On Feb. 10, EIOPA issued decision on pension information from NCAs.
EIOPA issued decision to close data gaps by revising occupational pensions information to be reported to it by national competent authorities (NCAs), following consultation.
Will make reporting more proportionate and better fit-for purpose, allowing EIOPA to better identify and assess risks, giving pension scheme members better protection.
Follows EIOPA Apr. 2022 pension information requests to NCAs plans, see #136007.
Decision
Decision closes data gaps on emerging risks and fixes long-standing inconsistencies.
Main changes, better proportionality measures for small occupational pension funds.
The inclusion of information on high-level look-through data on all investments in investment funds (including UCITs) as well as information on derivative positions.
And inclusion of cross-border data, to accurately monitor cross-border relationships.
Eases reporting requirements for small occupational pension funds, exempting those with less than €50mn total assets from full set of reporting, double previous threshold.
New data requirements on quarterly reporting of derivatives and cash flows only to be mandatory for occupational schemes with more than €1bn assets under management.
Effectiveness
The new decision will be applicable from Jan. 1, 2025.
