Pension Benefit Statement Date Personal details of the member and where appropriate his/her retirement age Details of IORPs: - Name and address - Member State of authorisation - Competent [...] date of issue of the statement - Costs attributable to administration - Other costs plus explanation where these exceed 20% of the total costs For pension schemes with a target level of benefits [...] assumptions, particularly regarding wages For pension schemes with no target level of benefits (as- suming contributions remain constant) Target level of capital accumulated - on reaching - two years
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The new definition of cross-border business creates legal clarity. The ability to transfer pension schemes across borders increases efficiency. The fact that the home Member State's investment requirements and information obligations will apply, reduces administrative costs and increases efficiency. Whether these changes will actually promote cross-border IORPs business is doubtful because of the requirement for fully-funded provisions. In the case of cross-border business, the host Member State's funding requirements should therefore apply.
The conference will highlight how consumer interests are part of EU regulation. Analysis and discussion of EU directive’s impact on national legislature and national authorities with focus on Austria
(OTS) Pekabe – der Schutzverband der Pensionskassenberechtigten - hat gemeinsam mit der Vertretung der Europäischen Kommission in Österreich am Freitag, 17.2.2017 eine Konferenz veranstaltet, welche die jüngste EU-Richtlinie, IORP II, zum Anlass genommen hat, das Thema, 2.Säule der Pensionssicherung wieder einmal auf die Agenda zu setzen. Der Einladung sind etwa 120 Personen gefolgt, darunter Abgeordnete zum Nationalrat, Vertreter der FMA, des Seniorenrates, von Betriebsräten, Arbeitgebern und Pensionskassen sowie Anwartschafts- und Leitungsberechtigte. Gabriel Bernardino, Chairman of the European
The Commission draws the right conclusions regarding public pension systems. However, the EU is not empowered to act in this area. There is neither legislative competence nor justification for a European definition of “when” a retirement pension is “adequate”. In the case of funded pension schemes, the Commission proposes measures improving the protection of investors which, however, also lead to significant losses in profitability, competition and the freedom of individual choice.
Raising, as proposed to Member States, both the statutory and effective retirement age and the female employment rate are right as they could lessen the financial burden engendered by demographic change. A blanket regulation based on Solvency II criteria render the occupational pension schemes unnecessarily expensive and therefore less attractive for employers and employees.
17.02.17 How Occupational Pensioner’s benefit from European regulation Konferenz im Haus der Europäischen Union in Wien