ORSA vs ORA [14]

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Bullet points include: E.g. IORP II Article (28) (“own-risk assessment”) requires the risk assessment to include: … (e) an assessment of the risks to members and beneficiaries relating to the paying out of their retirement benefits and the effectiveness of any remedial action taking into account, where applicable: (i)  indexation mechanisms; (ii)  benefit reduction mechanisms, including the extent to which accrued pension benefits can be reduced, under which conditions and by whom; (f) a qualitative assessment of the mechanisms protecting retirement benefits, including, as applicable, guarantees, covenants or any other type of financial support by the sponsoring undertaking, insurance or reinsurance by an undertaking covered by Directive 2009/138/EC or coverage by a pension protection scheme, in favour of the IORP or the members and beneficiaries; …

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