Ceemet, ECEG & industriAll Europe oppose applying a Solvency II-like own-funds requirement to occupational pension provision institutions since this would increase the costs of occupational pensions provided by companies, and negatively affect both employers and employees.
Social partners fear that the capacity of concerned companies and sectors to invest and innovate would be weakened, employees’ pension claims would be reduced or pension schemes could even be closed if this plan is to materialise. Social partners of our industries in various Member State have already created attractive overall terms and conditions for employers and employees in the field of occupational pension provision and in this way are making a significant contribution to the old-age protection of workers.
Our common position was published today on the planned initiative on IORP (Institutions for Occupational Retirement Provision) within the context of the White Paper on “an agenda for adequate, safe and sustainable pensions”.