EIOPA Consults on Information Requests on IORPs
EIOPA published a consultation paper (EIOPA-CP-17-005) on its regular information requests toward the national competent authorities regarding provision of occupational pensions information. This paper sets out the common reporting formats, along with the relevant scope of the reporting, Comments are due by October 27, 2017.
The annual request will include the provision of aggregated information at the level of member states, covering general information, balance sheet information, list of assets and investment funds, and changes in technical provisions. The quarterly request will focus on investment information. Similar to the annual request, the information will include aggregated information at the level of member states and for a very limited set of Institutions for Occupational Retirement Provision (IORPs). According to Article 35 of Regulation (EU) No 1094/20102, EIOPA requests information from the national competent authorities at recurring intervals and in specified formats with regard to the provisions of Directive (EU) 2016/2341. The reporting requirements apply to all national competent authorities that are responsible for the supervision of arrangements or activities subject to Directive (EU) 2016/2341 and the European Economic Area EFTA members of the Board of Supervisors of EIOPA to the extent to which Directive (EU) 2016/2341 is binding on them.
EIOPA proposed that the reporting requirements enter into force on December 31, 2018, so that the first annual reporting of end 2018 data is carried out in 2019. The reporting deadlines are to be aligned with those set by the ECB. The national competent authorities are required to report the contents of all reporting templates, unless stated explicitly that the information only applies to aggregate reporting, individually for the information of selected, specified IORPs.
Related Link: Consultation and Related Documents
Comment Due Date: October 27, 2017
Keywords: Europe, EU, Insurance, IORP, Occupational Pensions, Reporting, EIOPA
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