One of the objectives of the IORP II Directive is to urge institutions for occupational retirement provision (IORPs) to conduct active risk management. This means IORPs must carry out their own risk assessment (ORA) at least every three years. The ORA is intended to provide an overall assessment of all risks to which the IORP is or may be exposed, and of their risk management.
The IORPs have now submitted their first complete ORA report to the FSMA. The FSMA has analyzed the quality of the ORA reports via a representative sample. The FSMA set out the main findings of its analysis and its expectations as regards future ORA reports in a webinar on 13 November 2023. The IORPs have now submitted their first complete ORA report to the FSMA. The FSMA has analyzed the quality of the ORA reports via a representative sample. The FSMA set out the main findings of its analysis and its expectations as regards future ORA reports in a webinar on 13 November 2023.