The European Insurance and Occupational Pension Authority (EIOPA) is in the process of reviewing the directive on the Institutions for Occupational Retirement Provision (IORP directive). The aim is to ensure European regulatory consistency across sectors and enhance protection of members and beneficiaries.
In this context, on June 15, 2012 EIOPA released its consultation paper on the draft technical specifications for a Quantitative Impact Study (QIS). The aim of this QIS exercise is to assess the possible impact on capital requirements for pension funds under the future regulatory framework.
This article summaries key points of the future QIS exercise and considers some important aspects of the Belgian market.