Additional Allocation To The Equalization Provision (Zzv)

Original Language Title: Zusätzliche Zuweisung zur Schwankungsrückstellung (ZZV)

Read the untranslated law here: https://www.global-regulation.com/law/austria/2996947/zustzliche-zuweisung-zur-schwankungsrckstellung-%2528zzv%2529.html

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453. Regulation of the financial market authority (FMA) on the additional allocation to the Equalization provision (ZZV)

On the basis of Article 24a par. 3 of the Pension Fund Act - PKG, BGBl. No. 281/1990, as last amended by Federal Law Gazette I no. 54/2012, is prescribed:

General terms and conditions

§ 1. The additional allocation to the Equalization pursuant to § 24a 3 PKG has, taking into account the pension company commitments must be maintained in the respective investment and risk group (VRG).

§ 2. When an additional allocation to the Equalization of the assumed interest rate must not fall below.

Uniform pension adjustment for beneficiaries

§ 3. The extent of the additional allocation to the Equalization provision has to take into account the pension changes took place in the past.

Uniform income allocation to beneficiaries (entitled)

§ 4. The extent of the additional allocation to the Equalization provision has to be considered the result of allocations in the past.

Amount of invoice net interest and invoice-moderate income

§ 5. The extent of the additional allocation to the Equalization provision has to take into account the positive correlation with the amount of invoice interest, and of the technical surplus.

Special features of the security VRG

§ 6. At a security VRG according to section 12a of the PKG, the volatility of the underwriting result to be paid is additional allocation to the Equalization and in determining the extent.

Extent the Equalization

§ 7. The extent of the additional allocation to the Equalization provision has to take into account the negative correlation with the amount of the available volatility reserve.

Capital market situation

§ 8. The extent of the additional allocation to the Equalization provision has to take into account the positive correlation with the level and probability of expected future minimum income.

Entry into force

§ 9. This Regulation shall enter into force 1 January 2013.

Ettl Pribil