IORP II Directive in doubt as Juncker puts proposals 'under review'

The European Commission’s proposal for a revised IORP Directive, which will replace the occupational pensions Directive passed in 2003, has now been listed as “under review” in Brussels.

The decision was announced in connection with the Commission’s new Work Programme (CWP) for 2015.

The proposal for the revised version of the Institutions for Occupational Retirement Provision (IORP) Directive came out in March this year after a number of notable delays.

The latest development emerges in an annex to a letter signed by Jean-Claude Juncker, president of the European Commission, and Frans Timmermans, first vice-president.

The letter is addressed to Martin Schulz, president of the European Parliament, and Matteo Renzi, president the Council, which represents EU national governments.

The Commission’s revised plans for occupational pensions were included under a list headed by the words “review of pending proposals”.

According to the letter, the CPW aims to produce a work programme that focuses on “the main projects”.

It also seeks to cover “withdrawals of pending proposals (WWPs), applying the principle of ‘political discontinuity’ as appropriate”.

An aim of the letter – dated 7 November and seen by IPE – is to see the adoption of the WWP on 16 December in Strasbourg.

It describes this deadline as “ambitious” but demonstrating a “determination to generate early momentum.”

Major initiatives for inclusion in the CWP are described as having political guidelines to boost jobs, growth and investment. 

The European Commission has described the proposed IORP II Directive as “aiming at improving governance and transparency of the funds, at promoting cross-border activity and helping long-term investment”.

The main subject areas to be promoted in the CWP, as listed in annexes to the letter, are labour mobility and a “review of the Posting of Workers Directive”, as well as a capital markets union and proposals to deepen the European Monetary Union.

Also listed are a connected digital single market, copyright modernisation, a new European energy union and other proposals, including a new policy on migration. 

Under review, along-side the IORP II, are a VAT standard return form, and the European Foundation Statute.