NAPF members have raised a series of concerns about the way in which the EU is drawing up a new Pensions Directive.
Their comments are summarised in an NAPF briefing paper published at the close of a Quantitative Impact Study ('QIS') conducted by the EU-level pensions regulator, EIOPA, to assess the impact of the proposals on pension scheme funding.
NAPF members question the tight timetable for drawing up the complex 'Holistic Balance Sheet' framework and also highlight problems in the way the new system would measure employers' support for pension schemes. The new system would also penalise investment in important asset classes, such as equities and infrastructure.

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