Today the European Commission will launch a process to review European pension regulation when Michel Barnier, European Commissioner for Internal Market and Services opens a public hearing on the review of the “IORP Directive”. The European Commission aims to make important elements of the Solvency II legislation for insurance companies applicable to IORPs across Europe. This objective is repeated in the Commission’s White Paper on Pensions, which talks of a “level playing field with Solvency II”.
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