EIOPA's study on the impact of Solvency II type proposals on pensions - NAPF comment
16 October 2012
The National Association of Pension Funds (NAPF) commented on the Quantitative Impact Study (QIS) that the European Insurance and Occupational Pensions Authority (EIOPA) launched today.
Darren Philp, NAPF Policy Director, said:
“These proposals pose a major risk for UK pensions and we welcome the opportunity to test out how they would work in practice. Imposing extra costs on pension schemes would force more of them to close, and could undermine jobs and investment at a time when the economy is struggling. Pensions are already well protected in the UK and we see no need for an extra layer of regulation.
“It is important that UK pensions make their concerns known and we are encouraging NAPF members to get involved. EIOPA's Chairman, Gabriel Bernardino, will be speaking at our NAPF Annual Conference in Liverpool tomorrow (Weds), so we will have an immediate opportunity to debate these issues with him.”
Notes to editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Contacts:
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]