European Commission

The European Commission is exploring ways in which pension schemes can be encouraged to finance long-term investment in the European economy.

The European Commission has adopted a proposal for a Financial Transaction Tax to be introduced in eleven countries, without an exemption for pension funds.

Government should lift restrictions on the National Employment and Savings Trust's annual contributions and transfer terms "as a matter of urgency", the Work and Pensions Committee has said.

Solvency II-style capital requirements for schemes could cost employers £350bn, cut 180,000 jobs from the economy and reduce the value of pensions warns the Confederation of British Industry.

The European Insurance and Occupational Pensions Authority has launched a consultation on how national regulators submit information to it.

More than £900m bulk annuity transactions were agreed between July and September 2012, bringing total business to £2.5bn in the year so far.

Britain is among eight governments which have signed a letter saying they are "very concerned" that the cost of European Union pensions will rise to £2bn a year by 2045.

The trustees of the National Employment Savings Trust must take legal action against the government's decision not to remove contribution limits to the vehicle, shadow pensions minister Gregg McClymont says.

EU officials were subject to bruising exchanges over the impact of Solvency II on UK pension funds during a work and pensions select committee hearing yesterday.

The European Commission has approved plans for the UK government to take on the liabilities of the Royal Mail Pension Plan.