Asian pensions reform is required

This article appears courtesy of Reactions

Retirement services specialists are missing out on big business opportunities in emerging markets because regulators are dragging their heels, says Norman Sorensen, president of financial services provider Principal Financial Group.

He says the lack of defined contribution pension regulations in countries such as India, China and Malaysia, is frustrating for two reasons. Firstly, it forces companies such as Principal Financial to get their foot in the door through mutual funds and institutional asset management business.