Institutions for Occupational Retirement Provision (IORP I & II): The EU and Cyprus Directives

The European Pension Systems landscape is constantly changing, a process that is resulting from pension-related EU Country Specific Recommendations (CSR). This seminar provides an overview of the European and Cyprus Pension systems. Firstly, it provides an overview of the Cyprus Pension System and how that was developed after the accession of Cyprus into the European Union. Then, the Cypriot Law 208(I)/2012 is analyzed in detail and its main provisions explained.

Finally, the seminar goes one step further by explaining the provisions of the European Commission’s proposed a revision (‘IORP II’) of the existing IORP Directive of 2003, which covers certain occupational pension savings. The proposed revision aims to improve the governance, risk management, transparency and information provision of IORPs and help increase cross-border IORP activity, strengthening the single market.

Seminar Content

• Overview of Cypriot Pension System
• Institutions for Occupational Retirement Provision Directive 2003
• The Establishment, Activities, and Supervision of Funds for Occupational Retirement Benefits Law – Cyprus (L. 208(I)/2012)
• IORP II Directive

Who should attend

• Members of the Administrative / Management Committees or Trustees of Cypriot Occupational Pension and Provident Funds.
• Administration staff of Occupational Pension and Provident Funds (General Managers, CFOs, Financial Controllers, Accountants, Administration staff)
• Consultants, Actuaries, Assets – Fund Managers of Pension and Provident Funds.
• Commercial Banks providing account and custodian services to Pension and Provident Funds.
• Lawyers, Auditors, Accountants
• Company General Managers and CFOs, HR Managers responsible for employee pension schemes.