1.

Where an IORP itself provides cover against biometric risks or guarantees either an investment performance or a given level of benefits, Member States shall require that IORP to provide for an effective actuarial function to: coordinate and oversee the calculation of technical provisions; assess the appropriateness of the methodologies and underlying models used in the calculation of technical provisions and the assumptions made for this purpose; assess the sufficiency and quality of the data used in the calculation of technical provisions; compare the assumptions underlying the calculation of the technical provisions with the experience; inform the administrative, management or supervisory body of the IORP of the reliability and adequacy of the calculation of technical provisions; express an opinion on the overall underwriting policy in the event of the IORP having such a policy; express an opinion on the adequacy of insurance arrangements in the event of the IORP having such arrangements; and contribute to the effective implementation of the risk management system.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.