About Iron – Your Pensions Reporting Solution
From Q3 2019, new reporting regulations come into force across the EEA for Pension Funds to submit detailed regulatory information to the European Insurance and Occupational Pensions Authority (EIOPA) via their national supervisors.
The new regime: IORP II has similarities with the Solvency II reporting regime which was introduced for European insurance companies in 2016. Information will have to be supplied to EIOPA in an XBRL (eXtensible Business Reporting Language) format which is increasingly becoming the standard for reporting regulatory financial information.
Based on our experience of European regulatory reporting, FS Assist is developing a new, Excel-based reporting solution for Pension Funds.
This will enable you to complete the templates in a simple spreadsheet environment. Using standard Excel workbooks, you can easily type in, copy/paste or link data into the reporting templates utilising the full flexibility of Excel.
Once populated the templates can be validated to ensure the data is correct, complete and compliant with the regulator’s requirements.
The completed workbooks can then be converted into XBRL or any other format required by your local regulator for submission to them.
For most Pension Funds, this provides a quick and simple way of completing the new reports, with a minimum of IT overhead (all you need is a computer with a copy of Excel).
Extensive validation tests will allow you to ensure that all information has been reported correctly before you use the data export function to convert your information into the required format for submission to your national regulator.
Ease of use, speed of completion and comprehensive training and customer support are the hallmarks of our solutions, which will make this the simplest way to complete your regulatory reporting.