08/12/2016 (Agence Europe) – On Thursday 8 December, the Council of the EU formally adopted the inter-institutional agreement on the revision of the 'occupational pension institutions' directive (IORP II) (see EUROPE 11675 and 11584). The legislative revision brings in rules to cover cross-border transfers of occupational pension schemes, for the first time ever. The pension statement sent out regularly to the beneficiaries has also been clarified and improved. Member states have two years to transpose the revised directive into their national legislations. (MB)