Posted: Tue May 25, 2021 8:59pm
If you enter the
Eu directive 2016/2341 during 2019.
Into Google it will explain what it is
Re where you worked if they are still operating ring them if not, relay the info to your accountant
What is IORP II?
Directive (EU) 2016/2341 on the activities and supervision of institutions for occupational retirement provision, widely referred to as IORP II,1 sets out minimum harmonization rules for financial institutions which manage collective retirement schemes for employers in order to provide retirement benefits to their employees (the scheme members and beneficiaries). Such schemes are private pension plans linked to an employment relationship (second pillar) and supplementary to (i) state-based social security pensions2, (first pillar) and possibly (ii) to any non-compulsory private pension savings by individuals3 (and not linked to an employee relationship – third pillar). ESG factors are important for the investment policy and risk management systems of IORPs and are discussed in more detail below.
Occupational pension funds were first regulated at European level by Directive 2003/41/EC, the directive on the activities and supervision of institutions for occupational retirement provision (IORPs). Under these rules, pension funds in one EU Member State can manage IORPs for companies based in another. Pan-EU companies can also have a single pension fund for all their European subsidiaries.4 IORP II is intended to improve the governance, transparency and help increase the cross-border activity of IORPs and thus strengthen the internal market.
Some 125,000 occupational funds operate across the EU. They hold assets worth €2.5 trillion on behalf of around 75 million citizens, representing 20 percent of the EU’s working-age population.5
IORPs will either typically appoint asset managers or insurance companies to provide them with tailor-made investment solutions for their portfolio or to invest in a variety of investment funds, be they undertakings for collective investments in transferable securities (UCITS) or alternative investment funds (AIF) for the benefit of their members or beneficiaries