According to a report in an online journal, the proposed European pensions portability directive, masterminded by the European Commission, needs to be revised as critics warn of the risk of implementing the scheme.

Investment and Pensions Europe (IPE) reports in its online edition that the attacks on the EU’s planned pensions portability directive are becoming ever more sustained. In particular, it is tho8ght that some of the wording of the directive is ambiguous and could make it difficult to standardize employees’ pension rights across member states, the report says.

There is also a feeling among employers’ groups that tax issues and increased costs could dissuade some firms from offering pension rights to staff, the IPE report adds.

IPE cites Dutch MEP Ieke van den Burg as saying that, I am one of those who are rather critical [of the proposal]. It’s over-ambitious but has a lack of ambition. It needs to be re-examined.