The 2018 edition of the annual event of the Cross Border Benefits Alliance-Europe (CBBA-Europe) will deal with both pensions (November 27) and healthcare (November 28 in the morning) at cross-border and pan-European level. High-level speakers including representatives of the European Parliament, European Commission, multinational companies, social partners, pension funds, insurance companies, national and international trade associations and academic experts will discuss these topics, against a backdrop of the most
It’s a globalized world, and corporations are increasingly multinational, with multiple locations and evermore mobile employees. As pension burdens increasingly weigh on public finances, retirement is not only the responsibility of the state, but also of employers. The time has come for a more global HR policy on pensions. Due to their diversity and complexity, pension schemes often have been set up locally, without neither a common benefits policy at the group level nor efficient monitoring and cost control by the parent company. This approach, while practical, is not without risks: counterparty risk in case of default by a service provider; reputational risk if the pensions paid out are insufficient; and above all, financial risk if the company must compensate for the inadequacies of local schemes. The transfer of Defined Benefits to Defined Contributions reduces the financial commitment burden on companies. Unmonitored DC plans in countries where regulations provide for guaranteed returns (such as the Netherlands, Belgium, and Germany) can transform DC schemes into a new form of DB, as guaranteed rates often remain the responsibility of the sponsor company.
It’s a globalized world, and corporations are increasingly multinational, with multiple locations and ever-more-mobile employees. As pension burdens increasingly weigh on public finances, retirement is not only the responsibility of the state, but also of employers. The time has come for a more global HR policy on pensions.
The conference on pan-European pension plans organized by asset manager Amundi and insurer LaLux on 5 February 2018 in Luxembourg announced its final agenda. Introduction by Claudia Chalmes-Coumont, LaLux Vie, Director Keynote speaker, H.E. Mr Pierre Gramegna, Luxembourg Ministry of Finance 2017 Annual Pension Survey, key findings, by Prof. Amin Rajan, CEO Create Research Panel on the Pan-European Pensions Regulatory framework – where do we stand? Panel moderator: Sophie
As the growth of pan-European pension plans is reported to accelerate, asset manager Amundi and insurer LaLux jointly organize a topical half-day conference on 5 February 2018 in Luxembourg. Featured speakers include: Luxembourg Minister of Finance, Pierre Gramegna European Commission head of the insurance and pensions unit, Nathalie Berger PensionsEurope CEO, Matti Leppala EIOPA Executive Director, Fausto Parente Create Research CEO, Prof. Amin Rajan Group head of compensation &
Advocacy organization Cross Border Benefits Alliance-Europe (CBBA-Europe) will hold its inaugural conference to a packed audience on 6 December, 2017 in Brussels, Belgium. Over 100 delegates have registered and the conference no longer accepts applications to attend, due to space restrictions. Focusing on ‘Cross-border and pan-European Pensions, and Why CBBA Supports Them’, the inaugural event is supported by the likes of Mercer, Zurich, Generali’s GEB, Amundi, and Previnet. As
Advocacy organization Cross Border Benefits Alliance-Europe (CBBA-Europe) will hold its inaugural conference on 6 December, 2017 in Brussels, Belgium. CBBA-Europe’s purpose is to promote cross-border and pan-European employee benefit plans in Europe. The two keynote speakers are former Obama Administration’s Assistant Secretary for Employee Benefits Security of the US Department of Labor, Phyllis Borzi, and Chairman of the European Insurance and Occupational Pensions Authority (EIOPA), Gabriel Bernardino. Attendance is
Recently launched advocacy organization Cross Border Benefits Alliance-Europe (CBBA-Europe) in August 2017 announced plans to hold its inaugural conference in November or in December, 2017. CBBA-Europe’s purpose is to promote cross-border and pan-European employee benefit plans in Europe. To join the Alliance or for more information about the upcoming conference, contact CBBA-Europe’s Secretary General, Francesco Briganti. Phone +32 2 401 87 92, email firstname.lastname@example.org
Advocacy organization Cross Border Benefits Alliance-Europe (CBBA-Europe) in July 2017 was launched to promote cross-border/pan-European employee benefit plans in Europe, including pensions, healthcare, disability, long-term care, and well-being/wellness programs. The Alliance “is strongly convinced that the current national barriers to the creation of cross-border employee benefits represent a useless burden and foolish costs for sponsor companies and future beneficiaries”. CBBA-Europe will lobby E.U. institutions and member states to remove
In a long overdue move, the European Commission in June 2017 unveiled a proposal for a pan-European personal pensions product (PEPP). PEPPs are designed to complement – not replace or harmonize – existing state-based occupational and national personal pensions throughout the European Union. The PEPP forms part of the Commission’s plan to build a Capital Markets Union (CMU), wherein the Commission believes the new pension product will help to
Zurich Eurolife in June 2017 announced the acquisition of an existing book of international pension plans from AG2R La Mondiale’s (AG2R) Luxembourg-based subsidiary La Mondiale Europartner. The transaction is expected to close during the second half of 2017, after regulatory approval. The new agreement with La Mondiale Europartner will see their existing customers transfer to Zurich’s international pension plans. AG2R and Zurich have enjoyed close relationships for many years,
Some ten months after selecting its key service providers, European cross-border pension plan RESAVER is poised to begin operations in March 2017. A brainchild of the European Commission, RESAVER is a pension plan specially designed for highly mobile researchers working at public and private research institutions and universities, SMEs, and research and technical development companies. It is advised by Aon Hewitt; BlackRock won the initial investment management mandate; and
General Electric (GE) in September 2016 has had its European pension fund approved by FSMA, Belgium’s financial supervisory authority and the regulatory body for pension funds. GE is encouraging its existing European-based pension plans to join the fund, which takes the legal form of an Organisme de Financement de Pensions (OFP), Belgium’s IORP-compliant vehicle for pensions provisions. At this early stage, a management committee has been appointed. An IORP
Despite moving at what may seem sometimes as a glacial pace, RESAVER, the pan-European pension plan project, appears to have reached a major milestone. RESAVER, which is set up as a defined contribution (DC) scheme that will provide second-pillar pension benefits, selected its key operational components – namely its third-party service providers – in April 2016, paving the way for its launch. BlackRock has been selected as the asset
Most multinational companies have a single property and casualty insurance policy that covers their factories and offices around the world in case of flood or fire or theft. But when it comes to global employee benefits, many have a different contract—or even many more than one—for each country, through several brokers, and a pooling or captive arrangement to boot.
Mobility of Workers in the EU And Related Impact on Social Rights – Taking a Sector Approach to Pan-European Employee Benefits Plan: A Research-Based Study
Does it still make sense for a multinational company’s employee benefits plan to deal with 28 different social and tax legislations in the EU? Does it make sense for a multinational company to set up as many employee benefits plans as the number of the EU countries in which it operates?