EIOPA issues opinions on governance and risk management of pension funds
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published four Opinions to assist National Competent Authorities (NCAs) in the implementation of the Institutions for Occupational Retirement Provisions – the IORP II Directive:
The Opinion on the use of governance and risk assessment documents in the supervision of Institutions for Occupational Retirement Provisions (IORPs)
The Opinion on the practical implementation of the common framework for risk assessment and transparency for Institutions for Occupational Retirement Provisions (IORPs)
The Opinion on the supervision of the management of operational risks faced by Institutions for Occupational Retirement Provisions (IORPs)
The Opinion on the supervision of the management of environment, social and governance risks faced by Institutions for Occupational Retirement Provisions (IORPs)
Governance and risk management of pension funds are key activities to ensure the protection of pension scheme members. As a new provision of the IORP II Directive, the requirement to conduct an Own-Risk Assessment (ORA) has not only a significant impact on the governance and risk management systems of pension funds but also poses certain implementation challenges.
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