Occupational Pensions Stress Test 2017

​​News

​​​​Publication Date​​Document
18 May 2017

Frequently Asked Questions​​​​​

​​Objective​​

Stress tests are an important supervisory tool to provide insight into the risks and vulnerabilities of the European occupational pensions sector. They contribute to the stability of the financial system and the European economy and enhance the protection of pension scheme members and beneficiaries.

The 2017 exercise is designed to assess the resilience of the European occupational pensions sector to an adverse market scenario using common methodologies. It will also analyse how IORPs transfer shocks, resulting from the impact of the adverse market scenario, to the real economy and financial markets.

Scope

The stress test is a European-wide exercise, covering both defined benefit (DB) schemes and defined contribution (DC) plans. The exercise includes all countries with material IORP sectors, exceeding EUR 500 million in assets. The relevant national supervisory authorities (NSAs) will identify and contact the respective participants.

Timeline

​Date
​Activity
​30 March - 13 April
​Collecting input from EU pensions stakeholders including EIOPA’s Occupational Pensions Stakeholder Group
​18 May
​Launch of the occupational pensions stress test 2017
​18 May 
​Workshop with participating IORPs and NSAs
​May – July 
​Q&A procedure for participating IORPs
​13 July 
​Deadline for submission of data to NSAs
​22 August
​Validation of submission by NSAs and submission to EIOPA 
​End-August 
end-September
​Validation of  submissions by EIOPA
​October-November
​Analysis of submissions and preparation of report by EIOPA jointly with NSAs
​December
​Publication of the stress test report

Stress test specifications​

​Publication dateDocument
18 May 2017
18 May 2017
18 May 2017
18 May 2017

Reporting templates​

​Publication dateDocument
18 May 2017
DB/Hybrid Reporting Template Index
18 May 2017
DC Reporting Template Index
18 May 2017
Word Response Template – Qualitative/Quantitative Questionnaire for DB/hybrid IORPs
18 May 2017
Word Response Template – Qualitative/Quantitative Questionnaire for DC IORPs

Questions & Answers on the Stress Test 2017

A centralised Q&A process is available until the 5 of July to support only participating IORPs in the stress test to interpret correctly the specifications and the reporting templates. For any queries related to this exercise, please fill in this template and send it to your NSA. The email addresses of the NSAs can be viewed here.

​​Publication dateDocument
5 July 2017
Fifth set of questions and answers
28 June 2017
​​Fourth set of questions and answers (Outdated! Please use the updated version)​  
​​21 June 2017
​Third set of questions and answers (Outdated! Please use the updated version)​  
​14 June 2017
​​​Second set of questions and answers​​​​​ (Outdated! Please use the updated version)​  
​​7 June 2017
First set of questions and answers​​​​​ (Outdated! Please use the updated version)​  

Supporting spreadsheets​

​Publication dateDocument

​21 June 2017

​DC Calculation tool
21 June 2017

​​DC module - Report Template and Questionnaire

14 June 2017
DC Calculation tool (Outdated! Please use the updated version)
​14 June 2017
​DC module - Report Template and Questionnaire (Outdated! Please use the updated version)
18 May 2017
EIOPA Yield Curves
18 May 2017
EIOPA helper tab - sponsor support
18 May 2017
​DC Calculation tool ​(Outdated! Please use the updated version)
18 May 2017
​DC module- Report Template and Questionnaire (Outdated! Please use the updated version)

Background documents​

​Publication dateDocument
18 May 2017
Adverse scenario for EU-wide pension fund stress test in 2017
​19 May 2017
​Bird‘s eye view of the EIOPA 2017 IORPs stress test Launch Event
​19 May 2017
​Adverse Market Scenario for the EIOPA 2017 IORP stress test Launch Event
​19 May 2017
Insight into the DB-part of the EIOPA 2017 IORP stress test Launch Event
​19 May 2017
Insight into the DC-part of the EIOPA 2017 IORPs stress test Launch Event

​Working process​

 

 

The exercise is conducted in close cooperation with the NSAs which are the direct contact point for the participants in the stress test.

Between 30 March and 13 April EIOPA collected input from EU pensions stakeholders including EIOPA’s Occupational Pensions Stakeholder Group on the draft stress test package. Stakeholders were asked to provide technical feedback to enhance the clarity of the specifications, questionnaires and spreadsheets as well as to identify inconsistencies. EIOPA invited the EU pensions stakeholders to discuss their feedback during a meeting on 19 April 2017 held at EIOPA’s premises.