The existing IORP Directive makes no reference to principles for supervising IORPs, nor does it specify any requirements in relation to the transparency or accountability of supervision. By contrast, articles 29 and 31 of the Solvency II Directive cover both of these areas, as outlined in the box below.
The Commission did not ask EIOPA to consider whether article 30 of the Solvency II Directive, which address the scope of supervision, should be adapted for application to IORPs. (The scope of the IORP Directive as a whole is the subject of a separate call for advice and is covered in a separate factsheet.)
EIOPA’s advice on the scope of supervision is confined to a statement that article 5 of the existing IORP Directive allows Member States to exempt schemes with fewer than 100 members from some of the Directive’s requirements unless that ‘small’ IORP is being used for cross-border activity.