9 Amendments of Esther DE LANGE related to 2014/0091(COD)
Amendment 338 #
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are financial service providers which bear a heavypension institutions with a social purpose that provide financial services. They are responsibilityle for the provision of occupational retirement benefits and therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation. Their social function and the triangular relationship among the employee, the employer and the institution should be adequately acknowledged and supported as guiding principles of this Directive.
Amendment 364 #
Proposal for a directive
Recital 27
Recital 27
(27) Sufficient and appropriate assets to cover the technical provisions protect the interests of members and beneficiaries of the pension scheme if the sponsoring undertaking becomes insolvent. In particularAlso in cases of cross-border activity, the mutual recognition of supervisory principles applied in Member States requires that the technical provisions be fully funded at all times.
Amendment 472 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Member States shallmay allow institutions authorised or registered in their territories to transfer a, fully or a part of partly, a pension scheme’s liabilities or technical provisions, as well as otheir pension schemes to receiving institutions authorised or registered in other Member States. obligations and rights and corresponding assets, or cash equivalent thereof, to receiving institutions authorised or registered in other Member States, provided that, in the case of a transfer of part of the pension scheme, the viability of both the transferred and the remaining part of the pension scheme is ensured and the rights of members are adequately protected after the transfer.
Amendment 478 #
Proposal for a directive
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Unless national social and labour law on the organisation of pension systems provides otherwise, tThe transfer and its conditions shall be made subject to prior approval by the members and beneficiaries concerned or, where applicable, their representatives. In any event,The information on the conditions of the transfer shall be made available to the members and beneficiaries concerned or, where applicable, their representatives at least four months before the application referred to in paragraph 2 is submitted.
Amendment 514 #
Proposal for a directive
Article 15 – paragraph 3
Article 15 – paragraph 3
3. In the event of cross-border activity as referred to in Article 12, the technical provisions shall at all times be fully funded in respect of the total range of pension schemes operated. If these conditions are not met, the competent authorities of the home Member State shall intervene in accordance with Article 62. To comply with this requirement the home Member State may require ring- fencing of the assets and liabilitiesThe conditions laid down in paragraphs 1 and 2 of this Article shall also apply in the event of cross-border activity, as referred to in Article 12.
Amendment 580 #
Proposal for a directive
Article 25 – paragraph 6 – introductory part
Article 25 – paragraph 6 – introductory part
6. The risk management, internal audit and, where applicable, actuarial functions shall inform the competent authority of the institution ifholder of a key function shall inform the competent authority of the institution of any finding that could have a significant impact on the interests of members and beneficiaries. The obligation to inform the competent authority arises in particular when the holder of a key function assesses that the administrative, management or supervisory body of the institution does not take appropriate and timely remedial action: in the light of such a finding.
Amendment 604 #
Proposal for a directive
Article 29 – paragraph 4
Article 29 – paragraph 4
4. The risk evaluation for pensions shall beassessment referred to in paragraph 3 shall be performed regularly and form an integral part of the operational strategy and shall be taken into account in the strategic decisions of the institution. It shall be made available to the Members of the scheme.
Amendment 719 #
Proposal for a directive
Article 63 – paragraph 1 – subparagraph 2 – point c
Article 63 – paragraph 1 – subparagraph 2 – point c
(c) an assessment of the ability of the institution to assess and manage those risks.
Amendment 723 #
Proposal for a directive
Article 73 – paragraph 2 a (new)
Article 73 – paragraph 2 a (new)
2a. Given the need to further develop occupational pensions systems in the Member States, the Commission shall establish a High Level Group of experts to explore ways to increase second pillar retirement savings schemes in the Member States, including the promotion of the exchange of best practices between the Member States.