EUROPE – The European Insurance and Occupational Pension Authority (EIOPA) has launched a public consultation on new technical standards for reporting procedures, formats and templates related to occupational pensions.
EIOPA said national authorities would use these technical standards, which will be made public on its website, when submitting information to the authority.
EIOPA said the standards would ensure a uniform means of reporting on prudential pensions provisions.
"This will result in having a centralised source of information at EU level on national provisions of prudential nature, which may in turn improve the transparency and comparability of prudential frameworks," it said.
The launch of the technical standards comes after two public consultations on the review of the IORP Directive carried out in 2011-12.
EIOPA said some stakeholders had identified a "lack of clarity" on prudential legislation and its interaction with social and labour law as "significant obstacles" to IORP cross-border activity.
Interested parties will have until 10 March 2013 to respond to the consultation paper.
EIOPA said it would review the responses and aim to publish a final report on the consultation by 30 June 2013.
The draft technical standards are to be submitted to the European Commission for endorsement by 1 January 2014.