CBI

UK - European Commission proposals for an adjusted version of Solvency II standards for pension schemes could cost Britain £500bn if they are implemented, the Confederation for British Industry has warned.

The European Commission has launched a Green Paper reopening the issue of solvency standards in pension schemes.

EUROPE - The European Commission has launched a Green Paper reopening the issue of solvency standards in pension schemes.

EUROPE - European Commission Green Paper proposals for an adjusted version of Solvency II standards for pension schemes could force firms to hold huge unnecessary surpluses, the Confederation for British Industry said.

The pensions industry is set to revolt over EU attempts to reignite the issue of solvency standards in pension schemes.

The industry has unanimously backed George Osborne's emergency Budget promise to investigate alternatives to the introduction of pension tax relief restrictions for high earners.

The coalition government should shift the burden of public sector pension contributions from the state to employees in the June 22 emergency budget, an independent policy think-tank says.

UK/EUROPE - The sovereignty of UK defined benefit provision is under threat following proposals from the EU Commission to shift legislative power to a European body, an internal Confederation of British Industry document revealed.

The sovereignty of UK defined benefit provision is under threat following proposals from the EU Commission to shift legislative power to a European body, an internal Confederation of British Industry document reveals.

Government proposals to scrap the default retirement age will damage businesses and lead to a surge in costly employment tribunals, the Confederation of British Industry warns.