The Actuarial Association of Europe (“AAE”) published its discussion paper “Clarity before Solvency” on the application of market consistency to pension funds in Europe. |
With this paper the AAE intends to discuss from an independent and actuarial point of view some technical issues with regard to the application of a 'market consistent' framework to pension funds. The AAE wants to highlight some important elements of the discussion on the quantitative elements of the IORP review. In doing this the AAE hopes to provide insights that can be used to bridge the different views that have been recently expressed within the broader debate.
Falco Valkenburg, chairperson of the Pensions Committee of the AAE, stated:
“When developing a financial framework for IORPs an important priority is to protect the interests of all stakeholders: scheme members, beneficiaries and sponsors. Therefore this discussion paper has a direct connection with consumer protection.”
Michael Renz, chairperson of the AAE, stated:
“The AAE will continue to work with the European Commission, the European Parliament and other stakeholders on further development of methods and approaches to quantify pensions and assess the financial risks.”
To view the paper please click on the link link below
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