European pension proposals could cost UK business 450 billion pounds

By Sarah Mortimer LONDON (Reuters) - British businesses could face a 450 billion pound bill as a result of plans to force pension funds to protect themselves from risk with extra capital, data from Europe's insurance and pensions watchdog showed. This could hamper companies' ability to invest and also force some pension schemes to close. The estimate from the European Insurance and Occupational Pensions Authority (EIOPA) shows the impact of new capital requirements on final salary-linked pension schemes, where benefits are based on salary and duration of employment. ...

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