The National Association of Pension Funds (NAPF) commented on the Green Paper ‘Long-term Financing of the European Economy’ published by the European Commission today.
Joanne Segars, Chief Executive, NAPF, said:
“This is an important paper which recognises the major role that pension funds can play as long-term investors.
“We are pleased that European legislators are exploring how pension funds can invest more in infrastructure, including addressing regulatory barriers. And we also welcome the attention on improving relationships between asset owners and asset managers, and developing incentives to promote greater long-term shareholder engagement.
“The Commission is starting to see that some of its other legislative proposals risk undermining saving and investment. We are particularly encouraged by the explicit recognition that the new EU Pensions Directive should not discourage sustainable long-term financing. This gives us hope that Solvency-II type rules for pensions will not be part of the Commission’s plans.”
Notes to editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,300 pension schemes with some 16 million members and assets of around £900 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]