Earlier this week BETTER FINANCE wrote to MEP Brian Hayes, ECON Rapporteur for the Revision of the IORP Directive, expressing its concerns regarding the proposed amendments in the ECON Committee draft report on the IORP Directive that would constitute a very significant setback in the protection of EU savers, watering down the information that IORP would receive through the so-called “Pension Benefit Statement” (PBS).
And with the clearance of the draft of the IORP II Directive draft, due in the first week of December, now delayed, we have reached a tipping point. As Jeremy Woolfe reports, “one has to ask why MEPs, who supposedly also reflect the views of their national interests, should now have suggested a mammoth number of 700 amendments during the later committee processing stage?”.
Especially, when these amendments include proposed measures that pose a threat to citizens participating to IORPs.
Please find the Investment & Pension Europe article here.