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Western EuropeFebruary 1 2012

Using a sledgehammer to crack a nut

In response to a request from the European Commission, a recent consultation paper from the European pensions body looks at ways the proposed Solvency II directive for insurers could be applied to occupational pensions. Many in the industry see far more problems than solutions in its application
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What is it?

The obscurely titled 'Call for advice on the review of directive 2003/41/EC: second consultation', from the European Insurance and Occupational Pensions Authority (EIOPA). Driven by the European Commission’s wish to extend Solvency II (a directive aimed at the European insurance industry) to pensions, this consultation paper outlines the way in which the directive could be applied to occupational pensions via changes in Europe’s Institutions for Occupational Retirement Provision (IORP) directive.

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