Not just banks: stress tests will also take place until 10 August for European occupational pension funds, as well as an assessment of the solvency of the institutions that administer them. This was announced by the European Insurance and Occupational Pensions Authority (Eiopa), specifying that the objective is to assess how well European pension funds are able to withstand market fluctuations, also in light of the vulnerability caused by the long-term of low interest along with other macro financial phenomena.
“Pension funds are facing a big challenge, both due to the collapse in interest rates and the lengthening of the average life expectancy – said Gabriel Bernardino, president of Eiopa -. The stress tests will offer useful insights into the health of institutions administering occupational pensions."
Stress test data will be collected by the respective national authorities and the final results are expected next December.
