WRITTEN QUESTION E-1869/03 by Christopher Huhne (ELDR) to the Commission. Pension losses.
Date: 2003-06-06
Institutions: European Parliament, Provisional data
Subjects: damage, employer, financial institution, labour law, pension scheme, social security, supplementary pension

27.3.2004

EN

Official Journal of the European Union

C 78 E/391

The reply by Commissioner Barnier was not entirely satisfactory since he referred me to replies from his
colleagues, omitting any mention of my query regarding the connection between landslides and seismic
activity in Greece. Can the Commission reply to this question and say whether it has carried out surveys of
seismic activity in the south-east Mediterranean containing forecasts or conclusions regarding the possible
future intensification of this phenomenon?

(1) See page 360.

Answer given by Mr Busquin on behalf of the Commission

(23 July 2003)

It is well known that certain landslides in Greece like the Malakassa slide in 1995 provoked the disruption
of road and railway links between Athens and Northern Greece for about four days. The risk of landslides
as a research issue was recognised in the 4th and 5th Community Research and Technological
Development (RTD) Framework Programmes and led to the funding of research projects under the theme
‘natural hazards’. The Sixth framework Programme foresees the continuation of funding research on
landslides under the priority ‘Global Change and Ecosystems’. Landslide research focuses on risk assessment
and mitigation with the aim of evaluating strategies for disaster reduction, while integrating the social and
economic impacts of disasters. One of the main aims of the Community funded research projects is the
study of the mechanisms provoking landslides; another objective is the monitoring of landslides using
there are also ongoing
remote sensing techniques and comparing them with infield information;
geotechnical investigations which study the subsidence problems.

In this context, the Community funded project ‘Segrodi’, which studied displacements of slopes caused by
It seems that important earthquakes can also cause slope slides.
earthquakes,
However,
there is no clear evidence of any forecast capability regarding the
intensification of the links between landslides and earthquakes in Greece.

is worth mentioning.

for the time being,

At present, there are some relevant studies being supported under the Environment Programme of the
5th RTD Framework Programme, the results of which are foreseen to be presented at the next Euro
Mediterranean Disaster Information Network (EURO-MEDIN) Forum which is expected to be held around
the end of 2004.

(2004/C 78 E/0414)

WRITTEN QUESTION E-1869/03

by Christopher Huhne (ELDR) to the Commission

(6 June 2003)

Subject: Pension losses

Is the Commission able to estimate the number of contributors to funded pension schemes who have been
adversely affected by employer decisions either to terminate such schemes entirely, or to fail to make up
the necessary level of contributions to assure defined benefits? Does the Commission believe that additional
measures to safeguard pension provision are necessary, and does the extension of the single market mean
that these should be at European level?

Answer given by Mrs Diamantopoulou on behalf of the Commission

(15 July 2003)

As this is a matter that falls within the responsibilities of the Member States and the two sides of industry,
the Commission does not have estimates of the number of contributors to funded pension schemes who
have been adversely affected by employer decisions either to terminate such schemes entirely, or to fail to
make up the necessary level of contributions to assure defined benefits. Such data is also likely to be
difficult to obtain at the national level.

C 78 E/392

Official Journal of the European Union

EN

27.3.2004

The Union has no powers that would allow it to restrict the freedom of employers and workers to change
occupational pension arrangements. Community legislation only requires Member States: ‘to ensure that
the necessary measures are taken to protect the interests of employees and of persons having already left
the employer’s undertaking or business at the date of the onset of the employer’s insolvency in respect of
rights conferring on them immediate or prospective entitlement to old-age benefits, including survivors’
benefits, under supplementary company or inter-company pension schemes outside the national statutory
social security schemes.’
(Article 8 of Council Directive 80/987/EEC of 20 October 1980 on the
approximation of the laws of the Member States relating to the protection of employees in the event of the
insolvency of their employer (1)). This does not prevent employers and workers to renegotiate pension
entitlements and their accrual.

As to the recently adopted Council Directive 2003/41/EC of 3 June 2003 on the activities and supervision
of institutions for occupational retirement provision (2),
it requires institutions to have sufficient and
appropriate assets to cover their technical provisions. The minimum amount of technical provisions must
be sufficient both for pensions and benefits already in payments and to reflect the commitments which
arise out of members’ accrued pension rights. The Directive, nevertheless, authorises Member States to
allow institutions to operate with some underfunding provided they adopt a concrete and reasonable
recovery plan to return to a level of full funding.

Member States will have 24 months after the publication in the Official Journal to adopt the laws,
regulations and administrative provisions necessary to comply with this Directive.

(1) OJ L 283, 28.10.1980.
(2) OJ L 235, 23.9.2003.

(2004/C 78 E/0415)

WRITTEN QUESTION E-1873/03

by Christopher Huhne (ELDR) to the Commission

(6 June 2003)

Subject: Listing requirements

Has the Commission made any proposal, or does it intend to make any proposal, that will limit the ability
of Member States to legislate for higher corporate governance or transparency requirements than in EU
directives and regulations if companies are to be listed on exchanges in their territory? Similarly, does the
Commission propose or intend to propose any measure that would circumscribe the listing requirements
to be imposed on companies from third countries?

Answer given by Mr Bolkestein on behalf of the Commission

(7 July 2003)

The question raised by the Honourable Member is very similar to the one he already raised as Written
Question P-2561/02 (1).

The reply given by the Commission to that previous question is also fully applicable to the present one.
In addition, the Commission wishes to make the following remarks:

As regards corporate governance, the Communication on Company Law and Corporate Governance
adopted by the Commission on 21 May 2003 (2) outlines the approach that the Commission intends to
follow in these areas. It includes an Action Plan, prioritised over the short, medium and long term, without
pre-empting the approach that will be applied (cid:1) as a result of the consultation opened until 31 August
2003 (cid:1) to each initiative announced, this Action Plan concerns directly only European companies.