Occupational pensions (IORP II) (Directive)

The new definition of cross-border business creates legal clarity. The ability to transfer pension schemes across borders increases efficiency. The fact that the home Member State's investment requirements and information obligations will apply, reduces administrative costs and increases efficiency. Whether these changes will actually promote cross-border IORPs business is doubtful because of the requirement for fully-funded provisions. In the case of cross-border business, the host Member State's funding requirements should therefore apply.