EIOPA · 73
73
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2014-07-04
- Answered
- 2019-10-29
Question
Classification of IORP/OFS entities. From the ‘Directive 2003/41/EC’, it is not fully clear whether we should classify an entity as a IORP or OFS entity. Could we get more guidelines regarding the classification? The following is not clear from the IORP directive: 1) The exclusion of the scope affects the entities within our group, 2) 3rd pillar pension funds are not considered as IORPs, 3) The distinction between the pillars is unclear.
Answer
In the draft DA (not publicly available yet) OFS entities include institutions for occupational retirement provision (IORPs) which fall under the scope of the Directive 2003/41/EC.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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