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by Michael Beijer

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Hi, I’m Michael Beijer, the creator of this site. I’m a Dutch-English technical/patent translator with over 25 years of experience.  

For translation work, please contact me via:

Email: michael@beijer.uk
Mobile: +44 (0)747-5771720
Proz: My Proz.com profile

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wordbook:terms:ibp-ofp-iorp

OFP/IBP = IORP

Organisme voor de Financiering van Pensioenen (OFP) =
Instelling voor Bedrijfspensioenvoorziening (IBP)
=
Institution for Occupational Retirement Provision (IORP)

‘Pensions reform in the European Union: Recent developments after the implementation of the IORP directive’
by Hans van Meerten

The OFP must consist of at least two bodies: a general assembly and a board of directors. The sponsoring undertakings whose pension plans are operated by the OFP are members of the general assembly. The general assembly has the overall supervision and oversight responsibility, and may be granted broad powers. The OFP must have at least one operational body: the board of directors. The latter defines the general policy of the OFP and is responsible for the operational activities of the OFP. An interesting and attractive feature is the so-called social committees. In order to respect the local social and labour regulation, one or more social committees may be set up to allow the OFP to meet the requirements of the host country's social and labour legislations applicable to the pension plans that it operates.

https://link.springer.com/article/10.1057/pm.2009.22

References

wordbook/terms/ibp-ofp-iorp.txt · Last modified: 2020/12/10 18:11 (external edit)