IORP II could trigger full funding requirement for all schemes with overseas pensioners
The industry has called for further clarity from the European Commission (EC) on the meaning of cross-border activity in the revised Institutions for Occupational Retirement Provision Directive (IORP II).
This comes amid concern that pensioners who retired abroad could trigger a scheme to become cross-border, and therefore required to be fully-funded, under proposals published last March to tighten up the...
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