I. General Information
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
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.
|Source||O.J. EC No L (Legislation), Edition 235, Year 2003, p.10|
|Character||Lamfalussy Framework Act|
|Implementation|| Regulation (EU) Nr. 643/2014
|Legal Basis||Art. 47 Abs. 2; Art. 95 Abs. 1; Art. 55 EC|
|Legislative Procedure||Codecision procedure|
|Background|| Financial Services Action Plan - FSAP
II. Rahmenrechtsakt (Level 1)
|Directive 2003/41/EG amended by|
Directive 2013/14/EU of the European Parliament and of the Council of 21 May 2013 amending Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision, Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) and Directive 2011/61/EU on Alternative Investment Funds Managers in respect of over-reliance on credit ratings
| Ältere Textfassungen
Directive of the European Parliament and of the Council on the activities and supervision of institutions for occupational retirement provision (recast)Repeal Directive 2003/41/EG
3. Legislative History
|05/29/2001||Opinion of the European Economic and Social Committee||2001/C 155/07|
|10/11/2000||Proposal||COM(2000) 507 endgültig|
III. Implementing / Legislative Act (Level 2)
| (EU) No 643/2014
Commission Implementing Regulation (EU) No 643/2014 of 16 June 2014 laying down implementing technical standards with regard to the reporting of national provisions of prudential nature relevant to the field of occupational pension schemes according to Directive 2003/41/EC of the European Parliament and of the Council