Latest on Regulation & Reform – Page 456
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News
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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Features
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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Features
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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Features
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POLAND - Eureko has withdrawn its four representatives from the management boards of Polish insurer PZU because of what it says is “ongoing harassment and intimidation” from fellow board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.
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UK board reviews buyout disclosure proposal
UK – The UK’s Accounting Standards Board is reviewing its proposal that companies should disclose how much it would cost to buy out their pensions.
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ABP's Maassen re-elected EFRP chairman
EUROPE - Jaap Maassen, director of pensions at Dutch pension fund giant Stichting Pensionfonds ABP, has been re-elected chairman of the European Federation for Retirement Provision.
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UK pensions regulator names risk management head
UK – The Pensions Regulator has appointed Martine Trouard-Riolle as its permanent head of corporate risk management.
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Dutch regulator wary over collective DC
NETHERLANDS – Collective defined contribution (CDC), in a climate of limited interest in pensions and irrational decision-making, is not the cheapest option, argues an official at Dutch pension regulator De Nederlandsche Bank (DNB).
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German MEP attacks portability plan
GERMANY – Thomas Mann, a German MEP, has fired another broadside at the European Commission’s proposed pensions portability directive, saying that if it were enacted as is, it would seriously threaten occupational pensions in Germany.
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EFAMA director general exits after a year
EUROPE - Hugh Trenchard, director general of the European Fund and Asset Management Association, is stepping down after less than a year in the role.
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ECB sees pension fund-bank competition
EUROPE – Demographic change could prompt greater competition between pension funds and banks, says the European Central Bank.
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New EU official handling IORP directive
EUROPE – A new official has taken over at the European Commission’s internal markets department overseeing the implementation of the occupational pension fund directive.
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UK’s PPF in “urgent” fund manager tender
UK – The Pension Protection Fund has issued a tender seeking asset managers for a range of asset classes as a “matter of urgency”.
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German government agrees first-pillar reform
GERMANY – The governing Conservatives and Social Democrats have agreed details for a major reform of the state pension scheme, to include hikes in the retirement age and the statutory contribution on the one hand and cuts in the state benefit on the other.
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Insurers fight cost issue in UK’s planned NPSS model
UK – Cost is not a key-factor in the choice between the delivery options for the government’s planned Personal Accounts scheme, as the proposed centralised model will only provided limited economies of scale, according to a report from the UK’s insurance industry.
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Only half German PKs will survive – survey predicts
GERMANY – Only about half of the Pensionskassen competing for pension business nationwide have a viable long-term business model, according to the consultant Rauser Towers Perrin (RTP).
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Parliament majority supports extending levensloop
NETHERLANDS – A majority of the Dutch parliament supports the extension of the tax-friendly ‘levensloop’ life-course scheme.
