Recital 21
Competent authoritiesas defined in Article 46 should also maintain a vigilant but proportionate approach in relation to the supervision of institutions for occupational retirement provisionan institution for occupational retirement provision as defined in Article 6, point (1), of Directive (EU) 2016/2341 which, in accordance with Article 31 of Directive (EU) 2016/2341, outsource a significant part of their core business, such as asset management, actuarial calculations, accounting and data management, to service providers.