EUROPE - The European Federation of Retirement Provision (EFRP) has appointed Patrick Burke as its new chairman.
The appointment was approved at a general assembly in Rome on 8 November.
Burke (pictured), director of Irish Life Investment Managers in London, was previously second vice-chairman of the EFRP. He replaces Angel Martinez-Aldama, who has now become second vice chairman. Christian Bohm remains first vice chairman.
The position can be voted on every year, and Martinez-Aldama served for three years, said EFRP secretary general Chris Verhaegen. "Three years is considered a nice, long mandate. There is a tradition of rotation," she said.
The EFRP represents pension associations in countries around Europe and sits on various European Union Commission advisory bodies including the Pensions Forum.
Burke said: "The EFRP has been very effective in helping to promote work-related pensions that are adequate, secure, affordable and sustainable and we are proud of what we have achieved over the last number of years. Many strategic challenges lie ahead, not least of which include the Green Paper, but I am sure the EFRP will once again show that it can deliver solutions to difficult questions.
"Of equal significance is the risk within the EU that countries in the process of reforming their pensions systems are disadvantaged from a Growth and Stability perspective; and, that others may turn to short term pension tactics, in order to satisfy current account budgetary demands, without recognising the unsustainable long term liabilities thus created."
Meanwhile, Charles Muller, deputy director general of the Association of the Luxembourg Fund Industry, was also appointed to the board.
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