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European Insurance and Occupational Pensions Authority
 

3547

Q&A

Question ID: 3547

Regulation Reference: (EU) 2016/2341 - IORP II Directive

Article: 13(4)(a)

Status: Question forwarded to the European Commission

Date of submission: 08 Apr 2026

Question

I have a question about article 13-4-a of IORP II. There is stated: a. the minimum amount of the technical provisions shall be calculated by a sufficiently prudent actuarial valuation, taking account of all commitments for benefits and for contributions in accordance with the pension arrangements of the IORP. It must be sufficient both for pensions and benefits already in payment to beneficiaries to continue to be paid, and to reflect the commitments which arise out of members' accrued pension rights. The question: are these two sentences one condition as stated in these two sentences or are these two sentences separate / independent that gives a choice to be used by the pension funds?

Background of the question

It is unclear if pension funds have a choice or not according to IORP II.