Brussels, 23/05/2013 (Agence Europe) - In the autumn of 2013, the European Commission is planning to unveil a draft directive on occupational pensions schemes. The main problem these days is the solvency of the second pillar of pension systems, but the Commission is not planning to cover this politically sensitive issue in the new rules.
The Commission does not want to address the question of the solvency of pension systems because it wants to reach consensus rapidly, explained EU Internal Market and Services Commissioner Michel Barnier on Thursday 23 May. He said he had decided, as an initial step, to unveil draft legislation focussing on governance, transparency and reporting requirements for occupational pension schemes, adding that there was broad consensus on these issues, on paper at least. The Commission will suggest changes to governance systems, introducing minimum requirements for pension fund managers, and surveillance and supervision systems, clarifying the powers of the supervisory body in the country of origin and the host country. (JK/transl.fl)