Join us on Tuesday 6 November for our next seminar in Belgium which will cover "Regulation: What are the Key Current Issues for Belgium Pension Funds and How to Survive Them?". We will discuss some of the crucial issues facing Belgium Pension Funds today, including the Minimum Funding Requirement. We are pleased to have some excellent speakers and particularly appreciative to have representatives of the CBFA on the panel.
Timing:
Coffee from 09.30, Presentations from 10.00, Lunch and drinks will be served from about 12.00 to finish by 14.00.
Venue:
Kasteel Diependael, Tervuursesteenweg 511, 1982 Elewijt, Belgium.
(20 km north of Brussels, just off E19). Tel +32(0)15/61 17 71. For directions and other information see: www.kasteeldiependael.be
Seminar Topic:
"Regulation: What are the Key Current Issues for Belgium Pension Funds and How to Survive Them?"
This seminar will explore some of the key regulatory changes including the Minimum Funding Requirement and the Statement of Investment Principles, how pension funds can cope with these and other regulations and what the future holds.
It is now clear that Belgium Pension Funds will need to comply with the Minimum Funding Requirement which basically requires that the Minimum Funding calculation needs to be based on a qualitative method where the principle to follow is prudence (in the way the calculations are done and in the assumptions/parameters setting) and that the control authorities need to give further guidance.
Discussions are being held at the moment between the Belgian Control Authorities and the Belgian Pension Fund industry to try to have a clearer view on what the Control Authorities require and what they will reject. What are likely to be the final requirements? What will change from current practise as a result? How and when will it be implemented?
In addition, now that it is mandatory, what can and should Belgium Pension Funds do to implement the Statement of Investment Principles? In the UK, the Statement of Investment Principles has been mandatory for over ten years. What has been the experience in that market? How much needs to be said? Should there be different approaches for large and small Schemes?
Belgian Pension Funds are governed by a seemingly endless stream of domestic, European and International regulations. These regulations can lead to complexity, cost and confusion. How can pension funds cope going forward? What are the costs in terms of time and money? Will smaller schemes be able to cope over the long-term? What additional regulatory changes are in the pipeline? The speakers will discuss these and other issues.
Overview of the Issues: Johan Heymans, Director, Watson Wyatt
Case Study from the UK: David Bennett-Rees, Trustee, SAUL Trustee Company (The Superannuation Arrangements of the University of London)
The Current Belgium Regulatory Environment: Filip Gijsel, Deputy Director and Johanna Secq, Actuary, CBFA (Banking, Finance & Insurance Commission)
Hervé Noël, Head of Department Employee Benefits Suez Group, Suez-Tractebel SA and a member of the Belgium Section’s Advisory Committee will chair the meeting and lead the subsequent discussion.
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