Database on German and European Economic Law

 Directive 2003/41/EC

I. Description

The Lisbon European Council placed strong emphasis on the need to integrate financial ervices and markets within the Union. A single financial market will be a key factor in promoting the competitiveness of the European economy, the development of the new economy and social cohesion. That is why the Heads of State and Government called for the Financial Services Action Plan to be implemented by 2005. In its conclusions, the Presidency stresses that priority must be given to removing the remaining barriers to investment in the field of pension funds. Such funds play a major role in promoting social cohesion in many Member States and in financing Europe’s economy. In view of the ageing of the Union’s  population, it is vital to ensure that they can operate with maximum security and efficiency.

The security of pensions is of prime importance: the rights of future pensioners must be protected by strict prudential standards. However, attention must also be paid to the cost of pensions. If pension benefits are too expensive given low returns or excessive administrative constraints, everyone will lose out. The competitiveness of firms will be affected, it will be more difficult for the pension schemes to break even and pensioners might end up receiving smaller benefits.                                                                                                                                                                           

Consequently, this proposal for a Directive on institutions for occupational retirement provision is designed to strike the best possible balance between security and affordability.

II. General Information

Title

Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision

Status
Existing
Directive
2003/41/EC
Source
O.J. EC No L (Legislation), Edition 235, Year 2003, p.10
Adoption
06/03/2003
Promulgation
09/23/2003
Character
Lamfalussy Framework Act
Legal Basis
Art. 47 Abs. 2; Art. 95 Abs. 1; Art. 55 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

  2009/138/EC

Beschluss:
11/25/2009 (A)
Verkuendung:
12/17/2009 (P)

Original Text :
Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision

  2003/41/EC

Beschluss:
06/03/2003 (A)
Verkuendung:
09/23/2003 (P)
(A) Adoption | (P) Promulgation

2. Reformvorhaben

3. Legislative History

Datum
Typ / Titel
Textfassungen
Opinion of the European Economic and Social Committee
2001/C 155/07
10/11/2000
Proposal
COM(2000) 507 endgültig

4. CESR Level 2

RL 2003/41/EG
CESR/

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Reformvorhaben
3. Legislative History
4. CESR Level 2