The industry is concerned that a 'Tobin tax' could hit schemes investments.
The majority of contributors to this week's Pensions Buzz thought the prospect of was worrying for schemes although some thought the brake on high frequency trading could benefit savers.
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Question: Are you concerned about the impact on pension funds of a potential Tobin tax on financial transactions?
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Cleverly linking to another of this week's questions, one contributor said the tax would be "another reason why it won't pay to save". Another described the idea as "Robin Hood gone far too far".
"Tax on pension funds are already too complex and further complications from a Tobin tax will make it worse for DB and DC funds," complained another critic.
There were also concerns that the effect of any legislation would not be fully thought through, and could damage the wider economy as much as it would pension schemes.
One contributor said: "This is another nail in the coffin of retirement saving, just so the EU can keep spending money inefficiently on French farmers and excessive Eurocracy."
But even some critics of the idea conceded that it would "promote the old style buy-and-hold strategies" at the expense of economically damaging high frequency trading or churning.
"Pension funds should be long-term investors and not frequent traders," explained a supporter of the tax. "The impact on most pension funds should not therefore be significant."
Another respondent said the cost of the tax could be absorbed in the charges of running a fund, while other thought schemes could find ways of avoiding it.
"The main funded jurisdictions aren't included and there will soon be offshore vehicles which can be traded as a proxy outside the affected zone," said one contributor.
A respondent who was keen to put concerns into context said: "We should have far bigger things than that to worry about."
