INTERVIEW WITH MATTI LEPPALA, CHIEF EXECUTIVE, PENSIONSEUROPE : 'RISK EVALUATION OF PENSION FUNDS IS ONE OF OUR MAJOR PROBLEMS'.

The Commission is set to propose revising the rules on pension funds, with a view to enhancing their role in financing the economy

In this interview with Europolitics, Matti Leppala, chief executive and secretary-general of PensionsEurope, lays out his point of view on the review of Directivea2003/41/EC on institutions for occupational retirement (IORP), which is due on 27 March. This review is one of several actions to boost funding for European growth that the Commission will present that day.

Are you happy with the fact that the issue of solvency is not expected to be included in the review?

We have been very much against the idea of establishing for pension funds and other institutions for occupational retirement provision (IORPs) a European risk-based capital requirement framework similar to the one set out in the Solvency II legislation for insurance companies. If we want to have long-term investments into what is in such solvency frameworks considered risky areas, such as infrastructures or listed companies or venture capital, and if pension funds are...