The European Insurance and Occupational Pensions Authority has issued a Statement on principles to mitigate the impact of COVID-19 on the occupational pensions sector.
The statement recognises the stabilising role that institutions for occupational retirement provision (IORPs) can play as long-term investors in the current economic climate.
The statement, addressed to national competent authorities, outlines principles related to:
- Business continuity and operational risk
- Liquidity position
- Funding situation and pro-cyclicality
- Protection of members and beneficiaries; and
- Communication
EIOPA continues to work closely with national authorities to assess and mitigate the impact of the COVID-19 on the insurance and occupational pensions sector.
The Statement is available on the EIOPA’s website: https://www.eiopa.europa.eu/content/statement-principles-mitigate-impact-coronaviruscovid-19-occupational-pensions-sector_en
