28/09/2010 Author: Kapila Gohel

Alfi supports Ucits-backed European retirement plans

The Association of the Luxembourg Fund Industry (Alfi) is supporting plans for European authorities to create personal retirement plans, backed by Ucits, with consistent certification standards across the continent. 

The Officially Certified European Retirement Plan (OCERP) has been proposed by the European Commission, which believes that the recent financial and economic crisis was a wake-up call for pensions struggling to deliver on their promises. 

Ucits funds can already be used as “content” for pension-fund or life-insurance wrappers, or as pension products in their own right. 

“The example of Ucits shows that, with will and perseverance, the EU can be a world leader in providing investors with high-quality, safe solutions to their savings needs. Investment funds are a key tool to address the pension challenge, given their ability to deliver long-term performance that preserves the real value of individuals’ retirement savings,” said Alfi chairman Claude Kremer. 

The European Commission is inviting contributions on the OCERP from all interested parties by 15 November this year.

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