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EFRP launches new committees focusing on DB, DC issues

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  • EFRP launches new committees focusing on DB, DC issues

EUROPE – The European Federation for Retirement Provision (EFRP) will select a chair for its newly launched defined benefit (DB) committee at its next board meeting, while Jerry Moriarty, current chief executive and director of policy at the Irish Association of Pension Funds, has been appointed chair of the defined contribution (DC) group.

Meeting in Dublin earlier this week for its general assembly meeting, the board of directors agreed to launch two new committees, focusing on DB and DC issues, respectively.

EFRP secretary general Matti Leppälä told IPE the committees would meet regularly and help the board to set policy. 

"Over the recent years," he said, "the pensions landscape has gone through a big change, and we try to reflect on these changes, while trying to anticipate the future of pensions.

"At some point, however, we perceived ourselves as putting too much focus on DB plans.

"The launch of these two new committees, therefore, aims to defend defined contribution issues on an equal basis as defined benefit issues."

Leppälä said the chair of the new DB committee would probably be selected at the beginning of next year at the EFRP's next board meeting.

"There are members of the board showing interest in the position, but I cannot say at this stage who will be appointed," he said.

The chairs of the two committees will be appointed for two years, with the option for one renewal.

Yesterday, the Brussels-based federation also confirmed the election of Joanne Segars, chief executive at the UK National Association of Pension Funds (NAPF), as its new chair, replacing Patrick Burke.

Additionally, the EFRP, which currently has 22 members, is set to change its name to PensionsEurope at the European Pension Funds Congress in Frankfurt next week.

"The new brand is easier, more inclusive and more open to different types of pension," Leppälä said. "It also gives a much more consistent approach with what insurers are doing."

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