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Directive 2016/2341/EU - IORP II DirectiveRecitalsTitle I General Provisions (arts. 1-draft art. 12a)Article 1 Subject matterArticle 2 ScopeArticle 3 Application to IORPs operating social security schemesArticle 4 Optional application to institutions covered by Directive 2009/138/ECArticle 5 Small IORPs and statutory schemesArticle 6 DefinitionsArticle 7 Activities of an IORPArticle 8 Legal separation between sponsoring undertakings and IORPsDraft Article 8a Right of establishment and freedom to provide servicesArticle 9 Registration or authorisationDraft Article 9a Multi-sponsor IORPsArticle 10 Operating requirements Article 11 Cross-border activities and proceduresDraft Article 11a Changes in the information notifiedArticle 12 Cross-border transfersDraft Article 12a Domestic transfersTitle II Quantitative Requirements (arts. 13-19)Article 13 Technical provisionsArticle 14 Funding of technical provisionsArticle 15 Regulatory own fundsArticle 16 Available solvency marginArticle 17 Required solvency marginArticle 18 Required solvency margin for the purpose of Article 17(3)Draft Article 18a Internal stress testingArticle 19 Investment rulesTitle III Conditions governing activities (arts. 20-35)Chapter 1 System of governance (arts. 20-30)Section 1 General provisions (arts. 20-23)Article 20 Responsibility of the management or supervisory bodyArticle 21 General governance requirementsArticle 22 Requirements for fit and proper managementArticle 23 Remuneration policySection 2 Key functions (arts. 24-27)Article 24 General provisionsArticle 25 Risk-managementArticle 26 Internal audit functionArticle 27 Actuarial functionSection 3 Documents concerning governance (arts. 28-30) Article 28 Own-risk assessmentArticle 29 Annual accounts and annual reportsArticle 30 Statement of investment policy principlesChapter 2 Outsourcing and investment management (arts. 31-32) Article 31 OutsourcingArticle 32 Investment managementChapter 3 Depositary (arts. 33-35) Article 33 Appointment of a depositaryArticle 34 Safekeeping of assets and depositary liabilityArticle 35 Oversight dutiesTitle IV Information to be given to prospective members, members and beneficiaries (arts. 36-draft art. 44d) Chapter 1 General provisions (arts. 36-draft art. 37a) Article 36 PrinciplesArticle 37 General information on the pension schemeDraft Article 37a Pension tracking systemsChapter 2 Pension Benefit Statement and supplementary information  (arts. 38-40)Article 38 General provisionsArticle 39 Pension Benefit StatementArticle 40 Supplementary informationChapter 3 Other information and documents to be provided (arts. 41-44) Article 41 Information to be given to prospective membersDraft Article 41a Information to be given to members and beneficiaries in the case of underperformanceArticle 42 Information to be given to members during the pre-retirement phaseArticle 43 Information to be given to beneficiaries during the pay-out phaseArticle 44 Additional information to be given on request to members and beneficiariesDraft Chapter 4 Business conduct rules (draft arts. 44a-44d) Draft Article 44a Duty of careDraft Article 44b Appropriate structure and implementation of the pension schemesDraft Article 44c ComplaintsDraft Article 44d Out-of-court redressTitle V Prudential supervision (arts. 45-59)Chapter 1 General rules on prudential supervision (arts. 45-51)Article 45 Main objective of prudential supervisionDraft Article 45a Competent authoritiesArticle 46 Scope of prudential supervisionArticle 47 General principles of prudential supervisionArticle 48 Powers of intervention and duties of the competent authoritiesArticle 49 Supervisory review processDraft Article 49a Regular supervisory dialogueDraft Article 49b Withdrawal of authorisationArticle 50 Information to be provided to the competent authoritiesDraft Article 50a Supervision of outsourced functions and activitiesArticle 51 Transparency and accountabilityChapter 2 Professional secrecy and exchange of information (arts. 52-59)Article 52 Professional secrecyArticle 53 Use of confidential informationArticle 54 European Parliament right of inquiryArticle 55 Exchange of information between authoritiesDraft Article 55a Collaboration platformsArticle 56 Transmission of information to central banks, monetary authorities, European Supervisory Authorities and the European Systemic Risk BoardArticle 57 Disclosure of information to government administrations responsible for financial legislationArticle 58 Conditions for the exchange of informationArticle 59 National provisions of a prudential natureTitle VI Final provisions (arts. 60-67)Article 60 Cooperation between Member States, the Commission and EIOPAArticle 61 Processing of personal dataArticle 62 Evaluation and reviewArticle 63 Amendment of Directive 2009/138/ECArticle 63a Accessibility of information on the European single access pointArticle 64 TranspositionDraft Article 64a Exercise of delegationArticle 65 RepealArticle 66 Entry into forceArticle 67 AddresseesAnnex IPart A Repealed Directive with list of its successive amendmentsPart B List of time-limits for transposition into national law and applicationAnnex II Correlation TableDone at
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AI Summary of Article 46 Scope of prudential supervision

Member States are required to ensure that Institutions for Occupational Retirement Provision (IORPs) are under comprehensive prudential supervision. This oversight encompasses several critical areas including the operational conditions, technical provisions, and the adequacy of funding for these technical provisions.

Additionally, the supervision extends to the assessment of regulatory own funds, solvency margins—both available and required—as well as adherence to investment rules and management practices. Furthermore, a robust governance system must be maintained, alongside clear and transparent obligations to provide information to members and beneficiaries.

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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 12 January 2017 - onwards
Version 2 of 2

Article 46 Scope of prudential supervision

DRAFT Amended Article 1 Amendments to Directive (EU) 2016/2341 of the Proposal for a Directive of the European Parliament and of the Council amending Directives (EU) 2016/2341 and 2016/97 as regards the strengthening of the framework for occupational retirement provision (Text with EEA relevance) (COM(2025) 842 final / 2025/0362 (COD))
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Member States shall ensure that IORPs are subject to prudential supervision including the supervision of the following where applicable:

(a) conditions of operation;

(b) technical provisions;

(c) funding of technical provisions;

(d) regulatory own funds;

(e) available solvency margin;

(f) required solvency margin;

(g) investment rules;

(h) investment management;

(i) system of governance; and

(j) information to be provided to members and beneficiaries.

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