Communication: IORP II requirements
IORP II specifies minimum requirements for communications by retirement plans to:
- prospective members (including those to be auto-enrolled)
- current members
- members in a pay-out phase
| |
Prospective members |
Current members |
In pay-out phase |
| Features of the plan including benefits, options, costs, etc |
When apply/enrolled |
When join |
Ahead of pay-out commencing |
| Changes to plan rules |
N/A |
When change |
When change |
| Investment considerations & performance including ESG* |
If bear risk |
Annual statement |
Regularly |
| Accrued and projected benefits, costs, funding levels, etc |
N/A |
Annual statement |
N/A |
| Impact of changes in technical provisions |
N/A |
When significant |
When significant |
| Accounts, investment principles, projection assumptions, etc |
N/A |
On request |
On request |
| Information about benefits due & pay-out options |
N/A |
Pre-retirement |
Periodically |
* ESG = Environmental, social and governance
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Read more on the IORP requirements around risk management and governance.