Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • August 2013
08

EIOPA needs holistic balance sheet

Open-access content Wednesday 31st July 2013 — updated 5.13pm, Wednesday 29th April 2020

 

The final report from The European Insurance and Occupational Pensions Authority (EIOPA) following the quantitative impact study that was conducted into the proposals for updating the Institutions for Occupational Retirement Provision (IORP) directive in line with Solvency II left a number of questions unanswered. However, it highlighted the importance that EIOPA attaches to something resembling a holistic balance sheet for Europe's pension schemes. 

In describing the way forward, EIOPA said: "It is clear that a methodology like the holistic balance sheet is needed [to allow] for the specificities of occupational pension provision… The European Commission has announced that its forthcoming legislative proposal for a revised IORP directive will not cover solvency rules for IORPs and that further technical work in this area is necessary. In the coming months, EIOPA will set out a programme of work to better assess and compare IORP solvency, and to contribute to future decisions on European initiatives regarding the treatment of pension funds that appropriately address the issues of sustainability, adequacy and the security of pensions for present and future generations."

As a first step, a discussion paper has been published on sponsor support asking EIOPA's stakeholders 36 new questions about how best to put a financial value on the support available to IORPs from their sponsors. While this paper already references the work sponsored by the IFoA and presented at sessional meetings earlier in the year, the Pensions Board together with members of the executive staff will be working together to ensure the views of actuaries are fed into EIOPA by the 30 October deadline. 

This article appeared in our August 2013 issue of The Actuary.
Click here to view this issue
Filed in
08

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Pensions Actuarial Analyst

London, Midlands, Scotland
£Market Competitive
Reference
143788

Senior Manager/Director level roles - Life insurance

Stirling
Generous salary with excellent bonus and benefits
Reference
143787

Reinsurance Pricing Actuary

London (Central)
£60-90K depending on experience
Reference
143786
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