Today in Frankfurt the European Insurance and Occupational Pensions Authority (EIOPA) launched its 2017 stress tests for European occupational pension schemes – both defined benefit and defined contribution.
The tests are part of EIOPA’s regular cycle of assessing the resilience of occupational pension schemes under certain stressed scenarios and are typically carried out every two years. The 2017 tests are a simplified version of those carried out in 2015.
UK Pension Schemes constitute a significant proportion of the overall pension scheme liabilities in the European Union and EIOPA is keen for results from UK pension schemes to be included. The UK Pensions Regulator is therefore contacting all those schemes that participated in 2015 and hopes that they will take part this year – despite Brexit being likely to further dampen enthusiasm (participation in the exercise is voluntary).
To assist schemes further, the Pensions Regulator has drafted a template and pre-populated it with data from scheme returns. If any scheme that did not participate in 2015 wishes to consider doing so this year, please do not hesitate to contact us and we can put you in touch with the appropriate officials at the Regulator.
The deadline for responses is 13 July. EIOPA plans to publish the results in December 2017.