EUROPE - Pension funds should not be included under Solvency II, and proponents of such a move must recognise that pension funds are different to insurance companies, said Tim Reay, international pensions consultant at Hewitt Associates.
Some parties in Europe have called for pension funds to be included under Solvency II - a set of requirements similar to Basel II that covers insurance companies - but Reay said: "I am sceptical...
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