EUROPE - EU employment ministers were given a platform to voice their views on the European commission's controversial proposal for the portability of pension rights, which has drawn fierce criticism from some corners.
The commission had proposed a directive to improve the portability of supplementary pension rights, aimed at enabling workers to move around the EU without losing occupational pension benefits.
The proposal had come under fire from both the EU council and the parliament. Several EU member states were also strongly opposed to the directive.
But the commission has now declared it could "water down" the draft directive.
The major resistance to the draft was due to the risk of pension funds being taken out of their territories. The Netherlands has been one of the countries particularly opposed to the directive with Dutch employer and labour foundations asking their government to formally reject it.
The proposed "transferability" clause has caught the most flak and today's meeting aimed to decide whether ministers could agree the directive should not contain provisions for transferability.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.