Pension funds

A new harmonised approach for existing pension funds statistics has been implemented across the euro area since the third quarter of 2019. The statistics record the assets and liabilities of pension funds in Germany on a quarterly basis.
Regulation ECB/2018/2 on statistical reporting requirements for pension funds published on 26 January 2018 provides the legal framework for this (see link below).

The heterogeneity of the sector means there are various reporting populations and reporting formats.

Pensionskassen and Pensionsfonds are subject to supervision by BaFin. Reduced supervisory reporting requirements generally also apply to the ESCB statistics on pension funds provided that they are compatible with the statistical reporting requirements set out in Regulation ECB/2018/2. These funds submit their reports in XBRL format to BaFin, which forwards them directly to the Bundesbank. The rules published by EIOPA apply. Although a large part of the information required pursuant to Regulation ECB/2018/2 is covered by the supervisory reports, some additional data are still needed. The ECB and EIOPA have therefore worked together closely to draw up reporting forms, which, in addition to the supervisory data, also contain the information required for the pension statistics. The ECB add-ons have been integrated into EIOPA's technical framework, which is based on the data point model (DPM) – a structured representation of the data – and the XBRL.

For all pension funds not required to report to BaFin, the reporting population and scope are defined in Regulation ECB/2018/2. The Bundesbank itself defines reporting forms and technical formats for these pension funds. The technical reporting format is XML-based and is transmitted directly from the institutions to the Bundesbank.

Regulation ECB/2018/2 details derogations for the smallest pension funds in terms of total assets. They must report at least 85% of the total assets of pension funds resident in the relevant euro area Member State to the respective central bank. Above this threshold, pension funds are subject to reduced reporting requirements. Funds granted a derogation must comply with their statistical reporting requirements only once a year.

  • Those pension funds that – as measured by total assets – account for between 85% and 95% of total assets shall submit a detailed list of assets.
  • The smallest 5% of pension funds report data on their total assets on an annual basis, broken down into debt securities, equity, investment fund shares/units and other accounts receivable.

To determine whether reduced reporting requirements apply, the Bundesbank will check the total assets stated in the annual report and subsequently inform funds of any changes to the scope of reporting requirements. The objective is to avoid frequent changes to individual reporting institutions’ reporting scope over time.

Questions may be submitted at any time using the contact form on the right.