Abstract
The EU Directive on the activities and supervision of institutions for occupational retirement provision was originally envisaged as a mechanism to facilitate pension planning across the EU for pan-European employers. One of the main objectives of the Directive was to allow pension funds to benefit from the Internal Market principles of free movement of capital and free provision of services. As such, the Directive enables the management of occupational pension funds for companies established in one Member State to operate across the EU, allowing a pan-European company to have just one pension fund for all its subsidiaries all over Europe. It also put in place minimum prudential standards, which are designed to ensure that pension fund members and beneficiaries are properly protected. However, take-up of cross-border IORPs has fallen well below expectations. This article examines some of the different approaches adopted for identification and recognition of pan-European pension funds, and considers the impact of such approaches in encouraging (or otherwise) cross-border activity.
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