Solvency II will kill final salary pensions, says NAPF

The National Association of Pension Funds (NAPF), the Trades Union Congress (TUC) and Confederation of British Industry (CB) joined forces today to persuade European policymakers not to make pension schemes subject to Solvency II funding requirements. The trio has written a joint letter to the President of the European Commission, José Manuel Barroso, and commissioners Barnier, Andor and Rehn. The letter comes as European Insurance and Occupational Pensions Authority (EIOPA) is due to send its advice on the directive to the EU Commission. The NAPF said there was a "strong risk" it ...