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Chair of PensionsEurope to make recommendations at 2016 conference

Friday, June 24, 2016

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The second PensionsEurope conference in Brussels is taking place this week, and chair Janwillem Bouma will address a variety of industry concerns.

Bouma will discuss how to get more people savings retirement, telling delegates that 60% of EU citizens have no access to workplace pensions.

The ageing population is a "pressing problem", he plans to add.

Delegates will also hear how the Dutch have made progress, along with the European Parliament, and the European Commission, in the negotiations on IORPII.

Bouma will say: "In general, PensionsEurope welcomes the direction of the IORPII discussions - we have been particularly pleased that the IORP II directive will not contain additional solvency capital requirements for IORPs, which could have had significant negative impacts on IORPs, sponsors and members."

He will welcome that EIOPA has taken note of some concerns raised by PensionsEurope that there is no need for a harmonised solvency framework for IORPs.

"A one-size fits-all solvency regime is not appropriate and would have potential significant negative impacts", he will explain.

EIOPA has proposed to introduce a standardised risk assessment to value IORPs on a common framework balance sheet.

Bouma will note that "EIOPA's proposal for the mandatory use of a common framework balance sheet is impractical, unnecessary and costly."

The conference will also see the launch of PensionsEurope paper on the key principles for good governance for workplace defined contribution pension plans.

The paper will set out 14 principles of good governance, which the organisation believes all workplace DC pension plans throughout Europe should adhere to.

PensionsEurope represents national associations of pension funds and similar institutions for workplace pensions.

It has 24 member associations in EU Member States and other European countries with significant – in size and relevance – workplace pension systems.

Its member organisations cover the workplace pensions of about 70 million European citizens.

First published 23.06.2016

Lindsay.sharman@wilmingtonplc.com