Latest on Regulation & Reform – Page 483
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News
Managers, strategy under scrutiny at Co-Op
UK – The Co-operative Group’s decision to shut its final salary scheme and create a single £4.7bn (€6.8bn) career-average salary fund will put both investment strategy and fund managers under review if trustees formally approve the change.
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Germany confirms real estate stress tests
GERMANY – Financial services regulator BaFin has confirmed that it will include direct investments in real estate in so-called “stress tests” for German life insurers and certain pension funds.
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PGGM’s Prins takes over at OPF
NETHERLANDS – Frans Prins, public affairs director at health care scheme PGGM, has been appointed as the new director of the Dutch company pension fund association OPF.
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Netspar partnership director Bakker to leave
NETHERLANDS - Rob Bakker, director of partner contacts at Dutch pensions network Netspar, is to leave next month, the organisation has announced.
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Regulator may fine ABP, PGGM over levensloop
NETHERLANDS – The Dutch pensions regulator DNB may fine the country’s two largest schemes, ABP and PGGM, for promoting the levensloop, or ‘life course’, schemes of the subsidiaries.
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Strike threat over UK NHS pension privatization
UK – Management could follow administrative workers into redundancy under government plans to outsource the NHS Pensions Agency’s remaining functions next year.
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Features
Too open and too loose?
An argument between Age, the older people’s platform, and the European Commission is simmering over how effective the EU’s peer review system is, just as the EU’s executive body gets ready to publish a series of non-binding suggestions for how member states can step up pension reforms. Following the submission ...
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Features
Portability: benefit or burden?
In October 2005 the European Commission published a draft directive on the portability of occupational pension rights in the EU. (Like all other directives, the requirements would be considered minimum standards; member states could maintain or create more favourable conditions for employees.) The Commission has always promoted the freedom of ...
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News
Star calls for Dutch governance principles
NETHERLANDS - The implementation of the principles for pension fund governance by scheme boards must be made mandatory, the Dutch Labour Foundation has said.
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Dutch governance body Eumedion launches
NETHERLANDS - The corporate governance forum Eumedion – formerly known as SCGOP – has started under its new name with nine new members.
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Delta Lloyd’s Bostanci wins IPE/AIMSE scholarship
GLOBAL - The 2005 IPE/AIMSE Scholarship has gone to Sibel Bostanci, head of institutional sales at investment management firm Delta Lloyd in Germany.
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Providers prepare as Norway goes mandatory
NORWAY - Norwegian pension providers are gearing up for a market boost with the introduction of mandatory employer contributions to privately managed employee pension funds.
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EU Commission calls for flexible retirement ages
EUROPE – The European Commission says the right policy response to increasing life expectancy may be flexible retirement ages.
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Allianz Global Investors sets up Luxembourg arm
EUROPE – Allianz Global Investors has founded a subsidiary in Luxembourg from which it plans to bolster its European presence, especially where investment funds are concerned.
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News
Cordares-ASW merger set for January
NETHERLANDS - The Dutch construction industry pensions providers Cordares and ASW say they will complete their previously announced merger as of January 1.
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UK body to review pension liabilities disclosure
UK – The UK’s corporate financial reporting regulator is to review best practice for firms’ disclosure of pensions liabilities.
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Bank of Ireland buys into alternatives group
IRELAND – The Bank of Ireland has agreed to buy more than 70% of US hedge fund group Guggenheim for €154m.
