CEIOPS publishes reports on implementation of the IORP directive and funding mechanisms

Resource type: Legal update: archive

Status: Published on 08-Apr-2008

Jurisdictions: England, Scotland, Wales

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published two reports ahead of the European Commission's report on implementation of the IORP directive, expected later in 2008. The first report examines progress made by the various workstreams CEIOPS established in 2004 to consider the directive's implementation: the workstreams assessed areas where implementation may have given rise to differing approaches between member states. The key finding so far is that implementation has not given rise to major difficulties, although CEIOPS identifies several areas where clarification is needed from the Commission, including in relation to cross-border activity and ring-fencing of assets.

Additionally, CEIOPS has published a survey on the funding mechanisms used across the EEA. The survey reveals significant differences of approach between member states.

The CEIOPS reports follow a survey published by the European Federation for Retirement Provision in November 2007, which found that member states had generally welcomed the directive, but believed that the Commission's review was premature (see Legal update, EFRP publishes survey on the impact of the IORP directive and expresses concerns about Solvency II).

See Initial review of key aspects of the implementation of the IORP directive, CEIOPS, 31 March 2008 and Survey on fully funded, technical provisions and security mechanisms in the European occupational pensions sector, CEIOPS, 7 April 2008.

PLC Pensions

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  • Resource ID: 8-381-1743
  • Published: 08-Apr-2008
  • Products:  PLC UK Pensions
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Legal update: archive
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