ITALY - Lamberto Dini, the author of the 1995 Italian pension reform, has slammed a government proposal to transfer employees' final indemnity payments to the national institute of social welfare (INPS).
In discussing the pension reform the government revealed intentions to transfer the workers' final indemnity payments - the Trattamento Fine Rapporto (TFR) to the INPS.
This proposal was shot down by Dini and by the Italian workers' union - UIL.
"INPS should never lay its hands on the TFR. It is a duty it never had and things should remain this way. This is because it would not be able to manage the funds appropriately," said Dini in an interview.
The suggestion would throw away 10 years' worth of work on the launch of complementary pension sector, said UIL confederal secretary Domenico Proietti.
He stressed solving the issue of a guarantee fund and finalise the path to the concrete launch of the sector was definitely more important.
RPMI Railpen is in the next step in the journey towards achieving cost disclosure. Victoria Bell tells Stephanie Baxter about taking part in the Cost Transparency Initiative's pilot phase
Interserve's numerous defined benefit (DB) schemes have retained a sponsor link after the company entered into administration and was sold.
Chris Hannon has been named chairman of the Railways Pensions Trustee Company after a unanimous vote of approval from its board last week.
PP speaks to BESTrustees director Heather McGuire about her views on the CMA's review into the investment consultant and fiduciary management markets.