Friday, June 30, 2006
Wednesday, June 28, 2006
Usefulness of IFRS in Europe
Tuesday, June 27, 2006
Pan-European Pensions in Z�rich [CH]
Ageing hits politics [NL]
Monday, June 26, 2006
Convergence conference materials
Wednesday, June 21, 2006
IZS Seminar on Pensions Directive
Reproductive technologies to address demographic challenge?
Tuesday, June 20, 2006
IMF proposes reform to Swiss pensions system [CH]
While the analysis inevitably remains at a high level of abstraction (for instance, there is no mention of the fact that many pension plans that are nominally classified as DC need to be reclassified as DB to stay in line with IAS 19), the international comparison permits important conclusions concerning the fragmented supervisory structure in Switzerland and its outdated regulatory framework with a set of parameters that are defined without much recourse to actual market developments.
It will interesting to follow the IMF's more detailed exploration of these issues, announced for the Financial Sector Assessment Program update scheduled for the end of this year!
Monday, June 19, 2006
Pensions Directive to enter EEA
Wednesday, June 07, 2006
Court action [DK]
To be reported in fact is an opinion of the Advocate General in the case C-150/04 EU Commission vs. Denmark. While it is certainly true that the Court usually follows the reasoning of the Advocate General, it is wrong to speak of it as an "initial judgement".
Materially, the opinion confirms the Court's earlier positions concerning the tax deductibility of retirement premium payments as stated most prominently in the Danner case. The "somewhat diffuse" justification of coherence of a country's system of taxation continues to be weakened, putting additional stress on Denmark's and Sweden's taxation which is not in line with the EET Principle. However, the opinion heavily relies on Double Taxation Treaties to extend said coherence to other Member States. This is a further indication of the functional importance of as dense a network of DTTs as possible.
Thursday, June 01, 2006
Demographics to hurt banks / insurance? [D]