CEIOPS publishes advice on occupational pensions
CEIOPS has released its advice to Commissioner McCreevy on stakeholder issues in the European occupational pensions industry
FRANKFURT – The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published solvency proposals for the European occupational pensions sector, for debate on for discussion as part of the European Commission’s planned Solvency II regulation.
The advice paper, “Key issues on solvency for the European occupational pension sector”, was produced at the request of European internal market commissioner Charlie McCreevy, and is designed to identify issues for stakeholder consultation on prudential standards for the industry.
McCreevy, in a letter to CEIOPS dated May 14, said: “It would be particularly important to hear from shareholders whether they believe that, from an internal market perspective, a harmonised solvency regime for occupational pension funds covered by the directive on institutions for occupational retirement provision is desirable or not, and what the reasons are for expressing that view.”
The paper includes proposals for principles and targets for supervisory regimes for pension funds, the breadth of solvency rules for pension funds and cross-border activity, specific issues on the calculation of technical provisions, and security mechanisms and their interactions.
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