Information Duties Regulation Pensionskassen - Infov-Pk

Original Language Title: Informationspflichtenverordnung Pensionskassen – InfoV-PK

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424 regulation of the financial market authority (FMA) on content and structure of information of a Pension Fund beneficiaries, beneficiaries, survivors or insured (information duties regulation Pensionskassen - InfoV-PK)

On the basis of article 19, paragraph 6, and article 19b para 3 of the Pension Fund Act - PKG, BGBl. No. 281/1990, as last amended by the Federal Act Federal Law Gazette I no. 54/2012, is prescribed:

Definitions

§ 1. The purposes of this regulation the following definitions shall apply: 1 annual account message: by a pension fund in accordance with article 19, para. 3 PKG to beneficiaries (entitled) or pursuant to section 19 para 4 PKG beneficiaries information to be submitted annually.

2nd year: the year the annual account message refers to;

3. VRG: Investment and risk Community pursuant to § 12 para 1 PKG.

4. Sub-VG: Sub collective investment undertaking pursuant to § 12 para 6 PKG;

5. safety ERF: ERF pursuant to section 12a paragraph 1 PKG;

6 relevant parameters: the used interest rate and technical surpluses, the used life table, along with any changes, the individual or collective method of calculation for the survivor's pension, the individual or global leadership of equalization, as well as the ratio of equalization to the premium reserve.

Annual account message to the beneficiaries (entitled)

2. (1) the annual account message to the beneficiaries (entitled) has to contain in particular the following: 1. without prejudice to other disclosure company, address, seat, telephone - and fax number as well as Internet and E-Mail address of the Pension Fund, as well as a possible branch;

2. name, address and legal form of the (former) employer with which the Pension Fund contract completed;

3. date to which the information relates;

4. name, sex and date of birth of the beneficiaries (entitled);

5. label the relevant ERF, sub-VG, or security VRG;

6 designation of the account of pension of the beneficiaries (entitled), unless there is an own label;

7. in the year under review, received contributions broken down by employer's contributions, employee contributions in accordance with Article 108a of the income tax Act (EStG 1988) 1988, and other employee contributions;

8 in the reporting year received transmissions divided according to a) transfers from employer contributions, b) transfers from workers contributions in accordance with Article 108a of the EStG 1988, section 108i para 1 No. 3 lit. (c) of the EStG 1988 and § 17 para 1 No. 4 lit. b operational staff and self-employment provisions Act (BMSVG) as well as c) transfers from other employee contributions;

9 premium credited. in the year under review for employee contributions in accordance with Article 108a of the EStG 1988;

10 amount of employee contribution, was submitted for a premium in accordance with Article 108a of the EStG 1988;

11 capital level of the pension company commitment on the basis of the premium reserve;

12 amount of administrative costs pursuant to section 16a para 1 to 4a PKG, whereby the administrative costs in accordance with article 16a para 4 PKG as a percentage of the relevant base can be withheld in the year under review;

13 acquired rights to old-age pension, invalidity pension and benefits for survivors;

14 forecast on the expected level of retirement benefits;

15 risk potential and structure of the investment portfolio including the hint that the distribution of assets among various asset classes, can change depending on of the current development of the investment risk, the fee structure and payment obligations,

16 average annual performance of the VRG assets related to the year under review, where the last three years and the past five years, as well as an appropriate measure of risk on the basis of the performance in the last five years, taking into account the respective values of the relevant Irgs in the case of a merger of the VRG are available;

17. for the pension company commitment relevant parameters of the business plan;

18 Note the existence of a minimum yield guarantee pursuant to § 2 para 2 to 4 PKG including the hint that it may cause existing guarantee cuts the provision and thus the pension benefits.

(2) the contributions and transfers pursuant to paragraph 1 Nos. 7 and 8 including administrative costs and, where appropriate, insurance tax to be specified.

(3) by the forecast according to para 1 Z 14 is to give a realistic as possible picture of the pension benefits expected to the imputed retirement age according to the pension company commitment the beneficiaries on the basis of the previously acquired entitlement under assumption of staying right the last contributions of the employer and of the beneficiaries (entitled). The relevant parameters of the relevant ERF are consider sub-VG or safety VRG. (Future) transpires the contributions of the employer and of the beneficiaries (entitled) is known, the Pension Fund at the time of the creation of the forecast she can attract amended contributions to produce the forecast, where are the reasons for the adoption of the modified. Calculating the respective factor for the development of the premium reserve and 2. income development a are 1) with a zero interest rate scenario b) with an interest rate scenario in the amount of the respective invoice interest, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated to create a scenario of interest equivalent to the respective technical surplus based.

(4) the information referred to in paragraph 1 can be omitted Z 15 to 18, if the pension company commitment is a guarantee with unlimited obligation to make additional contributions of the employer. By way of derogation to paragraph 3 is forecast of the amount of the pension benefits to be expected in the case of a defined benefit promise with unlimited obligation to make additional contributions of the employer.

