Activities of Thomas MANN related to 2014/0091(COD)
Plenary speeches (1)
Activities and supervision of institutions for occupational retirement provision (debate) DE
Amendments (38)
Amendment 86 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) Occupational pension provision is not a financial service but the provision of a collective social welfare benefit.
Amendment 88 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) Institutions for occupational retirement provision are organised and regulated in completely different ways in the Member States. It therefore makes no sense to adopt a ‘one size fits all’ approach to institutions for occupational retirement provision. The Commission and EIOPA take account of the various traditions of the Member States in their activities and assign priority to national labour and social legislation in determining the organisation of institutions for occupational retirement provision.
Amendment 90 #
Proposal for a directive
Recital 2 b (new)
Recital 2 b (new)
(2b) Institutions for occupational retirement provision are often subject to joint management and monitoring by the social partners. This collective organisation makes them fundamentally different from financial service providers.
Amendment 96 #
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 under increasing pressure, which means that citizens will increasingly rely on 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. Regrettably, suggestions by the Commission and EIOPA that Solvency II regimes (such as the holistic balance sheet model) might be applied to institutions for occupational retirement provision have created legal uncertainty and an unpredictable context for planning and therefore hampered the further development of those institutions. Priority must be assigned to creating legal certainty, reinforcing successful models of institution for occupational retirement provision and protecting their continued existence.
Amendment 107 #
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are not financial service providers whichbut provide collective social welfare benefits; as collective organisations managed and supervised by the social partners, they bear a heavy responsibility for the provision of occupational retirement benefits and therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation, taking due account of national rules and traditions.
Amendment 120 #
Proposal for a directive
Recital 57
Recital 57
(57) In order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a European scale, the Commission should, after consulting EIOPA, review and report on the application of this Directive and should submit that report to the European Parliament and to the Council foursix years after the entry into force of this Directive. That review should assess in particular the application of the rules regarding the calculation of the technical provisions, the funding of technical provisions, regulatory own funds, solvency margins, investment rules and any other aspect relating to the financial solvency situation of the institution. In order to create legal certainty and predictability for planning purposes in relation to institutions for occupational retirement provision, the possibility is excluded for the long term that Solvency II might be applied to the capital requirements of institutions for occupational retirement provision.
Amendment 121 #
Proposal for a directive
Recital 59
Recital 59
Amendment 135 #
Proposal for a directive
Article 24 – paragraph 3 – introductory part
Article 24 – paragraph 3 – introductory part
3. The Commission shall be empowered to adopt a delegated act in accordance with Article 77 specifyMember States may determinge:
Amendment 136 #
Proposal for a directive
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Member States shallmay require, appropriately to their size, internal organisation and the nature, scope and complexity of their activities, institutions, as part of their risk- management system, to carry out their own risk assessment and to produce a risk evaluation for pensions in order to document that assessment. No quantitative capital requirements (for example Solvency II or holistic balance sheet models derived therefrom) may be imposed, as they could jeopardise the survival of successful collective occupational pension schemes by giving rise to high costs.
Amendment 140 #
Proposal for a directive
Article 30
Article 30
Amendment 144 #
Proposal for a directive
Article 38 – paragraph 1
Article 38 – paragraph 1
(1) Depending on the nature of the pension scheme established, and after careful consideration of the administrative burden involved and of the benefits to be secured, Member States shallmay ensure that every institution located in their territories provides prospective members, members and beneficiaries at least the information set out in Articles 39 to 53 and Articles 55 to 58.
Amendment 146 #
Proposal for a directive
Article 39 – paragraph 1 – introductory part
Article 39 – paragraph 1 – introductory part
(1) Depending on the nature of the pension scheme established, and after careful consideration of the administrative burden involved and of the benefits to be secured, Member States shallmay, in respect of every institution located in their territories, ensure that members are sufficiently informed of the conditions of the pension scheme, in particular concerning:
Amendment 147 #
Proposal for a directive
Article 40 – paragraph 1
Article 40 – paragraph 1
(1) Depending on the nature of the pension scheme established, and after careful consideration of the administrative burden involved and of the benefits to be secured, Member States shallmay require institutions to draw up a document containing key information for each member (the 'pension benefit statement').
Amendment 148 #
Proposal for a directive
Article 40 – paragraph 2
Article 40 – paragraph 2
(2) Members States shallmay ensure that the information contained in the pension benefit stateinformation document is updated and sent to each member at least once every twelve months and free of charge.
Amendment 149 #
Proposal for a directive
Article 40 – paragraph 3
Article 40 – paragraph 3
(3) Any material change to the information contained in the pension benefit stateinformation documents compared to the previous year shallmay be clearly explained in an accompanying letter.
Amendment 150 #
Proposal for a directive
Article 41 – paragraph 1
Article 41 – paragraph 1
1. The information provided in the pension benefit statean information document shall be comprehensible without reference to other documents.
