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Passport for pensions
The first moves to create pan-European pension funds were taken by the EU in 2003. Despite the obvious cost savings such an arrangement would provide, not one multi-national has yet set one up. Will 2007 be any different? Aaron Woolner reports
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Moving people, money and businesses across borders has never been easier in the European Union. The most visible aspect of this trend has been the flood of people from northern Europe into Spain, Italy and France, looking to retire to a place in the sun. But while transferring post-retirement assets around Europe is increasingly popular, the same mobility has not yet been achieved in the accumulation phase of pension provision.
Intransigence at a national level has seen the heady ambition of the
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