According to sources in Brussels familiar with the matter, the European Commission decided over the summer to cancel the two impact studies after Michel Barnier, the commissioner for the internal market and services, announced in May that the introduction of pillar one of the IORP II Directive would be postponed.
Speaking with IPE, the source said ECB staff had already started on the study and were "disappointed" to see their work suddenly cease.
The EC originally commissioned two separate studies on pillar one of the revised IORP Directive shortly after it received the technical specifications on the launch of the quantitative impact study (QIS) for the revised IORP Directive from the European Insurance and Occupational Pensions Authority (EIOPA).
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See also IORP: what to expect this autumn
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