{"id":13158,"date":"2013-05-23T16:22:00","date_gmt":"2013-05-23T16:22:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=015918274c1b837fb9739a19832284dc"},"modified":"2013-05-23T16:22:00","modified_gmt":"2013-05-23T16:22:00","slug":"press-release-uk-welcomes-eus-change-of-heart-on-damaging-plans-for-solvency-ii-pensions-rules","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=13158","title":{"rendered":"Press release: UK welcomes EU\u2019s change of heart on \u201cdamaging\u201d plans for Solvency II pensions rules"},"content":{"rendered":"
\n

The UK<\/abbr> government has welcomed an announcement today by EU<\/abbr> Commissioner Barnier that he would postpone his plans to introduce Solvency II-style rules for defined benefit pension schemes.<\/p>\n

The commissioner said he will not present proposals this autumn to bring in new capital requirements for occupational pensions, though he would focus on governance, transparency and reporting requirements.<\/p>\n

Minister for Pensions Steve Webb said:<\/p>\n

\n

This is a welcome move by the commissioner, and is hopefully a sign he may eventually abandon his damaging and reckless plans altogether.<\/p>\n

Introducing Solvency II-style rules for defined benefit pension schemes would push up liabilities by up to \u00a3400 billion, harming businesses\u2019 ability to invest, grow and create jobs, and put more schemes at risk.<\/p>\n

The UK<\/abbr> has been making the case against the plans for some time, with growing international agreement. The signs are we are winning the argument.<\/p>\n<\/blockquote>\n

More information<\/h2>\n

Download EIOPA<\/abbr>\u2019s preliminary impact assessment of the proposals<\/a> (log in required).<\/p>\n

Report on the estimated impact of the EU<\/abbr> proposals<\/a> commissioned by the DWP<\/abbr>, and carried out for the UK<\/abbr> Government by The Pensions Regulator. <\/p>\n

\n
\n

Press Office<\/h2>\n
\n
\nCaxton House
\n
\nTothill Street<\/span>
London<\/span>
SW1H 9NA<\/span>\n<\/div>\n
\n

\n London Press Office (national media and London area enquiries only)<\/span>
\n 020 3267 5144\n <\/p>\n

\n Out-of-hours (journalists only)<\/span>
\n 076 59 108 883\n <\/p>\n

\n England and Wales (local media enquiries)<\/span>
\n 029 20 586 then 097or 098 or 099\n <\/p>\n

\n Scotland (local media enquiries)<\/span>
\n 0131 310 1122\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Media enquiries for this press release 0203 267 5116
\nFollow us on Twitter www.twitter.com\/dwppressoffice<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The government welcomes the EU announcement to postpone the introduction Solvency II-style rules for defined benefit pension schemes.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/13158"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13158"}],"version-history":[{"count":1,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/13158\/revisions"}],"predecessor-version":[{"id":13172,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/13158\/revisions\/13172"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}