European Commission

Pension schemes could be forced to pay a levy if proposals are adopted to radically change the funding of the European Insurance and Occupational Pensions Authority (EIOPA).

The European Commission has published proposals to overhaul its pension directive, which is intended "improve governance, transparency and cross-border activity".

This week, buzz respondents gave qualified support to the Pension Protection Fund's (PPF) levy estimate.

Almost seven out of 10 contributors think the European Commission should rule out adding any solvency requirements to its overhauled pensions directive.

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Buzz respondents were not in any way convinced that solvency requirements from Europe are dead and buried; just under 60% thought the requirements will be back in one form or another.

The European Commission (EC) has dropped plans to include solvency requirements in an overhauled pensions directive to be presented this autumn.

The European Insurance and Occupational Pensions Authority (EIOPA) has opened a consultation on how to create a single market for personal pension products.

Pensions minister Steve Webb has urged the European Commission to scrap its Solvency II-style proposals for pensions after official figures estimated they would cost UK schemes £450bn.

Jack Jones looks at the response the European Commission’s green paper on financing growth