News

The Pensions Authority has issued a consultation document which sets out a package of proposals to reform and simplify supplementary private pension provision in Ireland.

‘The Future of the State Pension’ was the theme of a major conference hosted today by the Society of Actuaries in Ireland. The conference follows the publication last year of a research report by Milliman on the financial sustainability of the state pension in Ireland. The Society of Actuaries in Ireland and PublicPolicy.ie commissioned this research with a view to stimulating constructive debate on this subject.

Today the European Insurance and Occupational Pensions Authority (EIOPA) published its Opinion on a Common Framework for Risk Assessment and Transparency for Institutions for Occupational Retirement Provision (IORPs).

The Opinion concludes a cycle of almost three years of EIOPA's own-initiative work and is addressed to the EU co-legislators (European Parliament and Council) and the European Commission.

The European Insurance and Occupational Pensions Authority (EIOPA) has published Preparatory Guidelines on Product Oversight and Governance (POG) arrangements to be followed by insurers (manufacturers of insurance products) and distributors.

These Guidelines provide early guidance and support national authorities and market participants with the implementation of POG requirements in preparation for formal requirements provided for in the Insurance Distribution Directive (IDD).

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) has finalised its proposal for regulatory technical standards (RTS) on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs). 

The European Insurance and Occupational Pensions Authority (EIOPA) published today a potential macroprudential approach to the low interest rate environment in the Solvency II context.
The aim of this publication is to contribute to the discussion on the possible need to develop a macroprudential framework in the insurance sector to promote financial stability in a Solvency II environment.
 
The following three objectives to be targeted by supervisory authorities in the current low interest rate environment are addressed:

The final version of the “Domestic Actuarial Regime and Related Governance Requirements under Solvency II” is now available on the website of the Central Bank of Ireland (link).

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA), following an open selection process, appointed new members of the Insurance & Reinsurance (IRSG) and Occupational Pensions (OPSG) Stakeholder Groups.  Tony O’Riordan, a Fellow of the Society, was one of the appointed candidates.

The International Actuarial Association (IAA) has announced the publication of a paper on Actuarial Aspects of ERM for Insurance Companies by the Enterprise and Financial Risk Committee (EFRC).