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Alfi supports Europe-wide certified pensions

The Association of the Luxembourg Fund Industry has said it will support the creation of OCERPs.


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.”

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