Babies & Bathwater – Preliminary QIS results for IORP 2

11 April 2013 The European Insurance and Occupational Pensions Authority (EIOPA) has been tasked by the European Commission with establishing a new framework for the Europe-wide regulation of pension schemes – IORP 2. The most controversial aspect of their consultation work to date is the calculation of scheme solvency and how best to include a quantitative estimation of the value of sponsor support. Much media coverage has already focused on the additional costs that might need to be incurred by sponsors and speculation about how this project, if implemented badly, could serve as the final nail in the coffin of…

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Solvency 2 : Draft Technical Specifications; QIS of EIOPA’s Advice on the Review of the IORP Directive

21 June 2012 The European Commission has asked the European Insurance and Occupational Pensions Authority (EIOPA) to review the 2003 European Directive for the activities and supervision of Institutions for Occupational Retirement Provision (IORP). The outcome of this process is likely to drive the shape of the UK pensions industry for at least the next ten years and is therefore of vital importance. EIOPA has been criticised in the media for not providing any form of impact analysis for their recommendations; this is an important part of any European legislation and is highly relevant as the stated aims of the…

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Response to Call for Advice on the review of Directive 2003/41/EC – Solvency 2

1 November 2011 The European Commission has asked the European Insurance and Occupational Pensions Authority (EIOPA) to review the 2003 European Directive for the activities and supervision of Institutions for Occupational Retirement Provision (IORP) – Solvency 2. The outcome of this process is likely to drive the shape of the UK pensions industry for at least the next ten years and is therefore of vital importance. On 25 October, EIOPA issued a comprehensive paper: “Response to Call for Advice on the review of Directive 2003/41/EC: second consultation” into a consultation period that will run through until 2 January 2012 and…

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