Leonardo sforza

343 views
297 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
343
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Leonardo sforza

  1. 1. From Legislative Change to Business Practice: What Companies Can Gain Leonardo Sforza, Head Research Europe and EU Affairs, Aon Hewitt
  2. 2. Growing Interest in EU Pension Fund Vehicle The Way to Actionable Reforms Sources: *Aon Hewitt survey for the EC, 2010 <ul><li>1/2 Companies Provide Occupational Pension* </li></ul><ul><li>8/10 Consider Cross Border Arrangements Relevant and Valuable </li></ul><ul><li>9/10 Ready to Expand Pension …Only If Right Incentives in Place </li></ul><ul><li>EU Pension Fund Directive (IORP) Right Legal Vehicle </li></ul>
  3. 3. A Pan-European Legal Framework for Pension Funds <ul><li>Pension Fund Rules </li></ul><ul><ul><li>EU Common Goals/Principles </li></ul></ul><ul><ul><li>Country Specific Implementation </li></ul></ul><ul><ul><li>Non Discriminatory Tax Treatment </li></ul></ul><ul><li>Pension Plan Rules </li></ul><ul><ul><li>Local Labour and Social Rules </li></ul></ul><ul><ul><li>National Tax Regime </li></ul></ul>
  4. 4. How the EU Pension Fund Works ? <ul><li>Freedom of Choice of Location and Of Service Providers </li></ul><ul><li>One Single Fund Covering Multiple Pension Plans </li></ul><ul><li>Pooling of Assets and Liabilities </li></ul><ul><li>One Investment Policy </li></ul><ul><li>One Supervisory Authority </li></ul><ul><li>Possibility to Set Common ‘Floor of Rights’ </li></ul>
  5. 5. <ul><li>Cost Savings and More Effective Financial Management </li></ul><ul><li>Simplified Compliance, Improved Risk Management and Governance </li></ul><ul><li>More Coherent and Consistent Administration </li></ul><ul><li>Re-alignment of Pension Policy to Corporate Strategy </li></ul><ul><li>Positive Employer Branding </li></ul>Why Companies Are Doing It and What They Gain ?
  6. 6. Benchmark Analysis of « Home » Country Location Belgium (OFP) +++ <ul><li>Nature and Scope of National Rules </li></ul><ul><li>Governance </li></ul><ul><li>Funding Requirements </li></ul><ul><li>Cross-Border Considerations </li></ul><ul><li>Tax Framework </li></ul>Sources: Feasibility Study for Creating an EU Pension Fund for Researcher, Prepared by Hewitt for the EC, June 2010 Legal Framework Stability Transparency, Experience and Accessibility of Supervisory Authorities Also Matter

×