NETHERLANDS - De Nederlandsche Bank (DNB) has reminded pension funds of their obligation to inform the regulator if they fail to meet reserve requirements, as a result of a downturn in the market and lower interest rates.
Falling share markets and lower yields in the bond markets have impacted on the coverage ratio of a number of pension funds in the Netherlands.
At the start of March, DNB estimated that around 10% of pension funds in the Netherlands had breached their reserve requirements, one of the thresholds built into the Dutch regulatory system to provide safeguards for pension fund beneficiaries.
The reserve requirement sets out the extra capital pension funds are required to have over their coverage ratio.
Funds that breach their reserve requirement have to provide the regulator with a plan to return to being above the threshold within 15 years.
The Pensions and Lifetime Savings Association (PLSA) has revamped the standards for its Pension Quality Mark (PQM) in a bid to raise the quality of single-employer defined contribution schemes.
People approaching retirement are "systematically misjudging" their longevity and undervaluing annuities, the Institute for Fiscal Studies (IFS) says.
Professional Pensions is holding a breakfast briefing on engaging defined contribution (DC) members on 7 February.
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.