July 2020

10Jul

EIOPA announces the new composition of its two stakeholder groups

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) has appointed new members to the Insurance and Reinsurance Stakeholder Group (IRSG) and Occupational Pensions Stakeholder Group (OPSG). The two groups consist of a broad range of stakeholders, representing the industry, consumers, beneficiaries, academics, small and medium-sized companies, employees as well as professional associations. EIOPA received considered 158 applications from 26 European countries, submitted following an open call. In its selection, EIOPA aimed to achieve geographical...

July 10, 2020
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January 2020

07Jan

ESG future-proofing can help to defy market risks

The European Insurance and Occupational Pensions Authority (Eiopa) found in its most recent stress tests of European pension funds that sustainable investments would help them to withstand an adverse scenario. The 2019 occupational pensions stress test assessed the resilience of the European pension sector to identify areas of weakness and discuss possible preventive measures. Eiopa is part of the European System of Financial Supervision and supports the stability of the financial system, the transparency of markets and financial products...

January 7, 2020
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December 2019

20Dec

EU pensions judgement sees calls for further solutions

The European Court yesterday provided its ruling on the level of compensation to be provided to individuals who do not receive all of their occupational pension due to the sponsoring employer of their scheme going insolvent. The European Court ruled that the current EU legal requirement that individuals should be entitled to at least 50% of their benefits can continue - provided the person is not left at risk of an EU poverty measure equivalent to about £11,142 per...

December 20, 2019
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18Dec

Pension Schemes in EU Show Big Shortfalls in Stress Test

A stress test of pension schemes across the European Union wiped out 270 billion euros ($298 billion) or almost a quarter of investments at funds that took part, the EU's insurance and pensions watchdog said on Tuesday. Many of the schemes were also not considering the impact of environmental, climate and social risks on their investment decisions, the European Insurance and Occupational Pensions Authority (EIOPA) said in a statement. Investments by the tested schemes in shares also showed a...

December 18, 2019
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November 2019

29Nov

The Future of Pension Plans in the EU Internal Market: Coping with Trade-Offs Between Social Rights and Capital Markets

By Nazaré da Costa Cabral, Nuno Cunha Rodrigues This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level...

November 29, 2019
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October 2019

22Oct

IOPS Supervisory Guidelines on the Integration of ESG Factors in the Investment and Risk Management of Pension Funds

Published today, IOPS Supervisory guidelines on the integration of ESG factors in the investment and risk management of pension funds highlight a range of challenges to be met by pension funds governing bodies, asset managers and pension supervisors. Environmental, Social and Governance (ESG) factors are key and timely issues for the investment and risk management of pension funds, whose consideration is relatively new in the landscape of regulatory frameworks of pension funds worldwide. They are also dynamically evolving and...

October 22, 2019
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September 2019

26Sep

EU. Pensions Inadequacy: The High Fees Often Charged By European Pension Providers Prevent Many EU Citizens From Enjoying A Decent Retirement

For the seventh year in a row, BETTER FINANCE embarked on the herculean task of gathering all the data on private pensions in 17 EU Member States and published its annual report on the real net returns of long-term and retirement savings in Europe. Despite the fact that the European Supervisory Authorities (ESAs) have a legal duty to collect, analyse and report data on “consumer trends” in their respective fields, the “Pension Savings – The Real Return” Report remains...

September 26, 2019
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09Sep

European stocks cautious as investors eye Brexit battle and stimulus hopes

European stocks traded mixed Monday afternoon as investors monitor ongoing political chaos in the U.K. and cautious hopes for policy stimulus from the world’s major economies after a series of weak data releases. The pan-European Stoxx 600 hovered just below the flatline, auto stocks adding 1.6% to lead gains while the food and beverage sector slid 1%. British newspaper the Daily Telegraph reported late on Sunday that Prime Minister Boris Johnson has prepared a legal strategy to counter opposition...

September 9, 2019
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02Sep

Great Brexit Insurance Migration Shifts $75 Billion From London

London’s outsized role in the global insurance industry is being whittled down by Brexit. As much as 61 billion pounds ($75 billion) of business is shifting to rival financial centers in the European Union as a consequence of Britain’s vote to leave the bloc. And it’s happening regardless of the divorce terms. The EU’s insurance and pensions regulator has ordered every U.K.-based underwriter to transfer policies held by European clients to units on the continent. While the bulk of...

September 2, 2019
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August 2019

01Aug

A sustainability taxonomy for investors

On June 18, 2019 the EU expert group for sustainable finance (TEG) published a proposal for a European definition of environmentally sustainable activities. The taxonomy is best compared to a green encyclopedia for financial market participants. An encyclopedia that provides guidance to investors that are looking to finance the transition to an economy in line with the goals of the Paris Climate Agreement. The TEG’s proposal is a major step towards a European definition of sustainable economic activities....

August 1, 2019
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