Speaking at the Alfi Global Investment Funds Forum in Luxembourg in Tuesday, Alfi chairman Claude Kremer said the association would fully support the plans which were outlined in July in a Green Paper issued by the European Commission entitled “Towards adequate, sustainable and safe European pension systems”.
The paper said the financial and economic crisis had acted as a “wake-up call for all pensions” and invited contributions on how to tackle risks to pensions from all interested parties by 15 November this year.
Prior to the publication of the paper, a think-tank report commission by EFAMA and submitted to European authorities called for the introduction of OCERPs, with consistent standards across Europe. Alfi, as a member of EFAMA, said it “naturally supports” the conclusions of the report and recommends backing the plans with Ucits funds.
“The creation of a pan-European retirement plan is an ambitious goal,” said Kremer. “But the example of Ucits shows that, with will and perseverance, the EU can be a world leader in providing investors with high-quality, safe solutions to their savings needs. Investment funds are a key tool to address the pension challenge, given their ability to deliver long-term performance that preserves the real value of individuals’ retirement savings.”
