The FSMA has published an update to its handbook for IORPs on the implementation of the IORP II Directive and EIOPA’s opinions on governance and risk management. This new handbook (FSMA_2024_17) replaces Handbook FSMA_2022_01 of 14 December 2021.
The handbook as such was not substantially altered. In some places, a reference was introduced to the new annex on data management (see further). The opportunity was also taken to make some adjustments, among other things, to refer to DORA in the passage about the management of IT and cyber risks, and to adapt the passage about the internal whistleblowers’ procedure in order to take account of the law on the private sector.
A new annex (annex 7) on data management was added to the handbook. This annex mainly deals with some specific aspects on which the FSMA made findings during its inspection campaign into data management. It is indeed essential that identification, salary and career data are correct and complete. They form the basis for the calculation of the pension rights of the affiliates and beneficiaries. Securely managing these data is therefore crucial to guarantee an adequate management of the pension liabilities.
For the ease of the reader, the content modifications are indicated with a vertical line in the margin.