Directive on the activities of Institutions for Occupational Retirement Provision (IORP Directive )
Description
The IORP Directive will create a framework for the prudential regulation of occupational pension schemes that operate on a funded basis and are outside the scope of social security schemes. It puts in place minimum standards to facilitate cross-border operation by pension schemes.
The UK Government supports the directive as a first step towards a single market for occupational retirement provision that will contribute to the delivery of Europe's economic reform goals.