EU tells regulators to relax pension rules

National regulators - The Pensions Regulator (TPR) in the UK - should give schemes more time to ensure they fund future commitments due to the financial crisis, according to The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS). Thomas Steffen, head of CEIOPS, says a flexible approach is needed to allow schemes to extend their recovery period. He believes a relaxation of the rules will help prevent forced selling of assets to meet solvency requirements, which could be detrimental to a scheme's long-term funding. "We should encourage pension managers and tr...