Divided into three key parts, this judicious Commentary first identifies the sources of EU pensions law and how EU law directly and indirectly affects pension rights, before considering the legislative background and articles of the IORP II Directive. Finally, it investigates important EU pension law issues, such as the mobility of EU workers and the protection of Pillar 2 employee pension rights.
Key Features:
- Examines the impact of EU state aid law on pensions
- Discusses the meaning of the prudent person rule in Article 19 of the IORP II Directive
- Provides a detailed article-by-article analysis of the IORP II Directive, in comparison to the relevant articles of the IORP I Directive
- Considers how EU pensions law has been retained in the UK post-Brexit and the effect of the UK Retained EU Law (Revocation and Reform) Act 2023
This Commentary is an essential resource to help practising pension lawyers in the EU and the UK avoid the pitfalls of EU pension laws interaction with national pension policies and legislation. It is also beneficial for lawyers and policymakers in the EU Commission, EU Member State and UK governments, EIOPA and national competent authorities such as the UK Pensions Regulator and the Dutch Central Bank.
Recenzijos
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. -- Dana Muir, University of Michigan, US For those who would like to know more about the IORP II Directive and its operation, this is an interesting book. Certainly the relationship with UK law is plainly fascinating and this even after Brexit. Moreover, the authors make a very interesting and readable comparison between the first IORP Directive and the second IORP Directive. The reader gets an historical legal insight into the evolution between the two Directives. -- Yves Stevens, University of Leuven, Belgium
Contents
PART I INTRODUCTION
1 Structure and context of EU Pensions Law 2
Philip Bennett
2 The sources of EU pensions law 10
Philip Bennett
3 The interaction of EU pensions law with national Member State law and, for
the UK, retained EU law
post-Brexit 39
Philip Bennett
PART II THE IORP DIRECTIVE
IIA BACKGROUND TO THE IORP II DIRECTIVE
4 Origins of the IORP II Directive 84
Philip Bennett with contributor: Velina Pekova
IIB COMMENTARY ON THE ARTICLES OF THE IORP II DIRECTIVE
5 Title I General provisions, Part 1 (Articles 15) 94
Hans van Meerten
6 Title 1 General provisions, Part 2 (Articles 610) 116
Hans van Meerten
7 Title 1 General provisions, Part 3 (Articles 1112) 142
Hans van Meerten
8 Title 2 Quantitative requirements: Technical provisions, their funding
and regulatory own funds (Articles
1314) 164
Hans van Meerten
9 Title 2 Quantitative requirements: regulatory own funds and solvency
margins (Articles 1518) 178
Philip Bennett
10 Title 2 Qualitative requirements: Investment rules (Article 19) 218
Philip Bennett
11 Title 3 Part I System of governance: Section 1 General provisions:
Articles 2023 284
Philip Bennett
12 Title 3 Part I System of governance: Section 2 Key functions
(Articles 2427) 308
Philip Bennett
13 Title 3 Part I: System of governance: Section 3 Documents concerning
governance (Articles 2830) 320
Philip Bennett
14 Title 3 Part II: Outsourcing and investment management (Articles 3132)
339
Hans van Meerten
15 Title 3 Part III Depositary (Articles 3335) 352
Philip Bennett
16 Title 4 Information to be given to prospective members, members and
beneficiaries: Part I General
provisions (Articles 3637) 367
Hans van Meerten
17 Title 4 Information to be given to prospective members, members and
beneficiaries: Part II Pension
benefit statement and supplementary information (Articles 3840) 380
Hans van Meerten
18 Title 4 Information to be given to prospective members, members and
beneficiaries: Part III Other
information and documents to be provided (Articles 4144) 396
Hans van Meerten
19 Title 5 Prudential supervision: Part I General rules on prudential
supervision (Articles 4551) 412
Philip Bennett
20 Title 5 Prudential supervision: Part II Professional secrecy and
exchange of information (Articles 5259)
436
Philip Bennett
21 Title 6 Final provisions (Articles 6067) 458
Hans van Meerten
22 Comparison of Recitals of the IORP I and IORP II Directives 479
Philip Bennett
IIC ADDITIONAL IORP II INSIGHTS
23 Annexes to the IORP II Directive and general comments on its transposition
497
Philip Bennett
24 Role and powers of EIOPA 505
Hans van Meerten
25 Concluding remarks on the IORP II Directive 510
Philip Bennett
PART III SOME EU PENSION LAW THEMES
26 Solvency II and insurance company provided pensions 518
Arthur van den Hurk
27 Prudent person approaches and ESG 539
Arthur van den Hurk
28 Mobility of workers in the EU and pension rights: Light and shadows under
Pillar I 570
Maria Cristina Degoli
29 The mobility of workers in the EU with regard to the acquisition and
safeguarding of their pension rights
under Pillar 2 and Pillar 3 592
Francesco Briganti
30 EU State aid law and pensions 617
Steven Verschuur and Cecilia Sbrolli
31 Protection of Pillar 2 employee pension rights on employer insolvency in
the EU 637
Philip Bennett and Hans van Meerten
Bibliography 647
Index 662
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
