EUROPE – The European directive on supplementary pensions may not be ratified by the Parliament until the end of the summer, following a delay in the adoption of the Karas report in the European Monetary Affairs Committee (EMAC).

In a statement, EMAC says the Karas report is not expected to be put forward for consideration until the summer, due to the postponement until April 26 of a deadline for further amendments.

The provisional timetable for adoption of the rapporteur’s findings by EMAC had suggested a May 29 vote, which would have made it possible to put before a plenary of the Parliament in June/July.

The EMAC statement says the late amendment date suggests a likely vote on the report in June/July, although a revised timetable has yet to be drawn up.
This will almost certainly push back the date for full consideration by the Parliament.