It has been another couple of days of announcements in the ever-changing world of pensions.

While the focus lay on the Treasury’s publicity drive over its Budget 2014 reforms, European pensions authorities issued a consultation on the holistic balance sheet and the UK government a consultation on governance in local authority pensions.

Solvency II by another name?

Yesterday, the European Insurance and Occupational Pensions Authority issued a consultation on solvency for pension schemes, which looks at the holistic balance sheet and solvency requirements for schemes.

The European commission had previously pushed back the solvency requirements, however the consultation gives consideration to the value of employer covenant and how solvency requirements might be applied.

EIOPA consultation paper

Source: EIOPA

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