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The report presents the results received from five countries (Belgium, Italy, Norway, the UK and Spain) as well as some remarks from Finland, Sweden and Austria. PensionsEurope’s German and Dutch members also provided input that can be found separated from this document. Each part of the report is presenting the response received from one of those countries in the format of the questionnaire and questions received from the European Commission. It also includes remarks about difficulties or shortcomings faced in the process.
PensionsEurope received very few responses from IORPs as many issues appeared during the process. This process was costly for IORPs and the uncertainties contained in the questionnaires combined with difficulties for each jurisdiction to interpret EIOPA’s Advice requirements render the process very difficult. However, as requested by the European Commission, the following data show some trends on the potential impacts.
The content of this paper cannot be extrapolated at country level. Indeed, the very low number of respondents and the difference between the respondents make it impossible to extrapolate. Furthermore, only relatively big IORPs were able to provide responses within the time frame provided by the European Commission. As a result, the outcomes exposed in this paper are not representative of the IORP sector at all.