Pension System – Page 170
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NewsRegulator fines former Standard Life subsidiary £31m over annuity misselling
Standard Life Assurance failed to have robust systems and controls around its pension annuity sales, according to the FCA
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Auto-enrolment should be expanded, say UK firms
Nearly all companies favour broadening the regime to include lower-paid workers and the self-employed, according to a CBI/Scottish Widows poll
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French government adviser delivers pension reform recommendations
Report elaborates vision of a points-based universal system to replace the 42 schemes that form the current mandatory state-backed system
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Biggest Dutch pension funds face imminent benefit cuts following new rules
Nearly 6m active, deferred and retired members of the Netherlands’ two largest schemes face cuts next year if funding levels fall further in 2019
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NewsItalian pension schemes hit out at government plan for new fund
The Italian Social Security Institute wants to set up an alternative to existing second-pillar funds, but trade body Assofondipensione warns it could hurt the system
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NEST anticipates hitting £10bn by end-March 2020
The authorised master trust is growing rapidly, with assets under management doubling to reach £5.7bn at the end of March
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Nordea Life & Pension Sweden makes €2.1bn sustainable investment shift
Swedish pension provider says move halved the portfolio’s carbon footprint
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NewsFTSE 350 discount rates more bunched around average – report
Hymans Robertson suggests greater bunching an effect of tougher oversight, higher yields
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EIOPA IORP II opinions refuel prudential requirement fears [updated]
PensionsEurope said the opinions do not reflect the underlying character of the IORP II directive and reiterates fears of capital requirements being introduced ‘through the back door’
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Targeting people not in paid work could narrow gender pension gap: PPI
Pension Policy Institute finds 50% more women than men to retire with no private pension
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Largest Dutch pension schemes commit to national climate agreement
Joining accord said to mean ‘broadening of current emission reduction goals’
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€11bn Dutch medical consultant scheme not keen on system reform
Pension fund for self-employed medical consultants says that with its 3% fixed inflation compensation, it already had an ‘excellent’ pension plan
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PostNL reduces equity carbon footprint through shift to best-in-class
€8.4bn Dutch scheme for postal staff said the change lifted its equity returns by one percentage point
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Germany’s €30bn BVV targets digitisation, enhanced risk management
Expanded management board to allow the pension provider to harness digitation and respond to increased requirements on corporate governance and risk management
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Swiss government sets out state pension reform plans for autumn debate
Parliament to decide in the autumn on proposed increase to women’s retirement age, new first pillar funding and other reform measures
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EIOPA appoints ‘extraordinary’ expert group to help with PEPP work
The panel of 21 expert practitioners will test the regulator’s proposals for Level 2 implementing measures and act as a sounding board
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NewsDanish roundup: Prime minister starts talks on early retirement pension
Plus: Labour market pension fund PBU invests DKK100m in microfinance; Teachers fund Lærernes hires consulting firm for CEO search
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NewsUK minister ups the ante on pension funds and climate change
Guy Opperman tells London Climate Action Week gathering that pension funds ‘must play a massive role’ in getting the UK to net-zero greenhouse gas emissions by 2050
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NEST goes live with ‘sidecar’ savings trial
Three employers are offering an emergency savings account to their staff as NEST looks to build on success of auto-enrolment
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NewsDutch low-cost DC schemes approach €10bn in assets
PPIs managed €9.7bn in total at the end of March, marking a 20% increase in just three months
