NAPF welcomes European Parliament's note of caution on EC Green Paper

17 February 2011

Joanne Segars said: “The last thing we need is to make pensions more expensive by introducing new rules based on the Solvency II regime. Such rules would work against what the European Commission is trying to achieve and would be damaging to pensions and individuals’ retirement incomes.”

Commenting on the European Parliament’s vote today on the EC Green Paper on pensions, Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), said: “We welcome the European Parliament’s view that any new EU-level protection regime for pensions must be tailored to the distinctive, long-term nature of pensions. British MEPs have removed some of the more damaging conclusions from earlier versions of the Parliament’s report. But the debate about EU action on pensions will continue. We now wait to see how the European Commission will take its proposals forwards. They must take careful note of the Parliament’s report.”

Press release 

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