1. By 13 January 2023, the Commission shall review this Directive and report on its implementation and effectiveness to the European Parliament and to the Council.

2. The review referred to in paragraph 1 shall in particular consider:

(a) the adequacy of this Directive from a prudential and governance point of view;

(b) cross-border activity;

(c) the experience acquired in applying this Directive and its impact on the stability of IORPs;

(d) the Pension Benefit Statement.