Pensions - Articles - EIOPA launch public consultation for occupational pensions

 EIOPA invites all interested parties to provide their feedback on any aspect of draft implementing technical standards (ITS) on reporting procedures, formats and templates that will be used by competent authorities when submitting relevant information to EIOPA. This information comprises these national provisions of prudential nature which are relevant to the field of occupational pension schemes and in the same time are not covered by the reference to national social and labour law in Article 20(1) of the same IORP Directive (2003/41/EC).

 The draft implementing technical standards seek to ensure a uniform way of reporting on prudential provisions by authorities to EIOPA. In addition, EIOPA will make this information available on its website. This will result in having a centralised source of information at EU level on national provisions of prudential nature, which may in turn improve the transparency and comparability of prudential frameworks.

 During the two public consultations on the review of the IORP Directive carried out in 2011-2012, a lack of clarity on prudential legislation and its interaction with social and labour law were identified by some stakeholders as significant obstacles to cross-border activity of IORPs.

 The consultation will end on 10 March 2013, at 18.00 HRS CET.

 Comments should be submitted via email to CP-12-005@eiopa.europa.eu. Please note that comments submitted after the deadline or not submitted on a provided template cannot be processed.

 EIOPA will consider the feedback received and expects to publish a final report on the consultation by 30 June 2013. It is envisaged that the draft ITS will be submitted to the European Commission for endorsement by 1 January 2014.

 The Consultation Paper and the template for comments can be viewed on the EIOPA website.