EU Pensions Law

Edited by Philip Bennett, Professor in Practice, Durham Law School, Durham University, UK and Hans van Meerten, Professor of European Pensions Law, Utrecht University, the Netherlands

‘EU Pensions Law is an important and comprehensive resource. Every practitioner and policymaker whose work touches on EU pensions should have a copy of this volume. Bennett and van Meerten provide guidance and insights that will be valuable to both pension novices and pension experts.’

• ContentsPART I INTRODUCTION1 Structure and context of EU Pensions Law 2Philip Bennett2 The sources of EU pensions law 10Philip Bennett3 The interaction of EU pensions law with national Member State law and, for the UK, retained EU lawpost-Brexit 39Philip BennettPART II THE IORP DIRECTIVEIIA BACKGROUND TO THE IORP II DIRECTIVE4 Origins of the IORP II Directive 84Philip Bennett with contributor: Velina PekovaIIB COMMENTARY ON THE ARTICLES OF THE IORP II DIRECTIVE5 Title I – General provisions, Part 1 (Articles 1–5) 94Hans van Meerten6 Title 1 – General provisions, Part 2 (Articles 6–10) 116Hans van Meerten7 Title 1 – General provisions, Part 3 (Articles 11–12) 142Hans van Meerten8 Title 2 – Quantitative requirements: Technical provisions, their funding and regulatory own funds (Articles13–14) 164Hans van Meerten9 Title 2 – Quantitative requirements: regulatory own funds and solvency margins (Articles 15–18) 178Philip Bennett10 Title 2 – Qualitative requirements: Investment rules (Article 19) 218Philip Bennett11 Title 3 – Part I – System of governance: Section 1 – General provisions: Articles 20–23 284Philip Bennett12 Title 3 – Part I – System of governance: Section 2 – Key functions (Articles 24–27) 308Philip Bennett13 Title 3 – Part I: System of governance: Section 3 – Documents concerning governance (Articles 28–30) 320Philip Bennett14 Title 3 – Part II: Outsourcing and investment management (Articles 31–32) 339Hans van Meerten15 Title 3 – Part III – Depositary (Articles 33–35) 352Philip Bennett16 Title 4 – Information to be given to prospective members, members and beneficiaries: Part I – Generalprovisions (Articles 36–37) 367Hans van Meerten17 Title 4 – Information to be given to prospective members, members and beneficiaries: Part II – Pensionbenefit statement and supplementary information (Articles 38–40) 380Hans van Meerten18 Title 4 – Information to be given to prospective members, members and beneficiaries: Part III – Otherinformation and documents to be provided (Articles 41–44) 396Hans van Meerten19 Title 5 – Prudential supervision: Part I – General rules on prudential supervision (Articles 45–51) 412Philip Bennett20 Title 5 – Prudential supervision: Part II – Professional secrecy and exchange of information (Articles 52–59)436Philip Bennett21 Title 6 – Final provisions (Articles 60–67) 458Hans van Meerten22 Comparison of Recitals of the IORP I and IORP II Directives 479Philip BennettIIC ADDITIONAL IORP II INSIGHTS23 Annexes to the IORP II Directive and general comments on its transposition 497Philip Bennett24 Role and powers of EIOPA 505Hans van Meerten25 Concluding remarks on the IORP II Directive 510Philip BennettPART III SOME EU PENSION LAW THEMES26 Solvency II and insurance company provided pensions 518Arthur van den Hurk27 Prudent person approaches and ESG 539Arthur van den Hurk28 Mobility of workers in the EU and pension rights: Light and shadows under Pillar I 570Maria Cristina Degoli29 The mobility of workers in the EU with regard to the acquisition and safeguarding of their pension rightsunder Pillar 2 and Pillar 3 592Francesco Briganti30 EU State aid law and pensions 617Steven Verschuur and Cecilia Sbrolli31 Protection of Pillar 2 employee pension rights on employer insolvency in the EU 637Philip Bennett and Hans van MeertenBibliography 647Index 662