Recast occupational pensions directive (IORP II)

At a Glance 15-11-2016

The Institutions for Occupational Retirement Provision (IORP) Directive, from 2003, covers certain occupational pension savings. IORPs hold assets worth €2.5 trillion on behalf of around 75 million Europeans and are found mainly in the United Kingdom (55.9 % of IORP assets) and the Netherlands (30.7 %). Around a further 10 % of IORP assets are in Germany (4.5 %), Italy (2.8 %) and Ireland (2.4 %). The proposed revision (known as IORP II), to be debated during the Parliament's November plenary session, aims to improve the governance, risk management, transparency and information provision of IORPs and help increase cross-border IORP activity.