Occupational Pensions Stress Test 2019

​​News

​​​​Publication Date​​Document
​2 April 2019Press release

2 April 2019

Stress test specifications

​​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 2019 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.

Timeline

​Date
​Activity
​2 April

​Launch of the occupational pensions stress test 2019

​16 April

​Launch event with participating IORPs and NCAs

17 April - 29 MayEIOPA ​Q&A procedure for participating IORPs
​19 June 
​Deadline for submission of data to NCAs
​20 June - 28 August​Validation of submission by NCAs and submission to EIOPA 
​End - August 
end - September
​Validation of  submissions by EIOPA
​October - November

Data analysis and drafting of the report

​December
​Publication of the stress test report

Stress test specifications​

​Publication dateDocument
2 April 2019

Stress test specifications              

2 April 2019

Annex to stress test specifications

Reporting templates​

​Publication dateDocument
​22 May 2019

​DC Reporting Template

Template transfer tool: For users who have already (partly) completed the earlier version

2 April 2019

DB/Hybrid Reporting Template

DC Reporting Template (Outdated! Please use the updated version)  

DC calculation tool

DC calculation tool - input template

Questions & Answers on the Stress Test 2019

Participating IORPs are welcome to use the centralised Q&A process, which is open for questions until 15 May 2019. This is to support participating IORPs 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 National Competent Authority (NCA). The email addresses of the NCAs can be viewed here.

​​Publication dateDocument
​22 May 2019Third set of questions & answers​
​​15 May 2019

​Second set of questions & answers​ (Outdated! Please use the updated version)

8 May 2019First set of questions & answers (Outdated! Please use the updated version)

Supporting spreadsheets​

​Publication dateDocument
2 April 2019 Inputs helper tool (corrected: 8 May 2019)
2 April 2019Sponsor support helper tool

Background documents​

​Publication dateDocument

2 April 2019

ESRB adverse market scenario

​Working process​

 

 

The exercise is carried out in close cooperation with the NCAs, which are the direct contact points for the participants in the stress test.

Between 31 January and 21 February 2019, 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.