Activities and supervision of institutions for occupational retirement provision

23-10-2014

This note seeks to provide an initial analysis of the strengths and weaknesses of the Commission's Impact Assessment (IA) accompanying the proposal for the recast of the Directive on institutions for occupational retirement provision (IORP). IORPs are the so-called second pillar of the EU pension system, next to state pension and voluntary private pension schemes. IORPs manage assets for 75 million Europeans (20 per cent of the EU's working age population). This note, prepared by the Ex-Ante Impact Assessment Unit for the Committee on Economic and Monetary Affairs (ECON) of the European Parliament, analyses whether the principal criteria laid down in the Commission’s own Impact Assessment Guidelines, as well as additional factors identified by the Parliament in its Impact Assessment Handbook, appear to be met by the IA. It does not attempt to deal with the substance of the proposal. It is drafted for informational and background purposes to assist the relevant parliamentary committee(s) and Members more widely in their work.

This note seeks to provide an initial analysis of the strengths and weaknesses of the Commission's Impact Assessment (IA) accompanying the proposal for the recast of the Directive on institutions for occupational retirement provision (IORP). IORPs are the so-called second pillar of the EU pension system, next to state pension and voluntary private pension schemes. IORPs manage assets for 75 million Europeans (20 per cent of the EU's working age population). This note, prepared by the Ex-Ante Impact Assessment Unit for the Committee on Economic and Monetary Affairs (ECON) of the European Parliament, analyses whether the principal criteria laid down in the Commission’s own Impact Assessment Guidelines, as well as additional factors identified by the Parliament in its Impact Assessment Handbook, appear to be met by the IA. It does not attempt to deal with the substance of the proposal. It is drafted for informational and background purposes to assist the relevant parliamentary committee(s) and Members more widely in their work.