EIOPA published the results of its 2017 IORP stress test on 13 December 2017 and made very strong allegations about the healthiness of IORPs based on its own theoretical model that has not been adopted by the EU or any member state. The actual prudential rules that are in place at national level do not support EIOPA’s findings. The differences in findings highlight how EIOPA’s model is not fit for purpose. Read more in the PensionsEurope press release.
According to PensionsEurope statistics 2017 our Member Associations represent:
- Pension funds: €3549 billion assets and 65 million Members and 27 million Beneficiaries;
- Book reserves: €334 billion assets and 10.2 million people;
- Group insurance: €61 billion assets and 7.7 million people;
- The 3rd pillar personal pensions: €139 billion assets and 16.3 million people.
You can find the PensionsEurope statistics 2017 here
PensionsEurope welcomes that the ECB, EIOPA, Eurostat, and OECD try to align their reporting standards for pension funds. We encourage them to align all the reporting standards together with the national competent authorities as much as possible. We support the principle to leave a lot of flexibility to the Member States in the process of data collection and distribution. A starting point should remain the so-called ‘one-stop-shop’-concept, and considering the amount of information already available, the NCAs should play a central role therein. Please find PensionsEurope answer to the EIOPA consultation here.