EIOPA and ECB reporting requirements

EIOPA and ECB reporting requirements

New reporting requirements for pension schemes were introduced in 2018 by the European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB). Under these requirements:

  • large pension schemes need to report detailed data on assets, liabilities and members on a quarterly and annual basis, and
  • smaller schemes need to report summary data annually.

Details of the current EIOPA reporting requirements are set out in the Decision of the EIOPA Board of Supervisors dated 2 June 2020 (this amends the EIOPA Decision adopted in 2018).

Irish pension schemes are not currently required to submit the data required by EIOPA to the Pensions Authority. Certain Irish pension schemes are however required to submit data to the Central Bank of Ireland for the purposes of meeting the ECB data requirements. Details of the Central Bank’s reporting requirements can be found here.

While the Authority is not routinely collecting the EIOPA data, it may contact a small number of large Irish pension schemes directly to request certain information required by EIOPA. The details of any such request will be notified directly to the selected pension schemes in advance.

The Authority will communicate further once the arrangements for the reporting of data to EIOPA are finalised and will provide adequate notice to trustees of any additional requirement to report data to the Authority, taking into account the technical and practical issues involved.

Trustees and registered administrators are reminded of their continuing obligation under the Pensions Act to provide annual scheme information to the Authority (i.e., the data listed in schedule J of the Irish pension schemes disclosure regulations).

Further updates regarding the EIOPA data reporting requirements will be provided  on this page or through news alerts posted on the Authority’s website.

Contact: pensionsdata@pensionsauthority.ie.