The European Insurance and Occupational Pensions Authority (EIOPA) has decided to revise the information it receives from national supervisors on occupational pensions, amending the system in place since 2018.

The new decision, which will be applicable as of 1 January 2025, closes important data gaps on emerging risks and fixes inconsistencies that have been reported to EIOPA over the past years, the Authority said.

The main changes compared to the previous regime concern better proportionality measures for small occupational pension funds and 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 – to fully understand the risk exposures of institutions for occupational retirement provision (IORPs) and the products they invest in;
  • cross-border data – to accurately monitor cross-border relationships.

EIOPA has incorporated the feedback it received from stakeholders during a public consultation, in particular regarding proportionality.

The new decision eases reporting requirements for small occupational pension funds, exempting IORPs with less than €50m in total assets from the full set of reporting as opposed to the previous threshold of €25m.

Moreover, new data requirements on the quarterly reporting of derivatives and cash flows will only be mandatory for IORPs with more than €1bn of assets under management.

The amendments make the reporting of occupational pensions information more proportionate and better fit-for-purpose. It will allow EIOPA to better identify and assess the risks, resulting in the improved protection of pension scheme members and beneficiaries.

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