Revue Banque and Bankers Markets and Investors (BMI) co-hosted a one-day seminar on managing pension funds in Paris on October 24, 2014. The Foundation contributed by shedding light on demographic issues and the outlook for longevity developments in Europe.
Representatives of pension funds, retirement institutions, insurance and asset management companies, academics, pension fund administration and public sector officials, members of international organizations, regulators.
This pension workshop investigated new issues about pension management in France under the new European directives (EIOPA).
Pension Funds and retirement institutions have faced new risks and challenges related to the rapid increase in life expectancy, financial crises and the lack of trust in financial institutions. Many European countries have seen significant reforms of their pension system, increasing the retirement age, creating reserve funds, introducing supplementary funded schemes and relaxing the guarantees provided to beneficiaries.
Moreover, the regulation of pension-providing institutions is evolving. The Solvency II regulatory framework was finalized and applied in January 2016 for all European insurance companies.
The objective of this workshop was to understand the implications of new European regulation for French pension providers (insurance companies, pension funds, health insurance schemes, etc.) and the particular challenges for the French pension industry.
The workshop discussed the following:
- The French pension system and the new European regulatory framework for pension provisions
- How are European countries reforming their pension systems? Designing new retirement products and adequate regulation
- Managing assets for long-run pensions under regulatory constraints
- Reporting and communicating to beneficiaries
- The challenge of harmonizing the regulation of pension funds with insurance companies and banks in Europe