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‘Unfair’ Danish pensions tax delivers 40% more revenue as calls grow for abolition


By Natalie Tuck

A ‘special’ corporation tax levied on the Danish pension and insurance industry has generated 40 per cent more revenue for the government compared to 2024, leading to calls for the “unfair” tax to be abolished.

New calculations by Insurance and Pension Denmark (I&P Denmark) revealed that in 2024 the industry paid DKK 350m in special tax, a significant rise from the DKK 250m paid in 2023


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Romania adopts private pension payout law; critics warn it 'seriously violates' citizens' rights

The Romanian government has approved long-awaited payout rules for private pensions to support its plans to join the Organisation for Economic Cooperation and Development (OECD), but consumer groups argued the law restricts participants’ control over their savings and unfairly favours state and industry interests
Central Bank warns Iceland’s pension law is outdated as funds outgrow domestic market

Iceland’s pension system has expanded to a size that now eclipses its domestic economy, with the Central Bank of Iceland warning that legislation governing the sector has fallen behind reforms in other parts of the financial system

Romania’s ASF warns pension supervision at risk under govt restructuring plans

Romania’s Financial Supervisory Authority (ASF) has warned that government plans to restructure the institution could weaken its ability to oversee the country’s private pension system, as well as insurance and capital markets
ETK warns pension reform ‘labelling’ can trigger unintended outcomes

The way pension reforms are labelled can significantly shape applications, outcomes and behaviour, according to new research from the Finnish Centre for Pensions (ETK)

News in brief: 22 August

The latest news in brief and mandates from the past seven days
Germany’s pension system a ‘time bomb’, LBBW warns

A new report from banking firm LBBW has found that demographic shifts within Germany are a time bomb that will push the nation’s pension system to its limit


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Reform in bloom?

Big changes are coming – slowly – to the Netherlands' celebrated pensions system, as demographics and economics have made reform necessary. David Adams reports on the challenges still to be overcome

The gloves are off

Rising trade tensions and aggressive tariff policies from the US are forcing European pension funds to reassess their exposure to American equities. As market dynamics shift, pension fund CIOs are weighing up whether it’s time to reduce their reliance on the long-dominant US market or adapt their strategies to navigate the new landscape. Giovanni Legorano reports

The talent relay

The European pensions sector is struggling to recruit talented individuals to take the baton as older workers retire. How can an industry, often perceived as slow moving, attract and retain the right talent? Pete Carvill reports

Investing with impact

ERAFP CEO, Régis Pelissier, chats to Natalie Tuck about how RAFP’s investment strategy has evolved, its strong ESG ethos and the challenges and opportunities that lie ahead

PEPP: The next step

The news of a second pan-European personal pension product (PEPP) could mean

big things for the future of pension provision in Europe. LifeGoals Financial Services executive director, Panayiotis Mavromichalis, and Cross Border Benefits Alliance-Europe secretary general, Dr. Francesco Briganti, explore the implications

Lessons in leadership

Veritas CIO, Laura Wickström, chats to Natalie Tuck about her career history, not being scared to take risks and taking on the mantle of CIO at one of Finland’s key pension players

Class Actions Focus: Rebalancing the scales

RGRD co-founder, Mark Solomon, sits down with Natalie Tuck to discuss European pension funds’ changing attitude to securities litigation, its governance benefits and the fear of finding out, while RGRD senior advisor, Melissa McDonald, outlines 10 emerging themes for institutional investors and explains why they are important

Tackling 2025

PensionsEurope secretary general and CEO, Matti Leppälä, looks back on an eventful year to date and outlines the key issues shaping the association’s agenda for the coming months

Going against the crowd

Auto-enrolment (AE) has been hailed as a great success for encouraging greater pension saving rates, but challenges are being seen in some AE systems, with Lithuania recently announcing plans to move away from AE in favour of a voluntary system. Sophie Smith reports

A longer path ahead

As people live longer, the workforce is moving away from the traditional notion of retirement to a more flexible way of thinking. But how far has flexible retirement been implemented at a policy level and is this working? Paige Perrin reports

ESG: Hot or not

While increased regulatory clarity and growing investor demand have driven progress, political pushback and inconsistent implementation continue to challenge the integration of environmental, social and governance (ESG) principles. European Pensions takes the temperature on a complex and evolving landscape. Written by Callum Conway

Regulation, reform and refinement

Following another year of economic challenges and geopolitical shifts, Europe’s pension sector is preparing for a transformative 2025. Callum Conway takes a look at the developments expected in the pensions landscape this year

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Podcast: Stepping up to the challenge
In the latest European Pensions podcast, Natalie Tuck talks to PensionsEurope chair, Jerry Moriarty, about his new role and the European pension policy agenda

Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

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