PRESS RELEASE
PensionsEurope’s position paper on the IORP II review
BRUSSELS, 30 March 2026 – PensionsEurope today published its position paper on the proposed review of the European pension fund directive, IORP II, which covers institutions providing occupational pensions in many European countries. IORP II review is part of the European Commission’s legislative proposals published in November 2025.
Pension funds are long-term investors with the primary objective of delivering adequate pensions to their members and beneficiaries. Pension funds need a well-designed regulatory framework. In the European Union, pensions are based on unique cultural, historical, and political factors, and are deeply rooted in national social, labour, and tax laws. For this reason, it is vital that the IORP II review considers the existing diversity, respect the subsidiarity and proportionality rules, and avoid a one-size-fits-all approach.
Matti Leppälä, the Secretary General of PensionsEurope:
‘’ The proposal to review the IORP II directive would create additional burdens and obligations to pension funds. The review should aim to increase occupational pensions in Europe and improve the possibility of companies to offer their employees workplace pensions. Europeans need more funded pensions.’’
PensionsEurope will continue to engage with policymakers on the relevant issues in the process of the legislative process
Key messages of the position paper:
- The directive should remain a minimum harmonization directive.
- The scope of the directive should remain unchanged.
- The current supervisory framework is sufficient for the IORPs in the European Union.
- Information to Members and Beneficiaries should remain a national competence.
The full position paper is available here
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Please contact info@pensionseurope.eu
