Green Paper issued July 2010. Consultation ended 15 November 2010
A White Paper on pensions is expected in September 2011
Call for advice issued April 2011. Advice requested by 16 December 2011
The European Commission has issued a Green Paper on the future of pensions, asking for responses to various questions such as:
- how may higher effective retirement ages may best be achieved?
- how should the IORP directive be amended to improve conditions for cross border activity?
- should EU legislation be reviewed to ensure consistent regulation of funded products?
- what would a solvency regime for pension schemes equivalent to the Solvency II regime look like?
- how should obstacles to mobility be tackled?
- should EU legislation enhance protection on an employer's insolvency?
- should the EU develop a common approach for default investment options?
The European Commission has issued a call for advice from the European Insurance and Occupational Pensions Authority (EIOPA) in relation to the review of the IORP directive. Issues on which advice is specifically sought include: avoiding regulatory arbitrage between financial sectors, so that the layout of the supervisory system is, as far as possible, compatible with the approach and rules used for supervising the life assurance industry subject to Solvency II.