Strengthening of the framework for occupational retirement provision

This is a legislative procedure strengthening the framework for occupational retirement provision, revising rules on institutions for occupational retirement provision (IORPs). The amendments treat occupational schemes as complements to adequate first-pillar statutory pensions, apply the prudent person principle with attention to sustainability risks, and address the gender pension gap, diversity in governing bodies and a look-through approach to costs. They add EIOPA guidelines and supervisory powers protecting members.