Sections

Portability 'problematic'

The EU’s proposed directive on the portability of supplementary pension rights is “very problematic” due to issues about tax and supervision, according to the European Parliament’s ‘rapporteur’ for the measure. The proposal was unveiled in October last year after some delays.
Now Irish MEP Eoin Ryan says the plan leaves behind the key area of taxation and oversight.
“The proposed directive aims at improving portability of supplementary pension rights by removing obstacles to the freedom of movement of workers within the EU,” according to the Parliament’s Economic and Monetary Affairs Committee newsletter.
“Specifically, the proposal tackles the system of acquisition, transferability issues, preservation of dormant pension rights, disclosure and information, leaving behind however an important issue of tax treatment of cross-border contributions and transfers.
“Also, the proposal does not address the supervisory issues as defining the competent supervisory authority is at this stage very problematic.”

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

Begin Your Search Here