27/07/2011
By Ilonka Oudenampsen
Eleven new cross-border IORPs have been reported during the 12 month period from June 2010 to June 2011, an increase of 14% compared to the previous year, according to a report by EIOPA.
However, five IORPs have been closed this year, which means the total change is from 78 to 84 cases, an increase of 8%. Last year the increase was only 3%, compared to 9% in 2009.
Nine home states were reported – Austria, Belgium, Cyprus, Germany, Ireland, Liechtenstein, Luxembourg, Norway, Portugal and the United Kingdom – with only Norway and Cyprus offering IORPs for the first time.
Most EEA states host one or more cross-border IORPs, which has increased from 22 to 23 states, with only seven not hosting any cross-border IORPs at all. Of the 11 newly engaging IORPs, five are providing DC type benefits in the host state and six offered DB benefits in the host state.
For some of the new IORPs the actual number of members and beneficiaries was unclear, due to them having projected members in mind but few or no actual members. For those that responded, numbers ranged from 10 to 75.
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