Standard Life has issued a release saying that its lawyers believe that EU pensions proposals may restrict pension funds from borrowing money or taking out a mortgage.
What many people may not be aware of is that many Self Invested Personal Pensions Plans and directors Small Self Administered Pension Schemes use the monies that they have in their funds as well as taking out a pension mortgage to buy property, frequently the factory or office that you work in is owned by the business owners pension scheme.
Our view
The EU is 30 years behind the UK in terms of financial services! Some countries have only just, this year, introduced stockmarket linked savings plans i.e. similar plans to managed endowments or unit trusts and OEICs.
Some do not even recognise "trusts". How can they pass laws on things they do not understand. A move such as this will only damage our economy.