The European Insurance and Occupational Pensions Authority (EIOPA) in December 2022 published a report on cross-border Institutions for Occupational Retirement Provisions (IORPs), i.e. corporate pension plans, in the European Economic Area (EEA). According to EIOPA, the number of active cross-border IORPs fell from 33 in 2020 to 31 in 2021. Such plans cover approximately 93,000 members and beneficiaries and manage assets worth around €13bn, up from 70,000 members and

General Electric (GE) in September 2016 has had its European pension fund approved by FSMA, Belgium’s financial supervisory authority and the regulatory body for pension funds. GE is encouraging its existing European-based pension plans to join the fund, which takes the legal form of an Organisme de Financement de Pensions (OFP), Belgium’s IORP-compliant vehicle for pensions provisions. At this early stage, a management committee has been appointed. An IORP