Author (Corporate) | European Commission: Press and Communication Service |
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Series Title | Press Release |
Series Details | IP/00/1141 (11.10.00) |
Publication Date | 11/10/2000 |
Content Type | News |
The Commission has presented a proposal for a directive on institutions for occupational retirement provision (pension funds, superannuation schemes, etc.). The aim is to create a prudential framework so as to ensure a high level of protection for the rights of future pensioners. The proposal also seeks to ensure that institutions enjoy sufficient freedom to develop an effective investment policy. They must thus be able to invest sufficiently in shares, as in the long run these have generally offered good returns and make it possible to link pension promises to growth in productivity and in the real economy. Institutions will be able to benefit from the greater depth and liquidity of the capital markets resulting from the introduction of the euro, thereby increasing the effectiveness and security of their investments. The proposal for a directive also seeks to enable an institution in one Member State to manage company pension schemes in other Member States. Adopted as part of the action plan to create a single market in financial services by 2005 (see IP/00/556), the proposal heeds the call of the Lisbon European Council of March 2000 to speed up measures “facilitating the successful participation of all investors in an integrated market eliminating barriers to investment in pension funds”. |
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Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=IP/00/1141&format=HTML&rapid=0&language=EN&guiLanguage=en |
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Subject Categories | Business and Industry, Employment and Social Affairs, Internal Markets |
Countries / Regions | Europe |