The EU pension fund regulator has proposed collecting look-through data on IORPs’ investments in UCITs and derivative information as part of a move to strengthen its capacity to analyse emerging risks in the occupational pensions sector.

In a consultation document, EIOPA said this capacity was “currently limited as it lacks crucial data in a number of areas”.

Important data gaps had been identified, it added, namely in the area of derivatives and look-through information.

The regulator is also proposing to amend current reporting requests to include cashflow information to calculate comparable and market-consistent values of IORPs’ defined benefit liabilities (or more information on discount rates); cross-border data by host country ”to get an accurate picture of the cross-border relationships”; and four-digit reporting of NACE codes to allow for better assessment of environmental, social and governance (ESG) risks.

NACE refers to the EU’s economic activity-based classification system (NACE) for complex projects – NACE codes are used by the EU sustainability taxonomy.

EIOPA’s consultation, which runs until 18 July, concerns a ‘Decision’ adopted by EIOPA’s board of supervisors in 2018 about regular requests for occupational pension information from national supervisors.

‘Proportionate revision’

In the consultation document, EIOPA said its proposals would lead to crucial improvements by addressing data gaps, correcting certain flaws, and aligning taxonomies between reporting frameworks.

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