EIOPA moves to close data gaps by revising reporting of occupational pensions

The European Insurance and Occupational Pensions Authority (EIOPA) has decided to revise the information it receives from national supervisors on occupational pensions, amending the system in place since 2018.
The revised decision, which will take effect on 1 January 2025, corrects inconsistencies that have been reported to EIOPA over the years and closes significant data gaps on emerging risks.
The major modifications from the previous system relate to better proportionality measures for small occupational pension funds, and the addition of details on:
+ high-level, look-through data on all investments in investment funds (including UCITS) as well as information on derivative positions to fully understand the risk exposures of institutions for occupational retirement provision (IORPs) and the products they invest in
+ cross-border data to accurately monitor cross-border relationships
EIOPA’s decision, which eases reporting requirements for small occupational pension funds by exempting IORPs with total assets under EU 50 million from all reporting requirements instead of the prior threshold of EUR 25 million, incorporates the proportionality principle. Furthermore, only IORPs with more than EUR 1 billion in assets under control will be required to comply with new data standards on the quarterly reporting of derivatives and cash flows.