A quick Google search for “EIOPA reporting for Pensions Schemes” brings up the Data Point Model and XBRL page on the EIOPA website. This page contains an enormous amount of information and can extremely useful for those of us who need to produce and validate the XBRL reports required by EIOPA and the ECB.
But there is a problem… Of the hundred or so links on this page (of which many lead to multiple folders and files), which is the one you need to answer the question you have on reporting?
Many National Competent Authorities (NCAs) and central banks have run workshops covering the requirements. Examples include those by the Central Bank of Ireland and the Financial Supervisory Authority of Norway. The aim of these have been to prepare for the new regime. These workshops have however been quite technical and detailed (the last one I viewed included a powerpoint presentation which ran to 91 slides and numerous links to other documents).
For those who have not already attended workshops and spent considerable time understanding the details of the reporting requirements, the first step is to get an overview. An example of how this can be divided up is outlined below.
1) Understand which reports your scheme needs to submit
Only the largest schemes will need to submit all of the reports each quarter. Other schemes can be exempt from some or all of the reports. These exemptions vary by member state but all schemes should now have been informed about any exemptions which may apply.
Get an overview of what exemptions apply to your scheme. If the scheme is exempt from some of the reports, focus on those that need to be reported and don’t waste time understanding the full reporting requirements.
2) Understand any transition measures which apply for 2019 Q3, Q4 and annual reporting
Exemptions can be given for the asset list and the fund look through until Q1 2020. Check if this applies in your market
3) Get an overview of the content of the reports
At this stage it is useful to take a look at the templates provided by EIOPA. This contains a useful “Entry points” table with links to all the reports. Take some time to understand which reports are relevant and then use this useful navigation tool. Note that not all of the reports will be relevant, even for the largest Schemes:
To help you get an understanding of the requirements we have produced a simple overview: