EUROPE - The French Asset Management Association (AFG - Association Français de la Gestion Financière) and the Association of British Insurers (ABI) will join the European Federation for Retirement Provision as full members on January 1.
The EFRP said the decision was made at its general assembly in Amsterdam yesterday. ABP’s Jaap Maassen (pictured) was elected new chair of the EFRP at the meeting, replacing Alan Pickering.
“The EFRP is very satisfied with this development in two of the major Member States of the EU that can be nothing else than beneficial for the further development of the EFRP as the EU level organisation representing pension institutions that are responsible for occupational and supplementary pension provision,” the EFRP said in a release.
The new French retirement savings law, which came into effect on August 21 last year and allows the Members of AFG to provide employee supplementary pension schemes, was behind AFG’s decision to join, the EFRP noted.
The development of ABI’s relationship with the EFRP in recent years led the UK trade organisation for life and non-life insurers to apply for membership, it added.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.