Launch of 2025 EU-wide stress test of occupational pension schemes

The European Insurance and Occupational Pensions Authority (EIOPA) launched its fifth EU-wide stress test for pension schemes (IORPs) on Monday 7 April 2025. The 2025 stress test will focus on the impact of adverse market developments on the liquidity position of IORPs. A limited number of Irish pension schemes are required to participate in this exercise.

The stress test is a triennial exercise designed to assess the resilience and potential vulnerabilities of the European defined benefit (DB) and defined contribution (DC) pension sectors. The 2025 stress test covers member states with IORP sectors exceeding EUR €600 million, including Ireland.

In line with EIOPA’s specifications, the Pensions Authority has selected larger Irish pension schemes for participation in the 2025 exercise. The Authority has already made contact with each selected scheme. The stress text instructions, reporting templates and other relevant documentation can be found here. Selected schemes must submit their reporting templates to the Pensions Authority by 11 July 2025.

Q&A process

From 21 April for 5 weeks, participating schemes can send any questions they have about the stress test instructions to international@pensionsauthority.ie using the designated Q&A template for participants available on EIOPA’s website. Questions and answers of general interest will be published by EIOPA on a weekly basis during this 5-week period. The deadline for submitting questions is 19 May.