Working Groups and Standing Committee
Working Groups
The working groups work together on relevant topics, by sharing views and best practices and will help in developing position papers, responses to consultations when deem necessary.
Working Group Accounting
The Working Group comments on IASB amendments to standards and engages with the EU process to adopt them. It also closely follows the work developed by the European Financial Reporting Advisory Group (EFRAG).
Working Group Financial Market Regulation
PensionsEurope established the Working Group Financial Market Regulation (FMR) in 2013 which deals with numerous financial market regulatory issues such as the impact of banking regulation on pension funds, financial market regulation, derivatives, benchmarks, and clearing issues. It also deals with tax issues such as the OECD’s tax reforms, the Financial Transaction Tax (FTT), and withholding taxes (WHT). With the ongoing digital transformation of the economy and the EC digital finance strategy launched in 2020, the FMR WG also addresses digital issues such as the Digital Operational Resilience Act (DORA) and the framework for financial access (FIDA).
Working Group IORP
The Working Group IORP focuses on pension policy issues and in particular on IORP’s regulatory issues. These notably include the implementation (including sharing best practices) of the IORP II Directive and its ongoing review, and IORPs’ reporting requirements. The WG has also led PensionsEurope’s work on the CMU actions on pensions (pension tracking services, pension dashboard, and auto-enrolment).
Working Group Long-term Sustainable Investment
The Working Group Long-Term Sustainable Investment was established following the European Commission’s Action Plan on Sustainable Finance (2018). Over the past years, there has been an increase in sustainable finance regulations and directives proposed at the EU level. This Working Group deals with the proposals impacting directly or indirectly pension funds, including the Taxonomy regulation, the Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD).
The Working Group Long-Term Sustainable Investment was established following the European Commission’s Action Plan on Sustainable Finance (2018). Over the past years, there has been an increase in sustainable finance regulations and directives proposed at the EU level. This Working Group deals with the proposals impacting directly or indirectly pension funds, including the Taxonomy regulation, the Sustainable Finance Disclosure Regulation (SFDR), and the Corporate Sustainability Reporting Directive (CSRD).
Working Group Personal Pension Products
Personal pension products are long-term savings products that individuals contribute to on a voluntary basis, complementing state and workplace pensions. They have a role to play in linking long-term savers with long-term investment opportunities. The Working Group is especially following the developments related to the introduction of a Pan-European Personal Pension Product (PEPP).
Personal pension products are long-term savings products that individuals contribute to on a voluntary basis, complementing state and workplace pensions. They have a role to play in linking long-term savers with long-term investment opportunities. The Working Group is especially following the developments related to the introduction of a Pan-European Personal Pension Product (PEPP).
Joint AEIP-PE WG Stress Testing
The main purpose of the joint WG of PensionsEurope and AEIP on Stress Testing is to discuss and provide expertise on EIOPA IORP stress testing-related issues, particularly on stress testing methodology. The WG prepares technical comments on EIOPA informal and formal consultations on IORP stress tests to be approved by the Boards of both associations (separately).
The main purpose of the joint WG of PensionsEurope and AEIP on Stress Testing is to discuss and provide expertise on EIOPA IORP stress testing-related issues, particularly on stress testing methodology. The WG prepares technical comments on EIOPA informal and formal consultations on IORP stress tests to be approved by the Boards of both associations (separately).
Standing Committee Future of Pensions
The purpose of the Standing Committee Future of Pensions is to help the Board with defining strategic policy on topics related to the future of occupational and personal pension schemes. It aims to proactively shape European pension policy. The world is changing and pension systems and EU policies on pensions need to be modernised to ensure that all people have good pensions. PensionsEurope SC on Future of Pensions aims to consider the current challenges affecting pensions and consider long-term solutions.
Aims and objectives:
- Consider and review all relevant developments in the area of occupational and personal pensions.
- Ensure that PensionsEurope acts as a thought leader on the strategic direction of pension policy at EU and global level, thereby raising the profile of PensionsEurope in relation to pension schemes and products.
- Follow and provide guidance and support under the supervision of the Board to the Working Groups that the Board has decided to set up.
- Prepare the strategic direction of PensionsEurope on matters relating to occupational and personal pensions.
- Consider investment issues relevant for pension providers.
- Contribute to PensionsEurope responses to strategic consultations relating to pensions and investment issues to influence the direction of policy in order to support and strengthen workplace pensions over the long term.
