14 Amendments of Elisa FERREIRA related to 2014/0091(COD)
Amendment 278 #
Proposal for a directive
Recital 3
Recital 3
(3) Directive 2003/41/EC represented a first legislative step on the way to an internal marketintroduced minimum standards for occupational retirement provision organised on a European scale. A genuine internal market for occupational retirement provision remains crucial for economic growth and job creation in the European Union andThe introduction and further development of safe occupational retirement schemes in more Member States remains crucial for tackling the challenge of an ageing European society. The Directive, dating from 2003, has not been substantially amended to introduce a modern risk-based governance system also for institutions for occupational retirement provision.
Amendment 288 #
Proposal for a directive
Recital 4
Recital 4
(4) Action is needed to further develop complementary private retirement savings such asin the form of 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, for many citizens, the occupational pension is a valuable addition to what is provided through the social-security pension system. Occupational retirement pensions should therefore be developed, without, however, calling into question the fundamental importance of social-security pension systems in terms of secure, durable and effective social protection, which should guarantee for all citizens a decent standard of living in old age and should therefore be at the centre of the objective of strengthening the European social model.
Amendment 297 #
Proposal for a directive
Recital 5
Recital 5
(5) This Directive respects the fundamental rights and observes the principles recognised by the Charter of Fundamental Rights of the European Union, notably, the right to protection of personal data, the right to conduct a business, the right to property, the right of collective bargaining and action and the right to a high level of consumer protection, in particular by ensuring a higher level of transparency of retirement provisioning, informed personal financial and retirement planning as well as facilitating cross-border business of institutions for occupational retirement provision and businesses. This Directive must be implemented in accordance with these rights and principles.
Amendment 302 #
Proposal for a directive
Recital 5 a (new)
Recital 5 a (new)
(5a) Member States should enhance the protection of pension rights of workers temporarily sent to work in another Member State.
Amendment 377 #
Proposal for a directive
Recital 33
Recital 33
(33) As very long-term investors with low liquidity risks, institutions for occupational retirement provision are in a position to invest in non-liquid assets such as shares as well as in instruments that have a long- term economic profile and are not traded on regulated markets, multilateral trading facilities or organised trading facilities within prudent limits. They can also benefit from the advantages of international diversification. Investments in shares in currencies other than those of the liabilities and in instruments that have a long-term economic profile and are not traded on regulated markets, multilateral trading facilities or organised trading facilities should therefore not be restricted except on prudential grounds, in line with the "prudent person" rule so as to protect the interest of members.
Amendment 384 #
Proposal for a directive
Recital 35 a (new)
Recital 35 a (new)
Amendment 390 #
Proposal for a directive
Recital 37
Recital 37
(37) Remuneration policies which encourage excessive risk-taking behaviour can undermine sound and effective risk management of institutions. Principles and disclosure requirements for remuneration policies applicable to other types of financial institutions in the Union should be made applicable also to institutions, bearing in mind, however, the particular governance structure of institutions in comparison to other types of financial institutions and the need to take account of the size, nature, scope and complexity of the activities of institutions. The provisions on remuneration should apply without prejudice to the rights, where applicable, of the social partners to conclude and enforce collective agreements, in accordance with national law and customs.
Amendment 421 #
Proposal for a directive
Recital 48
Recital 48
(48) For the institution's members that have not yet retired, institutions should draw up a standardised pension benefit statement containing key personal and generic information about the pension scheme. The pension benefit statement should have a standard format in order, be clear and comprehensible and contain relevant information to facilitate the understanding of pension entitlements over time and across schemes and serve labour mobility.
Amendment 436 #
Proposal for a directive
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
The institution’s social function and the triangular relationship between the employee, the employer and the IORP shall be adequately acknowledged and supported as a guiding principle of the Directive;
Amendment 471 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
1. Member States shallmay allow institutions authorised or registered in their territories to transfer a, fully or a part of their pension schemes to receiving institutions authorised or registered in other Member Statesly, a pension scheme’s liabilities or technical provisions, as well as other obligations and rights and corresponding assets, or cash equivalent thereof, to receiving institutions authorised or registered in other Member States, provided that, in the case of a transfer of part of the pension scheme, the viability of both the transferred and the remaining part of the pension scheme is ensured and the rights of members are adequately protected after the transfer. The receiving institution shall operate the pension scheme in accordance with the social and labour law of the host Member State, thereby not changing the level of protection of the members and beneficiaries concerned by the transfer.
Amendment 502 #
Proposal for a directive
Article 14 – paragraph 5 a (new)
Article 14 – paragraph 5 a (new)
5a. The Commission shall propose any necessary measures to prevent possible distortions caused by different levels of interest rates and to protect the interest of beneficiaries and members of any scheme.
Amendment 507 #
Proposal for a directive
Article 15 – paragraph 2 – point a
Article 15 – paragraph 2 – point a
(a) the institution shall set up a concrete and realisable plan to re-establish the required amount of assets to cover fully the technical provisions in due time. The plan shall be made available to members or, where applicable, to their representatives and/or shall be subject to approval by the competent authorities of the home Member State;
Amendment 544 #
Proposal for a directive
Article 20 – paragraph 6 – subparagraph 2 – point b a (new)
Article 20 – paragraph 6 – subparagraph 2 – point b a (new)
(ba) Investing in instruments that are promoting long-term investment in the real economy in the European Union including the European Fund for Strategic Investments (EFSI), the European Long-term Investment Funds (ELTIFs) or the European Social Entrepreneurship Funds (EuSEFs);
Amendment 562 #
Proposal for a directive
Article 24 – paragraph 1 a (new)
Article 24 – paragraph 1 a (new)
1a. Directive 2013/36/EU shall apply to those persons who effectively run institutions for occupational retirement provision so as to ensure a sound remuneration policy. __________________