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16 April 2019

Investment & Pensions Europe: Commission launches infringement action against 17 states over IORP II


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The European Commission has opened infringement cases against 17 EU countries in relation to the transposition of IORP II, the new EU pension fund directive.


The infringement proceedings relate to “non-communication cases”, meaning a member state has failed to communicate measures that fully incorporate into national law the provisions of an EU directive by the transposition deadline.

IPE understands that it is fairly routine for the Commission to initiate such proceedings.

According to its website, so far this year the Commission has made decisions relating to 217 active infringement cases for “non-communication” of transposition measures across all policy areas.

A policy official at one national pension fund association told IPE she was more surprised by the speed at which the Commission had acted in the case of the IORP II directive.

In January the Commission had said it would “carefully examine” how each member state had implemented the directive. The deadline for incorporating IORP II into national law was 13 January.

The infringement proceedings were launched in late March, with the dispatch of a “letter of formal notice” requesting further information. The countries are supposed to send a detailed reply within a specified period, usually two months.

According to the European Commission, as at the beginning of this month, 11 member states had achieved “full transposition status”.

Of the 17 against which infringement procedures have been launched, five had communicated “partial” transposition measures: Bulgaria, Czech Republic, Germany, Latvia and the Netherlands.

A further 12 had not communicated any transposition measures: Cyprus, France, Greece, Ireland, Luxembourg, Malta, Poland, Portugal, Romania, Spain, and Sweden.

Full article



© IPE International Publishers Ltd.


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