BETA

13 Amendments of Peter SIMON related to 2014/0091(COD)

Amendment 270 #
Proposal for a directive
Recital 2
(2) The internal market should allow institutions to operate in other Member States and, in the process, ensure a high level of protection and security for members and beneficiaries of occupational retirement schemes.
2015/10/05
Committee: ECON
Amendment 313 #
Proposal for a directive
Recital 9
(9) In accordance with the principle of subsidiarity, Member States should retain full responsibility for the organisation of their pension systems as well as for the decision on the role of each of the three "pillars" of the retirement system in individual Member States. In the context of the second pillar, they should also retain full responsibility for the role and functions of the various institutions providing occupational retirement benefits, such as industry-wide pension funds, company pension funds and life-assurance companies. This Directive is not intended to call this prerogative into question. There should nonetheless be common rules so as to restrict regulatory arbitrage by institutions for occupational retirement provision.
2015/10/05
Committee: ECON
Amendment 315 #
Proposal for a directive
Recital 9 a (new)
(9a) Rather, this Directive should also seek to encourage Member States to build up stable and well functioning national pension systems. In addition, it should support the expansion of occupational retirement provision in Member States through close cooperation and the sharing of best practices of, in particular, those Member States which already have well developed second-pillar pension systems.
2015/10/05
Committee: ECON
Amendment 335 #
Proposal for a directive
Recital 20
(20) Institutions for occupational retirement provision are not financial service providers which; rather, they are pension scheme providers that primarily perform a social service, help further the public interest and, in the process, bear a heavy responsibility for the provision of occupational retirement benefits and. They therefore should meet certain minimum prudential standards with respect to their activities and conditions of operation. The special triangular relationship between employees, employers and institutions for occupational retirement provision should also be taken into account and acknowledged as a guiding theme in this Directive.
2015/10/05
Committee: ECON
Amendment 353 #
Proposal for a directive
Recital 24
(24) Institutions should be able to transfer pension schemes to other institutions across borders within the Union in order to facilitate the organisation of occupational retirement provision on a Union scale, subject only to authorisation from the competent authority in the home Member State of the institution transferring the pension scheme, and after prior consent has been given by the competent authority in the home Member State receiving the pension scheme (the "receiving institution"'). Unless national social and labour law on pension systemslaw provides otherwise, the transfer and its conditions should be subject to prior approval by members and beneficiaries concerned or, where applicable, their representatives.
2015/10/05
Committee: ECON
Amendment 413 #
Proposal for a directive
Recital 47
(47) Before joining a scheme, prospective members should be given all the necessary information to make an informed choice such as possibilities to opt out, contributions, costs and investment options, where applicable. Important basic information, e.g. concerning contributions and benefits, should also be made available to prospective members who, because they are automatically admitted to a particular pension scheme, do not have options to choose from.
2015/10/05
Committee: ECON
Amendment 429 #
Proposal for a directive
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. In addition, there should be an appropriateness review of all provisions in this Directive.
2015/10/05
Committee: ECON
Amendment 475 #
Proposal for a directive
Article 13 – paragraph 2
(2) The transfer of all or part of a pension scheme between transferring and receiving institutions authorised or registered in different Member States shall be subject to prior authorisation by the competent authority of the home Member State of the transferring institution, after first obtaining the consent of the competent authority of the home Member State of the receiving institution. The application for authorisation of the transfer shall be submitted by the receivtransferring institution.
2015/10/20
Committee: ECON
Amendment 633 #
Proposal for a directive
Article 39 – paragraph 4
(4) Institutions shall publish the conditions of the pension scheme on a website of their choice.
2015/10/20
Committee: ECON
Amendment 708 #
Proposal for a directive
Article 57 – paragraph 1
(1) Institutions shall be required to provide beneficiaries with informationcomprehensive information at regular intervals about the benefits due and the corresponding payment options.
2015/10/20
Committee: ECON
Amendment 714 #
Proposal for a directive
Article 59 – paragraph 1
1. The main objective of prudential supervision is the protection of members and beneficiariethe rights and entitlements of members and beneficiaries and the stability and effective management of the institutions.
2015/10/20
Committee: ECON
Amendment 721 #
Proposal for a directive
Article 73 – paragraph 1
1. Member States shall ensure, in an appropriate manner, the uniform application of this Directive through regular exchanges of information and experience with a view to developing best practices in this sphere and closer cooperation with the involvement of the social partners, and by so doing, preventing distortions of competition and creating the conditions required for unproblematic cross-border membership.
2015/10/20
Committee: ECON
Amendment 724 #
Proposal for a directive
Article 75 – paragraph 1
FourSix years after the entry into force of this Directive, the Commission shall review this Directive and report on its implementation and effectiveness to the European Parliament and the Council.
2015/10/20
Committee: ECON