Translation of "Caisse de retraite de participation aux bénéfices " (French → English) :

The Pensions Act 2004 created the Pension Protection Fund, to which pension funds generally have to contribute by paying an annual levy, unless they benefit from a Crown guarantee and are as a result exempted from this payment.

This would allow mobile researchers to contribute to the same supplementary pension fund while working in different EU countries and still comply with the different social, labour and pension legislation in the participating Member States.

31. acknowledges the challenge of ageing populations; emphasises the importance of collective second pillar occupational pensions in addition to proper solidarity-based first-pillar pension schemes, and endorses 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 as the specific regulatory framework for pension funds; urges the Commission to explore the possibility, within the framework of better regulation, and in order to promote supervisory convergence across the European Union and to prevent unequal treatment of mar ...[+++]ket players and distortions of competition, of supplementing that Directive with a harmonised solvency framework for pension funds in line with the Solvency II approach, in order to provide for advanced risk management techniques as well as disincentives for regulatory arbitrage by establishing equal supervision requirements both from a qualitative point of view, in terms of risk management standards, and quantitatively, as regards capital requirements ("same risk, same capital"), taking into account the specific features of occupational retirement provision; reiterates that such a legislative framework must be supported by the coordination of taxation, especially concentrating on the tax base;

31. acknowledges the challenge of ageing populations; emphasises the importance of collective second pillar occupational pensions in addition to proper solidarity-based first-pillar pension schemes, and endorses 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 as the specific regulatory framework for pension funds; urges the Commission to explore the possibility, within the framework of better regulation, and in order to promote supervisory convergence across the European Union and to prevent unequal treatment of mar ...[+++]ket players and distortions of competition, of supplementing that Directive with a harmonised solvency framework for pension funds in line with the Solvency II approach, in order to provide for advanced risk management techniques as well as disincentives for regulatory arbitrage by establishing equal supervision requirements both from a qualitative point of view, in terms of risk management standards, and quantitatively, as regards capital requirements ("same risk, same capital"), taking into account the specific features of occupational retirement provision; reiterates that such a legislative framework must be supported by the coordination of taxation, especially concentrating on the tax base;

30. acknowledges the challenge of ageing; emphasises the importance of collective second pillar occupational pensions in addition to proper solidarity-based first-pillar pension schemes, and endorses Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision as the specific regulatory framework for pension funds; urges the Commission to explore the possibility, within the framework of better regulation, in order to promote supervisory convergence across the European Union and to prevent unequal treatment of market players and distortions of competition, to supplement that Directive with ...[+++] a harmonised solvency framework for pension funds in line with the Solvency II approach, in order to provide for advanced risk management techniques as well as disincentives for regulatory arbitrage by establishing equal supervision requirements both from the qualitative point of view, in terms of risk management standards, and quantitatively, as regards capital requirements (‘same risk, same capital’), taking into account the specific features of occupational retirement provision; and reiterates that such a legislative framework must be supported by the coordination of taxation, especially concentrating on the tax base;

28. Focuses attention to the problems of crossborder participation or continuation in pension schemes, that are major barriers for labour mobility in the EU; emphasises in that context particularly the necessity of proposals to coordinate and regulate at European level the systems of taxation of pension schemes in the Member States; urges the Member States to continue with the harmonisation of fiscal systems in respect of supplementary pension schemes by reaching agreements on the tax deductibility of pension contributions and taxat ...[+++]ion of the final pension and urges the Commission to put forward as soon as possible a proposal for a directive concerning the taxation of pensions;