ITALY - An Italian pension scheme covering pilots and airline technicians has launched a search for a financial institution to offer life annuities products for its members.
The €180m (£122m) Previvolo defined contribution (DC) scheme, which includes employees of Alitalia and its subsidiary Alitalia Express among its members, was launched in 2000.
Since October 2004, it has run four different portfolios to cater for different risk tolerances.
Until now, the fund has not required a partner to undertake life annuities for the members because they were allowed to claim pensions after at least ten years of membership.
In February 2007, Global Pensions reported comments by Bank of Italy governor Mario Draghi in which he said the underdeveloped pension fund industry in Italy was impeding the financial system's growth and preventing the restructuring of a productive economy.
Draghi explained how pension funds in other countries had helped ensure the efficiency and liquidity of the financial markets.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.