EIOPA publishes draft technical specifications for the QIS of its final advice on the IORP Directive review

The European Insurance and Occupational Pensions Authority (EIOPA) has
published today draft technical specifications for the quantitative impact
study (QIS) of EIOPA's advice to the European Commission (EC) on the
review of the IORP Directive. The advice recognises the importance of
performing a QIS and remains conditional on the results of the study.

Between 15 June and 31 July 2012 EIOPA conducted a public consultation on
the draft technical specifications for the QIS and received 117 responses
from Belgium, France, Germany, Ireland, Italy, the Netherlands, Sweden and
the UK as well as from several European and international organisations.
41% of all the responses were submitted by employers, 24% by pension funds
and the remaining 35% of feedbacks originated from other organisations,
such as trade unions, insurers, actuarial consultants and asset managers.

The Occupational Pensions Stakeholder Group of EIOPA also submitted its
opinion on the draft technical specifications (Link:
https://eiopa.europa.eu/fileadmin/tx_dam/files/Stakeholder_groups/opinions-feedback/20120801-EIOPA-OPSG-Opinion-CP-003-12-QIS-TS-IORPII.pdf
).

The consultation responses have been carefully considered and in some cases
the technical specifications were adjusted in the light of the comments
and suggestions received. EIOPA identified a number of areas in the
technical specifications that needed to be further developed and tested in
follow-up QIS exercises. A reasoned feedback on all the (non-confidential)
responses has been made available on EIOPA's website.

The draft technical specifications have been submitted to the European
Commission (The Internal Market and Services Directorate General). The EC
will consider the contents of the draft technical specifications and –
after possible amendments – will take ownership of the final technical
specifications.

The QIS exercise is expected to start in the first half of October and run
until mid-December 2012. EIOPA plans to publish the results of the QIS in
the second quarter of 2013.

The draft technical specifications, the responses to the public
consultation as well as EIOPA's reasoned feedback can be viewed here:
https://eiopa.europa.eu/consultations/consultation-papers/2012-closed-consultations/june-2012/cp-0032012-draft-technical-specifications-for-the-qis-of-eiopas-advice-on-the-review-of-the-iorp-directive/index.html
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/2012-closed-consultations/june-2012/cp-0032012-draft-technical-specifications-for-the-qis-of-eiopas-advice-on-the-review-of-the-iorp-directive/index.html
)




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