Institutions for Occupational Retirement Provision (IORP II) is the new directive for pension funds. The directive will come into force in Dutch law by 13 January 2019 at the latest. This year, pension institutions are expected to make the necessary preparations.
What is IORP II?
IORP II is a European guideline for pension funds and institutions. IORP II is a follow-up to the IORP implemented in 2003. The aim of the new directive is to further promote cross-border activities, promote risk-based supervision and improve the governance and transparency of pension funds.
Among other things, this guideline sets new requirements for the governance of pension funds and requires funds to report on how the (environmental, social and governance) ESG factors are integrated into the investment cycle. IORP II also has new guidelines and detailed regulations for communication of pension funds. Would you like to know more about the requirements of IORP II and the impact on your fund?