Amendment 151 #
Proposal for a directive
Article 41 – paragraph 2
Article 41 – paragraph 2
2. Where these provisions are applied, Member States shall ensure that the pension benefit stateinformation document is available in an official language of the Member State whose social and labour law relevant to the field of occupational pension schemes is applicable to the relationship between the sponsoring undertaking or the institution on the one hand and the members or the beneficiaries on the other.
Amendment 153 #
Proposal for a directive
Article 42
Article 42
Amendment 154 #
Proposal for a directive
Article 45
Article 45
Amendment 155 #
Proposal for a directive
Article 48 – paragraph 1 – introductory part
Article 48 – paragraph 1 – introductory part
(1) The pension benefit statement shallAfter careful consideration of the administrative burden involved and of the benefits to be secured, Member States may ensure that information documents contain one of the following indications regarding guarantees under the pension scheme:
Amendment 156 #
Proposal for a directive
Article 49 – paragraph 1 – introductory part
Article 49 – paragraph 1 – introductory part
(1) With regard to balance, contributions and costs, the pension benefit statement shallinformation document may indicate the following amounts expressed in the currency relevant for the pension scheme:
Amendment 157 #
Proposal for a directive
Article 50 – paragraph 1 – introductory part
Article 50 – paragraph 1 – introductory part
(1) Where the pension scheme provides for a target level of benefits, the pension benefit statement shallinformation document may indicate the following three amounts concerning pension projections expressed in the currency relevant for the pension scheme:
Amendment 158 #
Proposal for a directive
Article 54 – paragraph 1 – introductory part
Article 54 – paragraph 1 – introductory part
Amendment 159 #
Proposal for a directive
Article 55 a (new)
Article 55 a (new)
Article 55a The provisions set out in Chapter 3 of this directive shall be subject to the legislative autonomy of the Member States. They may decide, in accordance with the circumstances and preconditions of their occupational pension schemes and in line with the subsidiarity principle, whether or not to apply the provisions of Chapter 3 to institutions for occupational pension provision within their territory.
Amendment 164 #
Proposal for a directive
Article 75
Article 75
Amendment 291 #
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 under increasing pressure, which means that citizens will increasingly rely on 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. Regrettably, suggestions that Solvency II regimes (such as the holistic balance sheet model) might be applied to institutions for occupational retirement provision have created legal uncertainty and an unpredictable context for planning and therefore hampered the further development and expansion of those institutions. Priority must be assigned to creating legal certainty, reinforcing successful models of institutions for occupational retirement provision and protecting their continued existence.
Amendment 336 #
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are not financial service providers whichbut provide collective social welfare benefits. Under social- partner management and supervision, they bear a heavy responsibility for the provision of occupational retirement benefits and therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation, taking due account of national rules and traditions.
Amendment 344 #
Proposal for a directive
Recital 20 a (new)
Recital 20 a (new)
(20a) Institutions for occupational retirement provision are often subject to joint management and monitoring by the social partners. This collective organisation makes them fundamentally different from financial service providers.
Amendment 427 #
Proposal for a directive
Recital 57
Recital 57
(57) In order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a European scale, the Commission should, after consulting EIOPA, review and report on the application of this Directive and should submit that report to the European Parliament and to the Council foursix years after the entry into force of this Directive. That review should assess in particular the application of the rules regarding the calculation of the technical provisions, the funding of technical provisions, regulatory own funds, solvency margins, investment rules and any other aspect relating to the financial solvency situation of the institution.
Amendment 431 #
Proposal for a directive
Recital 59
Recital 59
Amendment 446 #
Proposal for a directive
Article 6 – paragraph 1 – point a – introductory part
Article 6 – paragraph 1 – point a – introductory part
(a) ‘institution for occupational retirement provision’, or ‘institution’, means an institution, irrespective of its legal form, operating on a funded basis, which is not a financial service provider and is established separately from any sponsoring undertaking or trade for the purpose of providing retirement benefits in the context of an occupational activity on the basis of an agreement or a contract agreed:
Amendment 596 #
Proposal for a directive
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Member States shall require, appropriately to their size, internal organisation and the nature, scope and complexity of their activities, institutions, as part of their risk- management system, to carry out their own risk assessment and to produce a risk evaluation for pensions in order to document that assessment. No quantitative capital requirements (for example Solvency II or holistic balance sheet models derived therefrom) may be imposed, as they could jeopardise the survival of successful collective occupational pension schemes by giving rise to high costs.
Amendment 608 #
Proposal for a directive
Article 30
Article 30
Amendment 611 #
Proposal for a directive
Article 30 – paragraph 1
Article 30 – paragraph 1
Amendment 613 #
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
Amendment 631 #
Proposal for a directive
Article 38 – paragraph 1
Article 38 – paragraph 1
(1) Depending on the nature of the pension scheme established, and after careful consideration of the administrative burden involved and of the benefits to be secured, Member States shall ensure that every institution located in their territories provides prospective members, members and beneficiaries at least the information set out in Articles 39 to 53 and Articles 55 to 58.
Amendment 646 #
Proposal for a directive
Article 42
Article 42
Amendment 725 #
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1