FEFSI statement on EP vote of Pension Funds Directive

13 March 2003

The European Federation of Investment Funds and Companies (FEFSI) considers in its response to the adoption of the Directive in Parliament that this will be only a first step but not a sufficient response to the challenges facing European pension systems.

FEFSI regrets that the agreed compromise package left aside the amendments that had been adopted by the Parliament’s EMAC Committee to cover all nationally and supervised institutions. Consequently the Directive will only cover pension funds and life-insurance companies and no other occupational pension schemes providers.

FEFSI welcomes the commitment taken by the Commission to “carefully monitor the situation in the occupational pensions market and assess the possibility of extending the optional application of this Directive to other regulated financial institutions”.

Press release

© FEFSI