Pensions - Articles - NAPF ‘disappointed’ over Holistic Balance Sheet consultation

 The National Association of Pension Funds has commented on the publication by EIOPA of a consultation paper on the Holistic Balance Sheet.

 James Walsh, Policy Lead: EU & International, NAPF, said:

 “We are disappointed that EIOPA has chosen to press ahead with this project. The European Commission put the plan for solvency-based funding of pension schemes on the backburner last year due to the serious concerns raised by a wide range of employers, trade unions and governments across Europe. It is not clear why EIOPA is still consulting on it.

 “Although we would prefer EIOPA to drop this altogether, we are pleased that it has acknowledged the concerns raised in previous consultation rounds. The shift away from a one-size-fits-all system and towards more flexible implementation at national level is an important step in the right direction, but we still think there are more pressing priorities for EU policy-makers to address. We need to extend pension saving to the millions of EU citizens with no access to workplace pensions. We need to strengthen governance and ensure DC schemes are of high-quality. Tackling these challenges would be a positive agenda.

 “The Chair of EIOPA, Gabriel Bernardino, will be speaking at the NAPF’s Annual Conference on Friday. We look forward to discussing these proposals with him.”