Pension funds should not face the ‘exact same rules' as insurance companies under Solvency II but must be open to change, European Commissioner Michel Barnier says.
At a Brussels summit on the IORP directive, the commissioner dismissed claims Solvency II will cost businesses €800bn (£668bn) and bring about the demise of defined benefit provision. He said: "...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
