UK/Europe - The European Commission must make sure it does not "mix apples with oranges" and confuse the insurance industry with pension funds.
The European commissioner for employment, social affairs and inclusion László Andor told delegates he understood the concerns of the UK pensions industry over the possible implementation of part of the Solvency II solvency rules to pension schemes.
But - while Andor said he could not comment on the forthcoming White Paper on pensions, which is due to be published within weeks - he assured the audience the Commission was well aware of the differences between insurers and pension funds.
He said: "I came to listen. I understand your concerns. We have been in a dialogue with governments, the pensions industry and unions. Everyone has an understanding and experience of the pensions system in the UK."
Andor added: "We should make sure we don't mix apples and oranges and not mix the insurance industry with pension funds," he said.
"I can tell you we do know the difference in the European Commission. There is a difference and it is understood."
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