Press Release: Brussels’ ‘wrongheaded’ pension plans would have ‘devastating’ impact

The UK Pensions Minister, Steve Webb, on 20 November 2012, slammed the EU's plans to use a Solvency II-style basis to measure pension liabilities and said that the cost to companies and the economy could run into hundreds of billions of pounds. In a speech to the European Retirement Federation in Frankfurt, the Minister referred to new calculations carried out for the UK Government by pension experts the Pensions Regulator. (Please click on Related Url).

• Primary Source

UK: The Pensions Regulator: UK impact assessment (on the potential effect of the European Commission’s review of the IORP Directive) http://statistics.dwp.gov.uk/asd/asd1/adhoc_analysis/2012/TPR_DM_n2273235_vR_UK_Impact_Assessment_Updated.pdf

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