IAPF representative: Patrick Burke

The IAPF represents your interests at European level through its membership of the European Federation for Retirement Provision (EFRP). IAPF has recently set up an International Sub Committee to promote the interest of workplace pension schemes in Ireland, regarding issues that arise from an international perspective. Maurice Whyms is the chair. For more details on this committee, Click here.

Established in 1981, the EFRP comprises the national bodies which represent the interests of supplementary pension schemes in each European Union (EU) and EEA Member States. The EFRP is a Brussels-based umbrella organisation of European pension associations and is headed by a Permanent Representative, Ms Chris Verhaegen. The EFRP also set up a Supporters' Circle for those companies or pension institutes wishing to promote the pension fund interests and to be kept directly informed on European
Union developments regarding supplementary pensions.

A general assembly of the EFRP is held every six months, hosted by one of the member associations. The represtentatives of each country report upon changes which have occurred in the field of pensions legislation and practice since the previous meeting. The meeting also serves as a forum for the discussion of new Directives and other initiatives affecting pension arrangements which have been produced by the European
Commission to plan arrangement s to lobby the European pension fund movement.
The EFRP Board of Directors meet about every 2 months.

EFRP MEMBERS

EFRP members are spread over 20 EU-Member States and 4 non-EU Member States (Croatia, Iceland, Norway and Switzerland). Generally speaking , EFRP members are non-profit institutions. EFRP members provide for the financing of the private occupational pension of 83 million EU citizens. In some EU Member States, The EFRP members cover 80% of the membership of occupational schemes in that country (D, E,
F, IRL, NL, UK). In Sweden this coverage even amounts to 90-95%. The EFRP represents pension funds that have responsibility for the investment of approximately €2,450 bn. for future retirement income (2002 figure).
The EFRP has been working tirelessly to develop more harmonisation of pension systems across Europe. The challenge is to ensure that the development of a harmonised approach across Europe is generally consistent with Ireland's own principles and pension practices.

EU PENSION DIRECTIVE & IRELAND

The European Commission continues to pursue the aim of creating a single market for pensions in Europe. The latest Directive, IORP (also known as the EU Pensions Directive) is the single most important European directive to affect pensions and 2005 is a critical year as all Member States are required to have it implemented in September 2005.

The IAPF produced a detailed submission regarding its implementation to the Pensions Board - See the associated files below. This Directive is expected to be included in the Social Welfare Act 2005.

Secretary General: Chris Verhaegen
Details secretariat and office
Koningsstraat 97 rue Royale
B - 1000 Brussels
Belgium
Tel: +32 (0) 2-289 14 14
Fax: +32 (0) 2 -289 14 15
E-mail: efrp@efrp.org
Website: www.efrp.org