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OPINION (COM(2025)0842 – C10-0306/2025 – 2025/0362(COD))

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

EMPL-AD-787878

Committee on Employment and Social Affairs · Rapporteur: Estelle Ceulemans

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The Committee on Employment and Social Affairs gives its opinion on the proposed directive amending Directives (EU) 2016/2341 and 2016/97 on occupational retirement provision. It recalls that strong public pension systems hold the primary responsibility for adequate retirement income, with occupational pensions only complementary. It finds that the IORP II framework improved governance, transparency and cross-border activity, but that fragmentation and uneven access persist. It asks for better risk management, supervisory convergence, protection of members and beneficiaries, and clear information to scheme members. It wants environmental, social and governance factors integrated into pension fund management, and cross-border activity that does not lower social standards.

Committee position. The committee's rapporteur proposes to build on the current framework while addressing its shortcomings from a social perspective, strengthening IORPs' effectiveness and resilience without letting them substitute strong public pension systems.

Key points

  1. The rapporteur states that primary responsibility for adequate and sustainable retirement income lies with strong public pension systems (Pillar 1).
  2. Occupational pensions may play a complementary role but must not replace or weaken public schemes.
  3. The existing framework, notably the IORP II Directive, has improved governance, transparency and cross-border activity.
  4. Differences in national pension systems, regulatory fragmentation and limited cross-border participation still hinder occupational schemes.
  5. Access to occupational schemes remains uneven, often excluding lower-income workers, those in precarious employment and many women.
  6. The report aims to strengthen the effectiveness and resilience of IORPs while keeping their development consistent with broader social objectives.
  7. Any further harmonisation must fully respect Member States' competences and diverse social models.
  8. The report gives particular attention to improving risk management, enhancing supervisory convergence and ensuring a high level of protection for members and beneficiaries, with emphasis on safeguarding workers' rights.
  9. Clear, accessible and comparable information to scheme members is essential for informed decisions, protection from undue financial risks and trust in pension systems.
  10. The integration of environmental, social and governance (ESG) factors should contribute to long-term stability and support the Union's social and environmental objectives, including a just transition.
  11. Facilitating cross-border activity for IORPs must not lead to regulatory competition or a lowering of social standards.
  12. Protection of beneficiaries, respect for collective bargaining and preservation of national social systems must remain paramount.

Who is affected

  • Institutions for Occupational Retirement Provision (IORPs) in the European Union, whose functioning and development the report addresses.
  • Scheme members and beneficiaries, for whom a high level of protection and clear information are sought.
  • Lower-income workers, those in precarious employment and many women, who are often excluded from occupational schemes.
  • Member States, whose competences and diverse social models must be fully respected in any further harmonisation.