Many economists have predicted that, as a result of the result of the British referendum on EU membership, pension funds will be affected by negative yields in bond markets. This will result in people having to pay in more to their pension fund and receiving less.
This will particularly impact on the EU’s revised Directive on Institutions for Occupational Retirement Provision (IORP2), which has as its core principle enhancing cross-border rules, since those living and working along the Irish border region will be negatively affected. They are already economically worse off as a result of living along the border corridor, and this will worsen the situation.
Can the Commission state whether it has examined the impact of the Brexit vote on pension funds and how this will affect the overall economic situation, worsening poverty levels along the border corridor in Ireland, for citizens in both the north and the south of Ireland?