Abstract
For years, multinational companies have complained about the fact that they must establish separate pension schemes in each European Union country in which they operate. Significant progress has been made in recent months with respect to pan-European pensions. On September 23, 2003, the European Commission finalized the Pension Fund Directive and took a major step toward the creation of an internal market in Europe for occupational pensions. The Directive will apply to all existing and future pension schemes, with limited exceptions, within member states as well as to pan-European schemes. All member states have less than two years to implement provisions of the Directive. The new European market will offer enormous opportunities to businesses that are prepared for the changes ahead. This article provides a preview of what businesses should be doing now to prepare to reap the benefits.
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