10/6/2009
By Sophie Baker
The Committee of European Insurance and Occupational Pension Supervisors' (CEIOPS) annual report shows its continued support for the development of cost effective multi-country pension funds, says Watson Wyatt.
CEIOPS said that it will later this year publish a further update on the development of cross-border pensions, and will produce a follow-up report on key aspects of implementation of the Pensions Directive, building on its April 2008 report.
The European body of supervisory authorities has promised this follow-up will focus on further analysis and clarification in a number of areas relevant to cross-border pension funds.
Senior consultant at Watson Wyatt, Mark Dowsey, said this is evidence of CEIOPS' determination to support the development of cost-effective multi-country pension funds. "The consultation on measures to improve cooperation between the supervisory authorities of member states closes next Monday and is the latest in a series of measures to help identify and then tackle some of the obstacles to efficient cross-border pension provision. The annual report indicates that CEIOPS will not rest there, although quite what will or will not be placed in the public domain remains to be seen."
