Latest on Regulation & Reform – Page 76
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NewsDutch pension funds ask government to pay for supervisory cost increases
Additional supervisory costs related to the pension transition should be financed by tax payers rather than pension funds, according to Dutch social partners
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NewsCompenswiss holds strategy as first pillar reform gives room for illiquid investments
It will receive additional funds through an increase of the VAT rate
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NewsUK retirees see 20% increase in expenditure due to high inflation, says association
PLSA updates Retirement Living Standards as inflation adds to cost of retirement
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NewsDutch pension law heads to Senate after parliamentary approval
The Netherlands’s Second Chamber approved the law just before Christmas with a comfortable majority
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NewsGerman coalition parties fire back at proposals to change pensions
Chair of the Council of Economic Experts called to increase retirement age, contribution rates, and cut high pensions
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NewsNorway overrules FSA on fund fees, saving pension funds NOK8bn, says lobby
Finance Ministry disagrees with FSA that mutual fund managers are subcontractors
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NewsPPF’s latest consultation proposes updates to valuation assumptions for buyout
The PPF is proposing adopting a yield-curve approach when assessing schemes for entry to the scheme
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NewsNorwegian finance lobby douses independent SWF council idea
GPFG’s assets total surges, reaching NOK13tn for first time
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NewsSkandia invests SEK500m in first bond linked to new SWESTR rate
As long-term investor, Swedish pensions firm ‘appreciates transparency’ of new transaction-based reference rate
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NewsNorges moots general inclusion of unlisted equity in SWF’s universe
Manager of Norway’s NOK13trn GPFG calls for review of mandate - given radical proposals on the table
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NewsItalian government paves way for pension reforms
Ministry of Labour and Social Affairs is set to meet with the unions on 19 January to start discussing changes to the pension system
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NewsAustrian regulator intensifies supervision on sustainable products under new EU rules
The Delegated Regulation specifies the content, methods and presentation of information in a ‘practical and precise manner’
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NewsGerman employers’ associations call on government to act on pension reforms
The German labour market continues to have structural problems, and one solution is to create the right conditions for people to work longer, says BDA
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NewsATP’s overall risk ‘freezing cold’, says CEO, countering critics
Martin Præstegaard in pre-Christmas post: ‘Following the markets is part of the strategy and a condition for a long-term investor’
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NewsNorway pensions lobby hails government U-turn on high-earner contributions
Drevsjø says move to exclude pension funds from extra tax relieves them of heavy workloads and more costs
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NewsISSB releases draft definition of ‘sustainability’ for new reporting framework
The description is intended to provide important context for companies applying the board’s new standards and making materiality assessments
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Opinion PiecesEuropean authorities must focus on derivatives risk
Opinions may differ on whether Brexit has had a positive or negative impact on either of the parties involved. However, it could be argued that an idiosyncratic event such as the liquidity crisis that took place in the United Kingdom at the end of September could have been averted, had the country been part of the bloc. Investors lost confidence in the UK government, now more isolated than before Brexit, and its ability to maintain its fiscal balance, after the announcement of a massive fiscal spending plan at the end of September. That sent yields on UK Gilts soaring and led to a spiralling lack of liquidity, as pension funds rushed to post collateral on their interest-rate derivative positions.
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FeaturesPension funds at risk from cyber security threats
Regulators are increasingly focusing on the vulnerabilities of pension funds to the threat of cyber attack, which can bring disruption and potentially large-scale reputational fallout for schemes and sponsors
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Opinion PiecesGuest viewpoint: Why and how we need to change the conversation about pension reform
In their new book, Power and Prediction, on the disruptive economics of artificial intelligence (AI), authors Ajay Agrawal, Joshua Gans and Avi Goldfarb write about the ‘between times’ between an important new discovery and the time it takes for that discovery to go mainstream. In 1879, Thomas Edison demonstrated the potential of the electric light bulb to change the world, yet 20 years later only 3% of US households had electricity. It would take another 20 years for that number to reach 50% of the population. For electricity the ‘between times’ were 40 years. This prompted the authors to wonder how long the ‘between times’ will be for AI.
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NewsTPR confirms appointment of Nausicaa Delfas as new chief executive
Her background in governance will be vital to meet the challenges of new legislation
