25 April 2022
The European Insurance and Occupational Pensions Authority (EIOPA) launched today a public consultation regarding EIOPA’s regular information requests to national competent authorities (NCAs) for occupational pension information.
The aim of the public consultation is to improve the reporting by Institutions for occupational retirement provision (IORPs) focusing on emerging risks and new challenges and issues observed by NCAs and pensions industry since its first implementation in 2018.
In the consultation package EIOPA proposes to amend its current Decision by including the provision of the following information:
- Derivative information to assess actual hedging of various types of risks and how this impacts IORPs risks;
- Cash flow information to calculate comparable and market-consistent values of IORPs’ defined benefit liabilities;
- High-level look-through data on IORPs investments in UCITs to obtain a complete picture of IORPs assets and risk exposures;
- Cross-border data by host country to get an accurate picture of the cross-border relationships;
- Detail on the NACE code, allowing for better assessment of environmental, social and governance (ESG) risks.
Finally, alignment of taxonomies between reporting frameworks, where relevant, was also considered. The alignment is following the principles of the strategy on supervisory data in EU financial services defined by the European Commission and should ultimately lead to the reduction of costs for NCAs, reporting entities and EIOPA.
EIOPA invites stakeholders to provide comments to this public consultation via EU survey by 18 July 2022.