CZECH REPUBLIC - Institutional investors, including pension funds, are looking to raise their real estate exposure in the Czech Republic, writes the Hospodarske noviny HN newspaper.
Central Europe is described as one the safest investment localities in the world, unlike other, more saturated markets such as France, Germany and the US, where investors fear steep yield declines and crises.
Pension fund investment will certainly stabilise the Czech real estate market. Of a total of 13 pension funds, with Kc70bn in assets under management, only two currently invest in property.
Separately, the Czech chamber of deputies passed a bill that would give individuals access to their pension accounts in 2006.
This means that Czechs can request a so-called ‘informational paper’ which would include funds that have accumulated in their pension accounts since 1986. Separate regulations are yet to be passed about the formation of individual pension accounts.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.