The ECB launched a consultation on a draft Regulation on statistical reporting requirements for pension funds running until 29 September.
The ECB notes that “The effects of the financial crisis, the low interest rate environment and Europe’s ageing population have all highlighted the need for better quality, more granular and comparable data on this sector. Current gaps in the data available and the lack of comparability across countries make it difficult to gain a comprehensive understanding of the role of the sector in the transmission mechanism of monetary policy, of the cash flows and of the risks associated with pension obligations.”
The draft Regulation defines a harmonised statistical reporting population and the data to be provided by pension funds, ie outstanding amounts and transactions broken down by country, economic sector, maturity and the type of pension plan, as well as a detailed security-by-security reporting.
In parallel, EIOPA launched today a consultation on a single framework for the regular reporting of occupational pensions information running until 27 October. This initiative aims to streamline reporting with a comprehensive package of reporting templates to be filled by national authorities as well as a selection of IORPs.