PensionsEurope’s brochure on supervisory reporting discusses appropriate reporting requirements for pension funds. It stresses that relevant and comparable information about pensions in Europe is needed, but the requirements need to be fit for purpose, as all costs will ultimately be paid by pension fund members and/or any associated plan sponsor (the members’ employer).
Pension funds are, first and foremost, institutions with a social purpose active on the financial markets. Therefore, they cannot be compared directly to financial institutions such as banks and insurers. A one-size-fits-all approach to applying European legislation and supervisory requirements to pension funds would be detrimental as it would not consider the heterogeneity and complexity of the different combined first and second pillar systems.You can find the press release here.