CEA reiterates call for pension funds to fall under Solvency II

16 August 2011

The European Commission is currently reviewing the 2003 Institutions for Occupational Retirement Provision Directive, and the CEA submitted its response to the first consultation by the European Insurance and Occupational Pensions Authority.

The CEA welcomes the use of the new Solvency II regulatory regime for insurers as the benchmark for the governance requirements for IORPs.

"The CEA welcomes EIOPA’s recognition that the new Solvency II regulatory regime for insurers be used as the benchmark for the governance requirements for IORPs", said Michaela Koller, CEA director general. “Occupational pension products should be regulated not on the basis of the legal vehicle through which products are provided, but according to the risks those products present to the provider, members and beneficiaries”, said Koller. “Consistent and appropriate regulation of all occupational pension providers is key to guaranteeing the protection of consumers and the continued viability and stability of the sector.”

Full consultation

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