PensionsEurope submitted on October 31 its position paper regarding the Commission’s proposal for a framework for Financial Data access (FIDA) which was published on June 28.
We indicated that FIDA should build on existing pension tracking services (PTS), to allow European citizens to continue having a holistic overview of their pension benefits including public pension rights. Building on PTS would avoid undermining existing PTS and those currently being implemented, especially regarding information and governance requirements which would be unnecessarily costly for data holders. Furthermore, we also added that experiences from other financial services such as payment services cannot be simply applied to the Institutions for occupational retirement provision (IORPs) which are included in the scope of this proposal and under a minimum harmonisation framework (i.e IORP II directive).
The proposal is now being scrutinised by the co-legislators. As it was issued late in the current legislative mandate, it will be under the next EP mandate that the file will be concluded.