Pension Funds


The European Central Bank (ECB) has introduced a regulation (2018/231) on statistical reporting requirements for pension funds. The Statistics Division of the Central Bank of Ireland is responsible for the collection, compilation and transmission of this statistical data.

The new regulation aims to provide enhanced statistics that will better support the European System of Central Banks in its contribution to the stability of the financial system.

Read the ECB Regulation on Statistical Reporting Requirements for Pension Funds | PDF 677KB

For a broad overview of the regulation and how it is implemented in Ireland, please consult the workshop presentations at the bottom of this page.

Who is Subject to the Reporting Requirements

The requirements are mandatory for all pension funds resident in Ireland. In the Irish context, a pension fund is an autonomous occupational pension scheme established under trust. Trust RACs, individual occupational pension schemes and funded Section 52 schemes are captured under the definition of a pension fund. The regulation is binding on both pension funds and their trustees.

The Central Bank of Ireland must ensure that at least 75 per cent of total assets (rising to 80 per cent in 2022) in the sector are captured in detailed quarterly and annual reporting. A list of pension funds subject to detailed quarterly reporting requirements is available below.

Pension Funds Subject to Detailed Reporting Excel Version | xls 18 KB Pension Funds Subject to Detailed Reporting PDF Version | pdf 265 KB

The remainder of the pension fund population is subject to annual reporting of reduced data. A list of pension funds subject to reduced annual reporting requirements is available below.

Pension Funds Subject to Reduced Reporting Excel Version | xls 211 KB Pension Funds Subject to Reduced Reporting PDF Version | pdf 1010 KB

The regulation also sets out a requirement to maintain a list of pension funds for statistical purposes. As part of the data collection for pension funds, the Bank will also collect and transmit this information to the ECB. Additional information on this list is available below.

List of Pension Funds for Statistical Purposes | pdf 97 KB

What to Report

The regulation requires pension funds to report data on assets, liabilities and membership numbers. Detailed reporters report both annual and quarterly returns. Reduced reporters report on an annual only basis. An illustrative reporting template is available in the Additional Documents section below.

While detailed reporters must file returns using XBRL, reduced reporters must file a return using the Reduced Annual Return Template below.

Reduced Annual Return Template | xls 51 KB

When the Returns are Due

For detailed reporters, the deadline for the Q4 2020 return is 03 March 2021, while the Q1 2021 return is due by 25 May 2021. The 2020 detailed annual return is due by 07 May 2021.

For reduced reporters, reporting will be as per scheme year end. For the first reporting period a once off extension was granted and all schemes were to report by the deadline of 19 May 2020. The 2020 reduced annual return is due by the scheme year end +18 weeks.

Additional detail on the reporting schedule can be found in the Frequently Asked Questions document below.

How to Complete the Templates

Guidance on how to interpret and populate each section of the detailed and reduced templates is provided by the ECB and EIOPA.

Download Draft Guidance for the Completion of the Reporting Templates from EIOPA's website | PDF 1.1MB

The Central Bank of Ireland Pension Funds Team has produced Notes on Compilation to provide further assistance in completing the returns.

Pension Fund Notes on Compilation | pdf 618 KB

How to Submit the Templates

Detailed reporters are required to submit their returns in XBRL. Technical guidance on the XBRL taxonomy is available on EIOPA’s website. The XBRL taxonomy 2.5.0 is to be used from the reference date 31/12/2020.

Read more about XBRL Taxonomy information on EIOPA's website.

The Central Bank of Ireland Pension Funds Team has also produced a guide to submitting a return via XBRL using our online reporting system (ONR).

Pension Fund XBRL Returns Upload Guide | pdf 957 KB

Reduced reporters are required to submit their returns in MS Excel format, using the template provided above. To assist in this process, where a reporter is reporting on behalf of a large number of pension funds, bulk handling of returns has been enabled. This includes the ability to bulk upload, bulk finalise, and bulk sign off returns. Please consult the following guidance document for more information.

Bulk Handling of Reduced Returns | pdf 295 KB

How to Update Pension Fund Information

Where the relationship between a registered administrator and a pension fund changes, or where pension fund attributes change, the Central Bank of Ireland should be notified immediately, via the Pension Fund Information Return (PFIR). The PFIR template and guidance on how to interpret, populate and submit the return is available below.

Pension Fund Information Return (PFIR) | xls 89 KB Pension Fund Information Return (PFIR) - User Guidelines Document | pdf 1508 KB

Additional Documents

Illustrative Reporting Templates (Not for Submission) | xls 358 KB Frequently Asked Questions | pdf 449 KB Pension Fund Statistical Reporting Definitions | pdf 671 KB Central Bank of Ireland Reduced Reporting Pension Fund Workshop 27 February 2020 | pdf 2534 KB Central Bank of Ireland Pension Fund Industry Workshop Presentation 23 May 2019 | pdf 2090 KB Central Bank of Ireland Pension Fund Industry Workshop Presentation 22 August 2019 | pdf 2354 KB

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