PensionsEurope shares the goal of the so-called IORP II Directive to facilitate the development of occupational retirement savings and to provide sustainable and adequate occupational pensions to the European citizens.
The IORP II Directive sets common standards ensuring the soundness of occupational pensions and better protects pension scheme members and beneficiaries, by means of among others: (i) new governance requirements, (ii) new rules on IORPs’ own risk assessment, (iii) new requirements to use a depositary, and (iv) enhanced powers for supervisors.
The final text of the IORP II Directive was published in the Official Journal of the European Union on 23 December 2016. You can find the text and all language versions of the IORP II Directive here (and the original IORP Directive here).
EU countries must transpose the new rules into their national law by 13 January 2019.
PensionsEurope shares the best practices on the implementation of the IORP II Directive and you can read our further remarks about the IORP II Directive here.