Pension funds in Europe : new reporting requirements (ready for Q3 2019 ?)

 

Pension funds will soon have to comply with new reporting requirements defined by the European central bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA). The objectives of ECB and EIOPA is to improve the monitoring of the pension funds entities in a context of an aging population (liability) and low asset yields (assets).

The official texts defining these new requirements are :

• EU Directive 2016/2341 (IORP – Institutions for Occupational Retirement Provision Directive)
• Delegated regulation 2018/231 (for ECB reports)
• EIOPA Decision of the Board of Supervisors 10 April 2018 (with, for France, ACPR – instruction-2019-I-05)

New reporting requirements are close to the existing Solvency II requirements, which should reduce the setup workload to produce these reports.

Pension Funds reporting templates can be downloaded here:
https://dev.eiopa.europa.eu/Taxonomy/Full/2.3.0/PF/EIOPA_PensionFunds_DPM_Annotated_Templates_2.3.0.xlsx

[ for information, Solvency II Reporting Templates are:
https://dev.eiopa.europa.eu/Taxonomy/Full/2.3.0/S2/EIOPA_SolvencyII_DPM_Annotated_Templates_2.3.0.xlsx ]

A dry run will be performed as of 30 September 2019, the first reports will be produced as of 31 December 2019.