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By Dr. Francesco BRIGANTI(1) Dr. Sebastiaan Niels HOOGHIEMSTRA(2)
The revision of the pension fund directive, known as IORP II, does not seem to have achieved the desired result of facilitating cross-border activities. Instead, Member States have "gold-plated" the Directive further frustrating cross-border activities. Recently, the Cross Border Benefits Alliance-Europe ("CBBA-Europe") came with a proposal to introduce a new pan-European DC Occupational Pension vehicle called the "PEOP".
Already since 2003, current European legislation allows pension funds ("IORPs") to set up cross-border activities. Indeed, according to the EU Directive “IORP I” that was replaced by “IORP II” in 2016, an IORP based in a given EU Member...
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