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ABI welcomes EC decision on occupational pension funds

The European Commission has announced that in the autumn of 2013, it will bring forward a proposal for a directive to improve the governance and transparency of occupational pension funds.

Internal Market and Services Commissioner Michel Barnier cites that further technical information is needed before any decisions can be made on the solvency of pension funds.

Yvonne Braun, Head of Savings, Retirement and Social Care comments:

"The ABI welcomes the Commission’s decision not to bring forward proposals for capital requirements on occupational pension funds at this time.

"This is the right call – imposing the changes has been estimated to cost UK businesses £350 billion at a time when the economic outlook is still uncertain. We look forward to working with the Commission on its proposal on governance and transparency."

Last updated 01/07/2016