Invoice Parameters Regulation 2012 - Rpv 2012

Original Language Title: Rechnungsparameterverordnung 2012 – RPV 2012

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Read the untranslated law here: http://www.ris.bka.gv.at/Dokumente/BgblAuth/BGBLA_2012_II_454/BGBLA_2012_II_454.html

454. Regulation of the financial market authority (FMA) on the maximum percentage of the assumed interest rate and the technical surplus (account parameters regulation 2012 - RPV 2012)

On the basis of § 20 para 2a of the Pension Fund Act (PKG), Federal Law Gazette No. 281/1990, as last amended by Federal Law Gazette I no. 54/2012, is prescribed:

Scope of application

§ 1 (1) is for new beneficiaries in existing pension company contracts and pension company contracts, newly entered into after December 31, 2012, to apply this regulation. Pension Fund contracts that PKG are completed in the course of termination pursuant to § 17 PKG or a transfer in accordance with article 41, is not considered to be newly completed in the meaning of that provision.

(2) in respect of the maximum percentage for the assumed interest rate of security VRG according to section 12a PKG, as well as for the technical surplus of security VRG, this regulation to all contracts of the Pension Fund is to apply regardless of whose completion date.

Assumed interest rate

The maximum percentage for the assumed interest rate is 2 (1) 3%.

(2) the maximum percentage for the assumed interest rate of security VRG according to section 12a of the PKG is 1.75%.

(3) calculation methods used in determining the premium reserve, where the assumed interest rate and payment and pension increase separately are recognised as the combined use of the two percentages must not exceed the respective maximum assumed interest rate in accordance with paragraph 1 or 2.

Invoice-moderate income

The maximum percentage for the technical surplus is § 3 (1) 5%.

(2) the maximum percentage for the technical surplus of safety VRG according to section 12a of the PKG is 2.75%.

(3) the technical surplus must exceed the assumed interest rate by at least one percentage point.

Entry into force

4. (1) this regulation with 1 January 2013 enter into force.

(2) with expiry of the 31 December 2012 is the regulation of the financial market authority (FMA) on the maximum percentage of the assumed interest rate and the technical surplus (account parameters regulation - RPV), Federal Law Gazette II No. 24 / 2011 except force.

Ettl Pribil