The European Commission's ability to apply results from the IORP Directive's first impact study to other pension funds has been questioned by the European Association of Paritarian Institutions (AEIP), which said the representative nature of the results was very limited.
The association also called on the European Insurance and Occupational Pensions Authority (EIOPA) to clarify the methodology it would use to compare the results and urged the regulator to detail how it would treat the volume of responses received in December. The AEIP argued that since only eight countries performed the exercise – and within that "only a few big pensions funds had the resources and knowledge to perform the calculations" – the results were "limited".
Additionally, the association stressed that the model presented in the QIS required each IORP to make "too many" subjective assumptions, even for the calculation of liabilities. "This might not only pose issues in the comparability of results between pension funds based in the same country, but also at European level", it said.
The AEIP also voiced concerns about the fact that national supervisor authorities were required by EIOPA to project the results collected at national level.
Position paper
Further reporting from IPE (registration required)
© IPE International Publishers Ltd.
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article