GERMANY- Global money managers are bullish on Germany's pension prospects, estimating it will be a hundred billion dollar market in the next few years.
Industry experts at Morgan Stanley place early indicators of the German market at around $430bn by 2010, although valuations are more conservative than other reported figures which place market potential somewhere between $614bn and $880bn.
Last year the the German parliament gave the green light to landmark pension reforms, paving the way for reform of the country’s beleaguered social security system and the introduction new private arrangements, or Pensionfonds.
According to Gareth Derbyshire, executive director of Morgan Stanley’s European pensions group, there is plenty of scope in the German market, although the progress of reform is slow and is further hindered by sluggish performance in equity markets.
By Madhu Kalia
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point