1. Transferability of acquired pension rights - update on EIOPA‘s work -
Alexandra de Jong
OPSG
15 October 2014
Frankfurt

2. Outline Background On-going work by EIOPA Issues identified so far
Discussion

3. I. Background EIOPA own initiative (WP 2014)
COM Call for Advice (June 2014)

4. I. COM Call for Advice - contents
EIOPA asked to provide the COM with:
overview of the existing arrangements for transfers of acquired supplementary pension rights (domestic and cross-border)
“good” practices related to transfers
obstacles/difficulties affecting (or preventing) transfers
quantitative data on transfers of pension assets

5. II. On-going work by EIOPA - content
EIOPA plans to
Provide assessment of factual information
Report on “Good Practices” facilitating transfers
EIOPA has no ambition to:
Judge/comment on whether transferability of pension rights is desirable
Aim for harmonisation of national Social and Labour Law

6. II. On-going work by EIOPA - timeline
Work initiated in early 2014
Draft Report will be subject to public consultation (anticipated in Q1 2015)
Respond to COM by end July 2015

7. III. Issues identified so far
Potential obstacles to transferability:
Requirements for receiving/ceding schemes
Advice and information
Costs and charges
Process
Taxation

8. IV. Discussion
In your view, are there any other obstacles to transferability?

9. Thank you for your attention! Questions?
Alexandra de Jong
Expert
Consumer Protection and Financial Innovation

10. References:
Call for Advice from COM to EIOPA (2 June 2014):