Pensions Europe submitted on 25th May 2023 its response to EIOPA’s consultation on technical advice for the review of the IORP II Directive today, on 25 May 2023.
Int the answer, PE welcomes EIOPA’s perspective, acknowledging that the review of IORP II takes place shortly after the Directive’s implementation, making it premature to suggest any significant revisions at this stage.
Key takeaways include:
• The IORP II Directive should remain a minimum harmonization legislation.
• The IORP II Directive must be highly compliant with the principles of proportionality and subsidiarity.
• Changes in cross-border rules should not have any negative impact on non-cross-border IORPs.
• Communication to members and beneficiaries can be improved and National Pension Tracking Services are a viable option.
• Any new requirement on sustainability, diversity and inclusion, should be tailored to the specificities of IORPs.
The press release and Pensions Europe reply to EIOPA are attached below: