381. Regulation of the financial market authority (FMA) establishing the criteria for the management of the business planned provision for management costs after pension commencement (administrative costs provision Regulation 2013 - VKRStV 2013)
On the basis of § 20 5 pension fund law - PKG, BGBl. No. 281/1990, as last amended by Federal Law Gazette I no. 184/2013, is prescribed:
§ 1 (1) is the business planned provision for after the start of pension administration costs (administrative provisions), taking into account the agreed principles of actuarial mathematics to make economically adequate and, taking into consideration the interests of beneficiaries and beneficiaries in accordance with the provisions of this regulation.
(2) the provision of the administrative costs must be uniform within a pension fund for all investment and risk groups.
(3) on the basis of the provisions of this regulation has in the business plan of the Pension Fund was laying down of the leadership of the provision for administrative costs (article 20 PKG) to be carried out.
(4) a pension company commitment is managed jointly by several pension funds, because each has cut pension fund to make a provision for administrative costs as it unwinds also the pension benefit.
Calculation of the provision for administrative costs
§ 2 (1) is an internationally recognised actuarial methods to calculate where in the future to take into account are to expected increases of in administrative costs the administrative costs provision.
(2) as an alternative to paragraph 1, also the calculation of the provision for administrative costs is allowed using the method. The net invoice interest rate may be up 3.0%.
(3) the minimum standard with regard to the used biometric accounting principles is set with generation tables in the expression for employees.
(4) in the event of a substantial change for the choice of accounting principles (article 20 para 2 Z 3 PKG) pension funds are obliged to adapt the accounting bases immediately relevant conditions.
(5) under - or overlaps, which on the basis of incorrect assumptions in the accounting principles (article 20 para 2 Z 3 PKG) incurred, should be no longer than ten years; the compensation has annually still existing obligations for that at the end of the respective fiscal year at least to be one-tenth of the original amount.
3. (1) has to be carried out on the basis of unit costs for each beneficiaries the actuarial calculation of the provision for administrative costs.
(2) for calculating the unit costs, all costs incurred in the payment stage, are taken into account. Not to include in this calculation are those costs that are incurred in the course of the investment of the assets associated with the investment and risk sharing group. The calculation is to connect to the application for approval of the business plan. By way of derogation from the balance sheet date of the Pension Fund of the date for the inventory determination (number of beneficiaries and beneficiaries for the determination of unit costs) settable 30 September up to the balance sheet date in the business plan in the period.
(3) if it is connected to the determination of unit costs with disproportionate difficulties, the Pension Fund can assume the standard cost established by the FMA.
(4) the standard costs that are required in the payout phase for a beneficiary are set with 85 euro per year.
(5) the standard cost amount referred to in paragraph 4 will be according to the consumer price index announced by the Statistics Austria 1996 - developed special outline "Services" with the value resulting from the change in the value for the month of July of a calendar year compared to the figure announced for January 2001. The new amount shall apply from 1 January of the following year.
(6) the Pension Fund may result in the administrative costs provision also to proceedings other than in accordance with paragraphs 1 to 3. In this case, however, the appropriateness of the amount of the provision for administrative costs is to check at least every three years by a control account in accordance with paragraphs 1 to 3. Procedures, as well as control account are set in the business plan.
Balancing a sub-letting or overlap
§ 4 is the first balance sheet date after entry into force of this regulation on the basis of the application of this regulation on the administrative costs accrual calculation methods under - or coverage compared with the previously formed administrative costs provision, this under - or coverage within at the latest ten years must be to compensate; the compensation has annually still existing obligations for that at the end of the respective fiscal year at least to be one-tenth of the original amount.
Home and expiry
§ 5. This regulation enters into force with expiration of the day of the announcement and is to apply for the first time to fiscal years beginning after December 31, 2012; at the same time is the Ordinance of the Federal Minister for finance for the implementation of the Pension Fund Act (expenses provision Regulation), BGBl. II No 16 / 2001, override.
Ettl Kumpf Müller