German financial giant Allianz is in the process of establishing two new companies focusing on pensions.
The companies are Allianz Dresdner Pension Consult GmbH - aimed at expected demand in corporate pension provision - and Allianz Dresdner Pensionfonds AG - a pension fund product intended for corporate clients.
It is understood that personnel decisions and the legal framework are yet to be finalised.
The moves - the first of their kind in Germany - anticipate the introduction of German pensions reform in 2002.
By Madhu Kalia
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.