IORP II Transposition Timeline
Following on from our eUpdate yesterday (see below) the Pensions Authority has issued a timeline for providing further information and guidance over the coming weeks and months as follows:
- An overview of the key themes of transposition including how the Authority will oversee IORP II compliance and the effect of derogations and transitional periods. This will be published in the week commencing 10 May 2021.
- A draft code of practice which will set out what the Authority expects from regulated entities to meet their obligations under IORP II including specific information in relation to defined benefit schemes. This draft code will be open to public consultation for an eight-week period and will be published in the week commencing 19 July 2021.
- A final code of practice on what the Authority expects from regulated entities to meet their obligations under IORP II will be published in the week commencing 15 November 2021.
- Guidance for the public and employers about the minimum standards they should expect from master trust vehicles. This will be published in the week commencing 13 December 2021.
You can view the Authority's Press Release here. Here is a link to the Regulations.