The head of the European Insurance and Occupational Pensions Authority (EIOPA) has proposed an expansion of the organisation's mandate and called for the creation of an "EU retirement savings product".
The sale of variable annuities and advice given to consumers will be closely scrutinised to limit potential mis-selling, a European Union (EU) pension body says.
The European Commission (EC) has promised to review funding requirements for pension funds to fall into line with Solvency II (SII).
Solvency II will force all remaining defined benefit (DB) pension schemes to close and could lead to significant job losses as UK companies fold, lobby groups have warned.
UK pension schemes and consultants have expressed serious concerns about European plans to implement Solvency II-style rules across the EU.
Insurers have been given another year to become compliant with Solvency II (SII), the Financial Services Authority (FSA) announced today.
Financial secretary to the Treasury Mark Hoban has said the government will not allow European regulators to overrule it on pensions.
Verena Ross, international director of the FSA, has been nominated by the 27 EU member states to be the first head of the European Securities and Markets Authority (ESMA).
Verena Ross, international director of the FSA, is vying to become executive director at the European Securities and Markets Authority (ESMA), according to reports.