A ‘don’t do it’ message over the possible dropping of IORP II legislation from the new European Commission’s work programme for 2015 has been issued by a prominent MEP. 

The wording, as expressed in a statement from the European Parliament’s Economic and Monetary Affairs (ECON) committee, quotes its chairman Roberto Gualtieri MEP as saying: “According to information we’ve received, the Commission is considering the possibility of withdrawing proposals on structural reform of the banking system and the revision of standards for occupational retirement funds.”

He adds: “Last October, the European Parliament clearly indicated to the Commission that the ECON committee would continue work on these proposals and asked the Commission to withdraw any proposal in the field of financial services.

“A possible withdrawal of these texts while negotiations are underway with the Council does not represent the best incentive for EU member states to achieve an agreement on the negotiating mandate in order to start discussions with the European Parliament.”

Gualtieri, a member of the S&D centre-left political party, has been a member of the European Parliament since 2009.

He was elected chair of ECON in July 2014.

Proposals for revisions to the original IORP Directive on occupational pension funds were adopted by the European Commission in March this year.

But the resultant revisions were classified as “under review” in an internal Commission document that came to light, unofficially, in late November.

The document outlined the Commission’s plans for its new Work Progamme (CWP) for 2015.

However, according to an informed pension insider, just because a legislative proposal has been listed as pending should not be taken as definitive. 

Around 100 others have been categorised similarly.

The CWP is due to be unveiled by Commission president Jean-Claude Juncker on 16 December.

This will be at a plenary session of the European Parliament, in Strasbourg.

Topics