The European Commission’s Directorate-General for Financial Stability and Capital Markets (DG FISMA) has launched an infringement procedure against 17 EU member states for incorrect implementation of the IORP II Directive.

The commission said the infringement procedures have been launched due to the lack or delay of the notification, or non-communication of national transposition measures or their incompleteness.

The states are Bulgaria, Cyprus Czech Republic, France, Germany, Greece, Ireland, Latvia, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovenia, Spain and Sweden.

According to the German association for supplementary pensions, ABA, DG FISMA can act against EU countries that do not correctly implement European law, by deficiencies in transposition laws or missed implementation deadlines. In certain cases, the Court of Justice can impose financial penalties.

Germany belongs to the group of countries which has only communicated partial transposition measures, together with Bulgaria, Czech Republic, Latvia and the Netherlands, however, the remaining 12 have not communicated any measures at all.

Full transposition measures have been communicated by Austria, Belgium, Croatia, Denmark, Estonia, Finland, Hungary, Italy, Lithuania, Slovakia and the United Kingdom.

The IORP II Directive for occupational retirement provisions had its transposition deadline on 13 January 2019.

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