Michel Barnier, the European Union commissioner for financial services, said new pension-fund rules are “not yet spelled out” and expects to submit a revised directive on institutions for occupational retirement provision before the summer of 2013 rather than at the end of this year.

The European Commission, the EU executive in Brussels, wants to await quantitative impact assessments, Barnier said in the text of a speech in Amsterdam today.

The commissioner also said Solvency II rules for insurers should apply starting in January 2014.

To contact the reporter on this story: Maud van Gaal in Amsterdam at mvangaal@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net