EIOPA has launched a public consultation on its draft technical advice for the IORP II Directive.
EIOPA launched a public consultation on its draft technical advice for the review of the IORP II Directive, on Friday 3 March.
EIOPA had produced the draft advice in response to a request from the European Commission. It aims to ensure that the regulatory framework is updated as needed to embrace any future changes. EIOPA specifically names the shift from defined benefits to defined contributions and climate change challenges as two future changes.
The draft advice also aims to “protect the legacy” of the framework by addressing topics like risk assessment and liquidity risks.
The public consultation asks for responses from pension industry stakeholders on the following topics:
- Governance and prudential standards
- Cross-border activities and transfers
- Information to members and beneficiaries and other business conduct requirements
- Shift from defined benefit to defined contributions
- Sustainability
- Diversity and inclusion
Stakeholders who are invited to respond have until 25 May 2023 to give their opinions in the online survey.
EIOPA will give its final advice to the European Commission in October 2023.
