Today the European Insurance and Occupational Pensions Authority has issued a Statement on principles to mitigate the impact of Coronavirus/COVID-19 on the occupational pensions sector.
The statement recognises the stabilising role that institutions for occupational retirement provision (IORPs) can play as long-term investors in the current economic climate.
The statement, addressed to national competent authorities, outlines principles related to:
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Business continuity and operational risk
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Liquidity position
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Funding situation and pro-cyclicality
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Protection of members and beneficiaries; and
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Communication
EIOPA continues to work closely with national authorities to assess and mitigate the impact of the Coronavirus/COVID-19 on the insurance and occupational pensions sector.
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