Ius Laboris responds to EU Green Paper on Pensions

Ius Laboris, the global alliance of leading Human Resource law practitioners – of which Sackers is a member – has responded to the EU’s Green Paper on pensions, after taking the views of its pensions specialists throughout the EU.

The pensions practitioners believe obstacles to workers' mobility throughout the EU could be further removed by amending the Directive on Institutions for Occupational Retirement Provision on four issues.

An Van Damme, of Claeys & Engels Belgium and Marthe van den Broek, of Bergamin & Gielink The Netherlands, both member firms of Ius Laboris, commented:
“We make three key recommendations:

• firstly, a clarification of the definition of ‘cross-border activities’ which has been interpreted very differently in different jurisdictions;
• secondly, a better definition of ‘social and labour law’ and a requirement that Member States clearly communicate the scope of their social and labour provisions;
• and lastly, some further description, under the form of guidelines, as to what a prudent funding level should look like, without increasing the buffer requirements. In our view, Solvency II is not suitable for pension funds.”

Ius Laboris is a global body of comprising over 2,500 Human Resources law practitioners, including many pensions law specialists based in Europe.

The consultation period for the EU Green Paper closed on Monday 15 November 2010.

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