I have a basic maya question actually.

In the picture below, see how the body and arms are rotated, but the translation axis(or should I call it pivot?) of the arm IKHandle still points to the initial X-Z axis? Is there a way to change that so that it will always point in the direction the arm has been rotated?
Does that have anything to do with the pivot being in Local Space or World Space?

Hope that made some sense.