The European Directive on the Activities and Supervision of Institutions for Occupational Retirement Provision EbAV II (or IORP II — Institutions for Occupational Retirement Provision) defines standards with regards to governance, cross-border activities and information duties towards beneficiaries.
In this context, EIOPA and the European Central Bank (ECB) have introduced reporting obligations and created corresponding reporting forms. Companies affected by these obligations must submit their data to BaFin, which in turn sends them to the ECB via the national central banks.
In comparison to the reporting obligations applicable until 2019, the EbAVII reports are considerably more extensive. The impacts of this affect both data management and IT processes within the scope of regulatory reporting.
In order to minimise your company’s own additional expenses, synergies with existing systems must be used efficiently.