03.08.2012

Supporting Long-term Investing and Retirement Savings

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Task Forces

CEPS and ECMI wish to engage market participants, together with international experts, academics and regulators, in a discussion on long-term investing and long-term saving products, including private retirement savings. The purpose of this Task Force is to bring together a diverse group of stakeholders and deliver a list of policy recommendations to strengthen both (a) the single market for long-term savings, including private retirement savings, and (b) long-term investing in Europe, given its role in promoting growth and ensuring the provision of adequate retirement income.

The debate on these issues is gathering momentum prompted by the need to stimulate capital markets as a driver for growth in Europe, while strengthening the economic and social coordination of its member states. This Task Force comes at an opportune time, given the upcoming Green Paper on long-term investing and following the release of a White Paper on pensions earlier in 2012. One of the initiatives announced is the revision of the Directive on occupational pensions (IORP Directive). It also comes at the right moment to take stock of the impact of Solvency II and other prudential rules on the ability of institutional investors to invest long-term but early enough to inform the process of implementation and phasing-in of these rules. In addition, the Task Force will feed into the legislative processes related to the Single Market Act and investor protection.

The ability of retail and institutional investors to access long-term investment opportunities is crucial to foster much-needed growth and competitiveness in Europe, as well as to provide for adequate, safe and sustainable pensions for its citizens. This Task Force will contribute to this debate by following a holistic approach and putting forward practical policy recommendations.

Chair

  • Allan Polack, CEO of Nordea Asset Management

Rapporteurs

  • Mirzha De Manuel Aramendía, Research Fellow, CEPS-ECMI
  • Karel Lannoo, CEO and Senior Research Fellow, CEPS-ECMI

Click here to download the Task Force Prospectus, with full information, including a detailed agenda.

Final Report of the Task Force: 'Saving for Retirement and Investing for Growth'

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