IPE: EIOPA failed to plan for negative holistic balance sheet result

27 June 2012

The European Insurance and Occupational Pensions Authority (EIOPA) has neglected to plan for a "negative" result for the quantitative impact study (QIS) on the proposed 'holistic balance sheet' (HBS) approach, according to PGGM.

Niels Kortleve, innovation manager at PGGM, said EIOPA, in its consultation process on the QIS launched earlier this month, had missed the opportunity to evaluate the possible negative effects additional capital requirements could have on the pension fund industry. "What seems to be missing from the QIS is how EIOPA will react if the study on the capital requirements reveals a deep impact on occupational pensions", Kortleve said. "If those elements do not appear in the consultation process, the European Commission will be unable to consider the QIS properly."

Full article (IPE subscription required)

© IPE International Publishers Ltd.