Barnier moves to allay pension plan fears

Article reported that Michel Barnier, Europe’s Internal Market Commissioner gave a speech on the 1 March 2012 that would said that strict new capital requirements for insurers would not be flatly applied to all pension schemes, as he attempted to contain alarm over a planned shake-up of retirement plan rules.

The European Commission was working on a revision of the occupational pension funds directive.

European Commission: RAPID: SPEECH/12/141: Michel Barnier, Member of the European Commission, responsible for Internal Market and Services Towards a real single market for occupational pensions offering greater choice and better protection for pensioners Public hearing on the revision of the Directive on occupational pensions Public hearing on the revision of the Directive on occupational pensions Brussels, 1st March 2012 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/12/141&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: Business, Economy, Euro: Banking and finance: Insurance and Pensions http://ec.europa.eu/internal_market/pensions/index_en.htm

ESO: Background information: Pension reform threat to funds http://www.europeansources.info/record/pension-reform-threat-to-funds/

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