European Commission pushes SII for pension funds

In a white paper on how to tackle major challenges facing pensions across Europe, the EC set out how European Union (EU) member states can deal with an ageing population which is living longer and having fewer children. The National Association of Pension Funds (NAPF) and other bodies warned that forcing pension funds to hold far more capital than they currently do would "kill off" defined benefit (DB) schemes by increasing their cost to employers. However, the EC has said the European Institution for Occupational Retirement Provision (EIORP) directive, which sets out the current fund...