The NAPF commented on the Quantitative Impact Study (QIS) that the European Insurance and Occupational Pensions Authority (EIOPA) launched today.
Darren Philp, NAPF Policy Director, said:
“These proposals pose a major risk for UK pensions and we welcome the opportunity to test out how they would work in practice. Imposing extra costs on pension schemes would force more of them to close, and could undermine jobs and investment at a time when the economy is struggling. Pensions are already well protected in the UK and we see no need for an extra layer of regulation.
“It is important that UK pensions make their concerns known and we are encouraging NAPF members to get involved. EIOPA's Chairman, Gabriel Bernardino, will be speaking at our NAPF Annual Conference in Liverpool tomorrow (Weds), so we will have an immediate opportunity to debate these issues with him.”