June 2024
24Jun

U.K. pension funds oppose dual-class voting proposed by regulators

U.K. pension funds and asset owners with a collective £136.2 billion ($173.2 billion) oppose reforms to U.K. listings that would allow for dual-class share structures that carry separate levels of voting rights. Dual-class share structures are already prevalent in other markets, such as the U.S. and Sweden. More than 40% of U.S. technology initial public offerings used dual-class structures between 2020 and 2022, according to a report by the Investor Coalition for Equal Votes. In a signed a letter to Ashley...

June 24, 2024
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20Jun

UK. Watchdog consults on pension abandonment

The Pension Regulator on Thursday repeated its concerns that companies may abandon final-salary pension obligations to cut risks and warned that scheme members' benefits could be in danger. The Regulator is to consult the industry about growing interest in companies passing their pension liabilities to outside businesses. It said there are about 10,800 private-sector funds in Britain that pay a defined benefit, usually based on pay levels. "While the Pensions Regulator welcomes innovation that helps employers and trustees better manage pensions...

June 20, 2024
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17Jun

UK. DWP Spending Review May Require PIP Recipients to Repay Money

The Department for Work and Pensions (DWP) provides State Pension and welfare benefits to about 22.7 million people across the United Kingdom. New numbers revealed in the 2024 Fraud and Error in the Benefit System report show that the overall number of benefit overpayments over the last year was £9.7 billion (3.7%), up from £8.3 billion in 2023. Personal Independence Payment (PIP) was implemented in 2013 to aid with additional expenditures associated with a long-term disability or health condition. The numbers reveal that...

June 17, 2024
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14Jun

UK. Labour manifesto confirms key pension priorities

The Labour Party has shared its 2024 manifesto, confirming plans to conduct a pensions review if elected, to consider what further steps are needed to improve security in retirement, and increase productive investment in the UK economy. In its manifesto, Labour said that it will act to increase investment from pension funds in UK markets, by adopting reforms to ensure that workplace pension schemes take advantage of consolidation and scale, and to deliver better returns for UK savers and greater...

June 14, 2024
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12Jun

UK. WASPI women promised they’ll receive ‘apology and proper compensation’

WASPI women have received a compensation pledge ahead of July's General Election. Department for Work and Pensions ( DWP ) campaigners have called for WASPI women to receive payouts after the Ombudsman's damning report earlier this year. In its election manifesto, the Liberal Democrats has stated: "The women affected by changes to their state pension age should receive an apology from the government and should be given proper compensation." Director of public affairs Becky O'Connor welcomed the measures to widen pension participation to gig economy...

June 12, 2024
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07Jun

Protection of EU Consumers Vis – À – Vis Pension Products: the Dutch Case: Towards a New Regime

By Hans van Meerten The book is an extensive examination of the intersection between EU consumer protection laws and the Dutch pension system, particularly in light of the transition to a new pension regime. It contains lessons for a new EU consumer regime vs pension products. The Dutch reform is taken a a case study. The document advocates for a comprehensive review of the Dutch pension system and its alignment with EU consumer protection laws. It suggests that while the Dutch pension...

June 7, 2024
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07Jun

Navigating the UAE’s updated pension regulations

The United Arab Emirates (UAE) has recently undergone a comprehensive reform of its legislative framework. It aims to address shifts in the work environment and align UAE relations with international best practices. The most recent and radical change to the pensions landscape is the implementation of a new pensions law, UAE Federal Decree Law No. 57 of 2023 (the 2023 Law). Discrepancy on effective date The 2023 Law was officially published on October 2, 2023. This legislation represents the most substantial...

June 7, 2024
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05Jun

EU. ESAs publish final greenwashing report calling for critical scrutiny

The European Supervisory Authorities (ESAs) – the European Banking Authority (EBA), European Securities and Markets Authority (ESMA) and European Insurance and Occupational Pensions Authority (EIOPA) – have called on financial institutions to deepen their critical scrutiny of sustainability related claims and improve product disclosures to combat greenwashing. Following two years of research, the trio today published their key findings and recommendations in tackling greenwashing. Key recommendations include an increase of human resources and expertise, along with increased use of tools for greater...

June 5, 2024
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04Jun

How Sustainability Disclosures and Regulations Benefit Investors

There are several regulations and disclosure requirements aimed at meeting sustainability and greenhouse gas reduction targets worldwide that investors will need to understand and from which they can hopefully benefit. Asset owners representing trillions in assets have pledged to mandate things such as sustainable, carbon-neutral portfolios and divestments from carbon producers. For example, the U.N.’s Net-Zero Asset Owner Alliance represents 69 asset owners with $8.4 trillion in assets under management with a target of achieving net-zero portfolios by as late as...

June 4, 2024
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May 2024
24May

UK. What could the general election mean for pensions, mortgages and investments?

Mortgage rates, pensions policy and investments could all be affected by the upcoming general election. Last night (May 21), prime minister Rishi Sunak called a general election for July 4, but what does this mean for people’s finances? All parties will need to set out their personal finance priorities which could include changes to pensions rules and may see some promised long-awaited reforms such as changes to auto-enrolment. The UK could also see impacts to mortgage rates and investments as well as...

May 24, 2024
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