Hearing on Pension Fund Directive in EP - Contributions of Participants

19 February 2001

-
The Proposal was subject to criticism by industry at the hearing, 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. In contrast, the insurance industry stated that it favoured this attempt by the Commission to introduce equivalent conditions of competition between all categories of pension providers on the occupational pension market.
(see contributions)

© European Parliament