9 Amendments of Emilian PAVEL related to 2014/0091(COD)
Amendment 94 #
Proposal for a directive
Recital 4
Recital 4
(4) Action is needed to further develop complementary private retirement savings such as occupational pensions. This is important since social-security systems are coming undeemployees can improve their fincreasing pressure, which means that citizens will increasingly rely onancial situation after retiring through occupational retirement pensions as a complement in the future. Occupational retirement pensions should be developed, without, however, calling into question the importance of social- security pension systems in terms of secure, durable and effective social protection, which should guarantee a decent standard of living in old age and should therefore be at the centre of the objective of strengthening the European social model.
Amendment 98 #
Proposal for a directive
Recital 5
Recital 5
(5) This Directive respects the fundamental rights and observes the principles recognised by the Charter of Fundamental Rights of the European Union, notably, the right to protection of personal data, the right to conduct a business, the right to property, the right of collective bargaining and action and the right to a high level of consumer protection, in particular by ensuring a higher level of transparency of retirement provisioning, informed personal financial and retirement planning as well as facilitating cross-border business of institutions for occupational retirement provision and businesses. This Directive must be implemented in accordance with these rights and principles.
Amendment 110 #
Proposal for a directive
Recital 33
Recital 33
(33) As very long-term investors with low liquidity risks, institutions for occupational retirement provision are in a position to invest in non-liquid assets such as shares as well as in instruments that have a long- term economic profile and are not traded on regulated markets, multilateral trading facilities or organised trading facilities within prudent limits. They can also benefit from the advantages of international diversification. Investments in shares in currencies other than those of the liabilities and in instruments that have a long-term economic profile and are not traded on regulated markets, multilateral trading facilities or organised trading facilities should therefore not be restricted except on prudential grounds.
Amendment 112 #
Proposal for a directive
Recital 35
Recital 35
(35) Institutions should be allowed to invest in other Member States in accordance with the rules of their home Member States in order to reduce the cost of cross-border activity. Therefore the host Member States should not be allowed to impose additional investment requirements on. However, if the institution works on a cross-border basis it may be asked by the competent authority of the host Member State to apply limits for investment, provided that such rules also apply to institutions located in other host Member States.
Amendment 119 #
Proposal for a directive
Recital 53
Recital 53
(53) An internal market forThe institution's requires mutual recognadherence to prudential standards should be supervised by the competent authoritiones of prudential standards. The institution'the institution's home Member State. If the institution works on a cross-border basis, its adherence to thoseprudential standards should additionally be supervised by the competent authorities of the institution’s homest Member State. Member States should attribute to competent authorities the necessary powers to use preventive or corrective measures if institutions breach any of the requirements of this Directive.
Amendment 123 #
Proposal for a directive
Article 6 – point c
Article 6 – point c
(c) ’sponsoring undertaking’ means any undertaking or other body, regardless of whether it includes or consists of one or more legal or natural persons, which under national legislation is legally obliged or voluntarily commits to offering a pension scheme and which has an employment relationship with the scheme members and beneficiaries;
Amendment 125 #
Proposal for a directive
Article 12 – paragraph 10
Article 12 – paragraph 10
10. Member States shall ensure that an institution carrying out cross-border activity shall not be subject to any requirements concerning information to members and beneficiaries imposed by the competent authorities of the host Member State in respect of the members which that cross-border activity concerns.
Amendment 160 #
Proposal for a directive
Article 59 – paragraph 2
Article 59 – paragraph 2
Amendment 162 #
Proposal for a directive
Article 61 – paragraph 5
Article 61 – paragraph 5