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International Aspects

International Aspects. Jerry Moriarty CEO Irish Association of Pension Funds 18 th March 2014. Irish Association of Pension Funds. IAPF is a non-profit non-commercial organisation 320 members who: Provide retirement security to over 260,000 employees

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International Aspects

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  1. International Aspects Jerry Moriarty CEO Irish Association of Pension Funds 18th March 2014

  2. Irish Association of Pension Funds • IAPF is a non-profit non-commercial organisation • 320 members who: • Provide retirement security to over 260,000 employees • Pay pensions to nearly 90,000 retired people • Responsible for €90 bn in retirement savings

  3. IAPF • Secure • Fair • Simple Educate – Represent - Inform

  4. International Aspects • Similar trends • Ageing populations • Shift to individualisation • Political “confusion”

  5. Ageing Populations (NL)

  6. Years spent in retirement OECD – Pensions at a Glance 2013

  7. Public Expenditure on Pensions OECD – Pensions at a Glance 2013

  8. Who does well? Melbourne Mercer Global Pension Index 2013

  9. Why? • Organised • Scale • Funded

  10. How to Improve • Reform • Work Longer • Increase Savings • Reduce Benefits

  11. Work Longer Age 69 Denmark, Italy Age 68 Czech Republic, Greece, Ireland, UK Age 67 Australia, Canada, France, Germany, Israel, NL, Norway, Poland, Spain, USA…….

  12. Save More • Mandatory • UK • New Zealand • Australia

  13. Reduce Benefits Everywhere?

  14. Reduce Benefits • Reduced 1st Pillar • Demise of DB Systems • Move to individualisation

  15. Individualisation • DC • Responsibility • Understanding • Trust

  16. Political “Confusion” • We need to encourage more people to save more for retirement • Pension Funds are an attractive source of tax

  17. Political “Confusion” • Reduced Incentives • Levies • “Encouraged” investment • Nationalisation

  18. Political “Confusion”

  19. QUESTIONS Jerry Moriarty CEO – IAPF jerry.moriarty@iapf.ie

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