CEEMET welcomes Commissioner Barnier’s decision not to include solvency rules for occupational pension funds in its upcoming legislative proposal

Date

24 May 2013

Sections

EU Priorities 2020
Social Europe & Jobs

“We welcome the decision Commissioner Barnier has taken, not to include solvency rules for occupational pension funds”, commented CEEMET Director General, Uwe Combüchen. “Our members have been concerned about the plan to extend the own-funds requirements to occupational pension funds since it would have considerably increased the costs of occupational pension provision schemes and in the worst case closed them down. Weakening of companies’ capacity to invest and innovate is hence avoided and workers’ occupational pensions are, in line with the objectives of the White Paper on pensions, not affected’, he concluded.

Internal Market and Services Commissioner Barnier has today stated that he intends to present a proposal to improve the governance and transparency of occupational pension funds in the autumn. However, he also stated that the proposal will not cover the issue of solvency rules for pension funds, which will for the time being remain an open issue since more technical information is needed.

Please click HERE  to view CEEMET’s position on the topic published together with IndustriAll and the European Chemical Employers Group.

 

Karoliina Rasi-Hedberg

Senior Public Affairs Advisor

CEEMETCouncil of European Employers of Metal, Engineering and Technology-based Industries

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