EIOPA and ECB Pension Fund Reporting – Are you ready? We are!

In our latest insight we talked about changes to pension fund reporting regulations and how we now support the production of these new templates for our clients.  Here is what you need to know:

What is happening?

The European Insurance and Occupational Pensions Authority (“EIOPA”) and the European Central Bank (“ECB”) have introduced new reporting requirements for pension schemes.  These new regulations will primarily affect Asset Managers, who are now responsible for completing and submitting the new templates.

What are the new regulations for?

The ECB regulation aims to improve the quality of data reported by pension schemes. It applies to workplace pension funds and private pension funds. Large pension schemes are required to submit detailed data on assets, liabilities and their members on both a quarterly and annual basis to their relevant National Competent authority (“NCA”).

The EIOPA regulation hopes to result in better monitoring and assessment of market development in the occupational pension sector, with a particular focus on investor protection and financial stability. This regulation only applies workplace pension funds (Institutions for occupational retirement provision (“IORPs”)). They are required to provide balance sheet information, list assets and look -through data on collective investment undertakings.

What does this mean for Asset Managers?

For your segregated accounts/investment mandates: these assets are held directly by your pension fund investor and so you may be required to provide them with statistical data on the list of assets and investment income on a quarterly and annual basis.

EIOPA and ECB pension fund reporting time frame
EIOPA and ECB pension fund reporting time frame

EIOPA have defined reporting templates to compile and distribute the necessary information to the NCAs. These templates also capture the ECB reporting requirements.

The format and fields of the new template are very similar to the now well-established Solvency II template. FundsLibrary understands the complexities of Solvency II data requirements and we already offer a fully comprehensible and flexible solution. Leverage our deep expertise in this area and allow us to assist you with your pension fund reporting requirements.  

Please get in touch if you would like to know more about our constantly evolving suite of reporting tools.

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All figures correct as at 30.09.2019.