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DB to DC transitions could impact IORPs’ risk profiles and investment strategies – ESAs


By Jack Gray

Ongoing transitions from defined benefit (DB) to defined contribution (DC) schemes could impact IORPs’ risk profiles and investment strategies over time, despite strong financial positions, according to the European Supervisory Authorities (ESA).

The ESAs noted that IORPs’ indicators were affected by the Dutch DB to DC transition in the first quarter of 2026, alongside equity market developments


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