06 February 2001

Commissioner Bolkestein announced Communication on Pension Fund Directive

The Proposal on the Pension Fund Directive was subject to criticism by industry at the hearing on 6 February in the European Parliament, with pension funds arguing that it would be counterproductive to impose requirements on pension funds similar to those which currently apply to insurance companies. They believe that the provision of pensions by pension funds must be distinguished from pension provision by insurance companies on the basis that the former are non-profit organisations which do not hold out a financial product to the public.

Internal Market Commissioner Frits Bolkestein announced, that the Commission intends to release a Communication on the tax obstacles to the cross-border provision of occupational pensions in March.

© European Commission