outlines investment principles
UK – The UK’s Pension Protection Fund has outlined its investment principles, highlighting a diversified, liability-driven approach with derivatives.
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New FTK parameters to hit premiums, expert says
NETHERLANDS - The new parameters for the financial assessment framework FTK, announced last week by De Nederlandsche Bank, could lead to up to a 6% increase in pension contributions, says pensions professor Guus Boender.
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Germany considers private equity crackdown
GERMANY – The German government is considering penalising private equity firms which it believes serve little or no macroeconomic purpose as part of an upcoming private equity law, according to deputy finance minister Barbara Hendricks.
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Liechtenstein ends civil service scheme payments
LIECHTENSTEIN – Liechtenstein’s civil service pension scheme will no longer receive top-up payments out of the state budget, under new proposals.
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DNB amends FTK parameters
NETHERLANDS – The Dutch pension regulator De Nederlandsche Bank has released new recommendations about the parameters for the new Financial Assessment Framework, or Financieel Toezichtskader (FTK), for pension funds.
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IMF queries quality of pension supervisors
GLOBAL – The International Monetary Fund has queried whether international pension supervisors pay enough to attract the best people.
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ECB hikes rates, cites pensions
EUROPE – The European Central Bank raised its key interest rates today, saying it did so in part to create stable conditions for pension reform amid population ageing.
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Hedge funds past their peak, says UK’s Field
UK – Former UK pensions minister Frank Field reckons the best days of hedge funds are over.
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One industry, two standards
Machiel Hoek and Hans Grönloh are striving for convergence on accounting standards to boost the real estate sector
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ABP’s CFO critical of UK pension system
EUROPE - Dick Sluimers, chief financial officer at Stichting Pensioenfonds ABP, has criticised the UK pension system.
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Polish reformer Góra condemns govt plans
POLAND – Marek Góra, the Warsaw School of Economics professor who was one of the architects of the Polish pension reform, has condemned the Polish government’s pre-pensions proposals, saying they would amount to a “disaster”.
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Lithuanian pension funds to merge
LITHUANIA – Invalda AB, the parent company of Finasta Investment Management, has bought Medicinos banko Investment Management.
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DNB study: Dutch funds to use more derivatives
NETHERLANDS – A paper from Dutch pension regulator De Nederlandsche Bank sees derivatives and asset liability management becoming more important for pension funds.
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Features
Is Swiss legislation restricting diversity
In an attempt to encourage so-called ‘riskless’ investing, Swiss pension laws may be preventing funds from allocating their assets properly. Antoine Cuénod reports
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Bleak future for Taft-Hartley plans
Last May the FBI spent almost $250,000 (€197,000) digging for the remains of Teamsters leader Jimmy Hoffa, who disappeared in 1975 a few miles from Detroit, Michigan. Many members of the union that used to be led by Hoffa and is now managed by his son James would have preferred ...
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Features
Conversion rates take a downhill path
The Swiss government’s attempt to lower conversion rates is likely to spark off increased controversy about pension returns. Peter Hunziker reports
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Surge seen in second pillar funds
Asset growth has been exceptional throughout the region, reports Krystyna Krzyzak
