Matti Leppäla, chief executive at PensionsEurope, said multinationals were an important part of the debate around pensions, confronted as they are by capital, reporting and governance requirements set under the revised IORP Directive, and the shift from defined benefit (DB) to defined contribution (DC).
Leppäla said PensionsEurope wanted to be "fully aware" of multinationals' issues and the problems they faced as early as possible and on a wide variety of topics. "This group will enable multinationals to have a place within PensionsEurope with the view to discussing these issues on a regular basis", he said.
While Leppäla stressed that all the policy decisions would remain within PensionsEurope and its members, the advice received from multinationals would be "highly valued". So far, five multinational pensions funds including Shell have joined the advisory group, which will be based in Paris.
Under the agreement set with PensionsEurope, the group will meet twice a year. One meeting will be in connection with the JP Morgan Pension Forum that takes place every year in Paris, while PensionsEurope will organise the other this spring.
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