In a letter to Commissioner Bolkestein the European Federation of Retirement Provision (EFRP) expressed that the Directive on Pension Funds is just the first stage and additional steps, notably in the area of taxation are needed.
The letter further states : 'Care must be taken to ensure that those concepts that have to date escaped the spotlight of institutional attention, such as 'scheme' or 'ring-fencing' are not developed in ways which could frustrate the pan-European pension fund operating on the basis of a single pool of assets and liabilities.'.
Press statement
See also the press statement of 12 March on the adoption of the Directive in Parliament
© EFRP - European Federation for Retirement Provision
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