IORP II: Big Change For Pensioners?

The Institutions for Occupational Retirement Provisions (IORPs) have evolved since the publication, in 2003, of Directive 2003/41/EC on their activities and supervision (the "IORP Directive"). Aiming to align the IORPs framework with the pensioners and investors' current needs, a final compromise was reached between the Council of the European Union and the European Parliament to review the text. Directive 2016/2341 on IORPS (IORP II) was published in the Official Journal of the European Union on 23 December 2016, and Member States must transpose it by 13 January 2019.

Main goals of IORP II

The minimum harmonisation foreseen under IORP II Directive is intended to:

• enhance proper governance and transparency, establishing information obligations in relation to pensioners and publicly disclosed corporate documents and policies