European Federation for Retirement Provision
The European Federation for Retirement Provision represents the various national associations of pension funds and similar institutions for pension provision. The EFRP has members in most EU Member States. It will enlarge its membership in other new EU Member States as and when representative organisations for occupational pensions emerge.
EFRP membership at large consists of institutions for occupational (2nd pillar) retirement some of them also operating purely individual pension schemes. In some Member States up to 90-95 % of the work force have their occupational pension funded through EFRP membership (e.g., Denmark, Netherlands, Poland, Sweden). Whereas in Germany, Spain, Ireland, the United Kingdom 80 % of the occupational pension provision is funded by EFRP members.
Most EFRP members are non-profit making associations.
Members and beneficiaries are usually represented in their governance structures: many of them are managed on a paritarian basis between unions/employees and employers.
73 million EU citizens are covered for their occupational pension plan by EFRP Member Associations.
The EFRP's aim is to provide Europe with a financing vehicle (pension fund or similar) - not precluding any others catered for by commercial undertakings - that is affordable for large sections of the population and that provides a degree of intra- and inter-generational solidarity. This is feasible if the conditions for investment and the proper prudential framework facilitate this type of collectively organised occupational pension provision.
Through its Member Associations the EFRP represents €3,3 trillion of assets (2004) managed for future occupational pension payments.
To learn more about the EFRP please click here