Pensions - Articles - Jonathan Camfield from LCP on Solvency II for Pensions




 Commenting on the upcoming European Insurance and Occupational Pensions Authority ("EIOPA") consultation on Solvency II and its application to European pension schemes, Jonathan Camfield, partner at LCP said: "If Solvency II were to be applied to UK pensions the result would be a dramatic increase in the assessed liabilities of UK pension schemes - perhaps of the order of £500 billion - and pressure on pension schemes to switch to more secure assets, like government bonds.
  

 Any developments in this direction would clearly be very damaging to the UK's economy, and we understand that the Government has been lobbying at the highest levels to resist this.
  

 Sponsors of pension schemes should be following these developments closely and be asking what any proposed changes might mean for them and how this might affect their strategic pension planning.
 We suspect that many companies and pension schemes will wish to respond to EIOPA's consultation. Some may also wish to start lobbying the European Commission on this subject, in advance of a review of the relevant European Directive due to be completed next year."
  

Back to Index


Similar News to this Story

Wish list for the occupational pensions industry in 2025
As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces nume
PSIG announces outcome of Consultation
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedbac
Transfer values fell to a 12 month low during November
XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end po

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.