UK - Pension fund trustees may have to set aside "vast additional reserves" to cover risks posed by the possible incorporation of some aspects of Solvency II in the Institutions for Occupational Retirement Provision (IORP) directive, Andrew Cox, partner at Lane Clark & Peacock, warned.
Cox said the possibility of Solvency II being introduced into the IORPs directive would have a “disproportionate” impact on UK businesses, and added its impact would be significant. “Both UK ba...
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