Time for action

Aaron Woolner

The impact of the financial crisis on pension provision globally cannot be overstated. From outright theft of private pension assets in that perennial economic basket case Argentina to the more subtle moves by former Eastern Bloc states such as Estonia and Romania to bring second-pillar pension contributions into the first pillar, the temptation for governments to plunder savings in a bid to prop up their economies has been overwhelming (A race against the future).

The moves by the likes of Esto