21 Amendments of Heinz K. BECKER related to 2014/0091(COD)
Amendment 291 #
Proposal for a directive
Recital 4
Recital 4
(4) Action is needed to further develop complementary private retirement savings such as occupational pensions. This is important since social-security systems are coming under increasing pressure, which means that citizens will increasingly rely on occupational retirement pensions as a complement in the future. Occupational retirement pensions should be developed, without, however, calling into question the importance of social-security pension systems in terms of secure, durable and effective social protection, which should guarantee a decent standard of living in old age and should therefore be at the centre of the objective of strengthening the European social model. Regrettably, suggestions that Solvency II regimes (such as the holistic balance sheet model) might be applied to institutions for occupational retirement provision have created legal uncertainty and an unpredictable context for planning and therefore hampered the further development and expansion of those institutions. Priority must be assigned to creating legal certainty, reinforcing successful models of institutions for occupational retirement provision and protecting their continued existence.
Amendment 336 #
Proposal for a directive
Recital 20
Recital 20
(20) Institutions for occupational retirement provision are not financial service providers whichbut provide collective social welfare benefits. Under social- partner management and supervision, they bear a heavy responsibility for the provision of occupational retirement benefits and therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation, taking due account of national rules and traditions.
Amendment 344 #
Proposal for a directive
Recital 20 a (new)
Recital 20 a (new)
(20a) Institutions for occupational retirement provision are often subject to joint management and monitoring by the social partners. This collective organisation makes them fundamentally different from financial service providers.
Amendment 427 #
Proposal for a directive
Recital 57
Recital 57
(57) In order to ensure the smooth functioning of the internal market for occupational retirement provision organised on a European scale, the Commission should, after consulting EIOPA, review and report on the application of this Directive and should submit that report to the European Parliament and to the Council foursix years after the entry into force of this Directive. That review should assess in particular the application of the rules regarding the calculation of the technical provisions, the funding of technical provisions, regulatory own funds, solvency margins, investment rules and any other aspect relating to the financial solvency situation of the institution.
Amendment 431 #
Proposal for a directive
Recital 59
Recital 59
Amendment 446 #
Proposal for a directive
Article 6 – paragraph 1 – point a – introductory part
Article 6 – paragraph 1 – point a – introductory part
(a) ‘institution for occupational retirement provision’, or ‘institution’, means an institution, irrespective of its legal form, operating on a funded basis, which is not a financial service provider and is established separately from any sponsoring undertaking or trade for the purpose of providing retirement benefits in the context of an occupational activity on the basis of an agreement or a contract agreed:
Amendment 488 #
Proposal for a directive
Article 13 – paragraph 8
Article 13 – paragraph 8
8. After the transfer is completed, the receiving institution shall be subject to the rules of the Member State in which it is registered or authorised. Where the receiving institution carries out a cross- border activity, Article 12(8) and (9) shall apply.
Amendment 542 #
Proposal for a directive
Article 20 – paragraph 6 – subparagraph 2 – point a
Article 20 – paragraph 6 – subparagraph 2 – point a
(a) investing up to 70 % of the assets covering the technical provisions or of the whole portfolio for schemes in which the members bear the investment risks in shares, negotiable securities treated as shares and corporate bonds admitted to trading on regulated markets, or through multilateral trading facilities or organised trading facilities, and deciding on the relative weight of these securities in their investment portfolio. However, provided that it is prudentially justified, Member States may apply a lower limit to institutions which provide retirement products with a long- term interest rate guarantee, bear the investment risk and themselves provide for the guarantee;
Amendment 596 #
Proposal for a directive
Article 29 – paragraph 1 – subparagraph 1
Article 29 – paragraph 1 – subparagraph 1
Member States shall require, appropriately to their size, internal organisation and the nature, scope and complexity of their activities, institutions, as part of their risk- management system, to carry out their own risk assessment and to produce a risk evaluation for pensions in order to document that assessment. No quantitative capital requirements (for example Solvency II or holistic balance sheet models derived therefrom) may be imposed, as they could jeopardise the survival of successful collective occupational pension schemes by giving rise to high costs.
Amendment 607 #
Proposal for a directive
Article 30
Article 30
Amendment 608 #
Proposal for a directive
Article 30
Article 30
Amendment 611 #
Proposal for a directive
Article 30 – paragraph 1
Article 30 – paragraph 1
Amendment 613 #
Proposal for a directive
Article 30 – paragraph 2
Article 30 – paragraph 2
Amendment 631 #
Proposal for a directive
Article 38 – paragraph 1
Article 38 – paragraph 1
(1) Depending on the nature of the pension scheme established, and after careful consideration of the administrative burden involved and of the benefits to be secured, Member States shall ensure that every institution located in their territories provides prospective members, members and beneficiaries at least the information set out in Articles 39 to 53 and Articles 55 to 58.
Amendment 645 #
Proposal for a directive
Article 42
Article 42
Amendment 646 #
Proposal for a directive
Article 42
Article 42
Amendment 684 #
Proposal for a directive
Article 51
Article 51
Amendment 703 #
Proposal for a directive
Article 54
Article 54
Amendment 725 #
Proposal for a directive
Article 75 – paragraph 1
Article 75 – paragraph 1
Amendment 735 #
Proposal for a directive
Article 78 – paragraph 1 – subparagraph 1
Article 78 – paragraph 1 – subparagraph 1
Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with Article 6(c), (i) to (p), Article 12(4) second and third subparagraph, Article 12(10), Article 13, Article 20(6) and (8), Articles 21 to 30, Article 33, Article 35(1) and (2), Article 35(4) to (7), Article 36 to 38, Articles 39(1) and (3), Articles 40 to 53, Articles 55 to 57, Article 58(1), Articles 59 to 61, Article 63, Article 64(1)(b) to (d) and (f), Articles 65 to 71 of this Directive by 31 December 2016...*[OJ please insert date: 24 months after the entry into force of this Directive]. They shall forthwith communicate to the Commission the text of those provisions.
Amendment 736 #
Proposal for a directive
Article 79 – paragraph 1
Article 79 – paragraph 1
Directive 2003/41/EC, as amended by the Directives listed in Annex I, Part A, is repealed with effect from 1 January 2017...*[OJ please insert date: 24 months after the entry into force of this Directive] without prejudice to the obligations of the Member States relating to the time-limits for transposition into national law and application of the Directives set out in Annex I, Part B.