EP adopted Proposal on Pension Fund Directive (1st reading)

04 July 2001

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The European Parliament adopted the report by Othmar Karas and amended the Commission's proposal on occupational pension schemes (1st reading). Parliament believes that the new rules based on home country supervision should ensure high standards while allowing pension funds considerable freedom of action. One amendment seeks to bring life assurance companies under the scope of the directive. Another deals with liabilities for the funds and funds facing difficulties. Other amendments take up issues such as the transfer of pension rights, the reduction of discrimination against migrant workers and equality questions.

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