Pensions consultation launched

Government has launched the consultation period for the EU Occupational
Pensions Directive which will put in place a common framework for schemes
around Europe.

directive supports the Government’s plans for reform of the UK pensions system
and will build on last year’s Green Paper and subsequent Action on Occupational

directive applies only to funded occupational pension schemes and does not
cover state schemes or personal pensions.

features of the directive include:

Recognising the diversity of national pension systems

Establishing the ‘prudent person’ principle in the management of pension
schemes in the EU

Establishing a common framework for pensions schemes to operate cross- border

Delivering liberalisation of investment rules currently applied by some Member

Establishing common funding principles for schemes

Setting out the minimum powers that every member state must give its regulator

By Ross Wigham

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