beneficiary — a person receiving retirement benefits (6)

biometric risks — risks linked to death, disability and longevity Article 6

competent authority — a national authority designated to carry out the duties provided for in this Directive (8)

cross-border activity — operating a pension scheme where the relationship between the sponsoring undertaking, and the members and beneficiaries concerned, is governed by the social and labour law relevant to the field of occupational pension schemes of a Member State other than the home Member State (19)

durable medium — an instrument which enables a member or a beneficiary to store information addressed personally to that member or beneficiary in a way that is accessible for future reference and for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored (17)

home Member State — the Member State in which the IORP has been registered or authorised and in which its main administration is located in accordance with Article 9 (10)

host Member State — the Member State whose social and labour law relevant to the field of occupational pension schemes is applicable to the relationship between the sponsoring undertaking and members or beneficiaries (11)

member — a person, other than a beneficiary or a prospective member, whose past or current occupational activities entitle or will entitle him/her to retirement benefits in accordance with the provisions of a pension scheme (5)

MTF — a multilateral trading facility or MTF as defined in point (22) of Article 4(1) of Directive 2014/65/EU (15)

multilateral trading facility — borrowed from another act; this instrument states no meaning of its own (15)

organised trading facility — borrowed from another act; this instrument states no meaning of its own (16)

OTF — an organised trading facility or OTF as defined in point (23) of Article 4(1) of Directive 2014/65/EU (16)

pension scheme — a contract, an agreement, a trust deed or rules stipulating which retirement benefits are granted and under which conditions (2)

prospective member — a person who is eligible to join a pension scheme (7)

receiving IORP — an IORP receiving all or a part of a pension scheme's liabilities, technical provisions, and other obligations and rights, as well as corresponding assets or cash equivalent thereof, from an IORP registered or authorised in another Member State (13)

regulated market — borrowed from another act; this instrument states no meaning of its own (14)

reinsurance — one of the following: (a) the activity consisting in accepting risks ceded by an insurance undertaking or third-country insurance undertaking, or by another reinsurance undertaking or third-country reinsurance undertaking; (b) in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's; or (c) the provision of cover by a reinsurance undertaking to an institution that falls within the scope of Directive (EU) 2016/2341 of the European Parliament and of the Council Directive (EU) 2016/2341 of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (OJ L 354, 23.12.2016, p. 37) (1)

retirement benefits — benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof (4)

sponsoring undertaking — any undertaking or other body, regardless of whether it includes or consists of one or more legal or natural persons, which acts as an employer or in a self-employed capacity or any combination thereof and which offers a pension scheme or pays contributions to an IORP (3)

transferring IORP — an IORP transferring all or a part of a pension scheme's liabilities, technical provisions, and other obligations and rights, as well as corresponding assets or cash equivalent thereof, to an IORP registered or authorised in another Member State (12)