(6)This Directive thus represents a first step on the way to an internal market for occupational retirement provision organised on a European scale. By setting the ‘prudent person’ rule as the underlying principle for capital investment and making it possible for institutions to operate across borders, the redirection of savings into the sector of occupational retirement provision is encouraged, thus contributing to economic and social progress.
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New version applies from 20/06/2013 — introduced by Directive 2013/14/EU.
42 provisions change.
Later versions: 13/01/2019.
Recital 6 changes in this version: compare with the current text.