(5) in the case of contribution commitments, it is pointed out that the beneficiaries (entitled) bears the investment risk. Furthermore, it is explicitly pointing to the possibility of occurrence of losses in the invested assets. These instructions in any case must be done at the disposition of own amounts of beneficiaries (entitled).

(6) in the case of historical representations, it is also pointed out that when the value of the investment not of consistent increases in value can be assumed, as it is usually subject to fluctuations due to the investment in the capital market. Similarly, it is to point out that data on the performance of the investment related to past values and the value development in the past can be to any reliable conclusions on the future value of the investment.

Annual account message to the beneficiaries

3. (1) the annual account message on the beneficiaries has to contain in particular the following: 1. without prejudice to other disclosure company, address, seat, telephone - and fax number as well as Internet and E-Mail address of the Pension Fund, as well as a possible branch;

2. name, address and legal form of the (former) employer with which the Pension Fund contract completed;

3. date to which the information relates;

4. name, gender, social security number and date of birth of the beneficiary;

5. name, gender, date of birth, any in the supply services of built-in with people, where the survivor's pension on an individual basis is provided for in the pension company contract, including the hint that no mention of spouses, cohabitees, or children can lead to a limited survivor benefit

6 designation of relevant ERF, sub-VG, or security VRG;

7 name the pension account of the person entitled, if there is an own label;

8. type of pension benefit;

9 gross pension amount divided by their tax relevance a) in pension benefits from employer contributions, b) pension benefits from employee contributions in accordance with Article 108a of the EStG 1988, section 108i para 1 No. 3lit. c ITA and section 17 para 1 No. 4 lit. b BMSVG and c) pension benefits from other employee contributions;

10. where appropriate, amount of guaranteed pension benefits in accordance with section 12a paragraph 1 Z 2 PKG.

11. where appropriate, the amount of credit pursuant to § 2 para 2 and 3 PKG;

12 capital level of the pension company commitment on the basis of the premium reserve;

13 amount of withheld during the year administrative costs in accordance with article 16a, paragraph 1, 4, and 4a PKG, which can be specified of administrative costs pursuant Article 16a para 4 PKG as a percentage of the relevant base;

14 to be transferred if necessary in the next fiscal year grant to the pension in accordance with article 16a para 4 b Z 3 PKG;

15 risk potential and structure of the investment portfolio including the hint that the distribution of assets among various asset classes, can change depending on of the current development of the investment risk, the fee structure and payment obligations,

16.

average annual performance of the VRG assets related to the year under review, provided that the last three years and the past five years, as well as an appropriate measure of risk on the basis of the performance in the last five years, taking into account the respective values of the relevant Irgs in the case of a merger of the VRG are to add bar;

17. for the pension company commitment relevant parameters of the business plan;

18 Note the existence of a minimum yield guarantee pursuant to § 2 para 2 to 4 PKG including the hint that it may cause existing guarantee cuts the provision and thus the pension benefits.

(2) the information referred to in paragraph 1 can be omitted Z 15 to 18, if the pension company commitment is a guarantee with unlimited obligation to make additional contributions of the employer.

(3) in the case of defined-contribution commitments, it is pointed out that the beneficiaries bear the investment risk. Furthermore, it is explicitly pointing to the possibility of occurrence of losses in the invested assets. For the investment of own amounts of beneficiaries, these instructions in any case must be done.

(4) in the case of historical representations, it is also pointed out that when the value of the investment not of consistent increases in value can be assumed, as it is usually subject to fluctuations due to the investment in the capital market. Similarly, it is to point out that data on the performance of the investment related to past values and the value development in the past can be to any reliable conclusions on the future value of the investment.

Information in the event of the performance claim

§ 4. The information to which beneficiaries in the event of the performance claim must include in particular the following: 1. without prejudice to other disclosure company, address, seat, telephone - and fax number as well as Internet and E-Mail address of the Pension Fund, as well as a possible branch;

2. name, address and legal form of the (former) employer with which the Pension Fund contract completed;

3. date to which the information relates;

4. name, gender, social security number and date of birth of the beneficiary;

5. name, gender, date of birth, any in the supply services of built-in with people, where the survivor's pension on an individual basis is provided for in the pension company contract, including the hint that no mention of spouses, cohabitees, or children can lead to a limited survivor benefit

6 designation of relevant ERF, sub-VG, or security VRG;

7 name the pension account of the person entitled, if there is an own label;

8. type of pension benefits and, where appropriate, indication of a fixed term of pension;

9 gross pension amount divided by their tax relevance in a) pension benefits from employer contributions, b) pension benefits from employee contributions in accordance with Article 108a of the EStG 1988, section 108i para 1 No. 3 lit. c ITA and section 17 para 1 No. 4 lit. b BMSVG and c) pension benefits from other employee contributions;

10. where appropriate, amount of guaranteed pension benefits in accordance with section 12a paragraph 1 Z 2 PKG.

11. where appropriate, the amount of credit pursuant to § 2 para 2 and 3 PKG;

12 Aufrollungsmodalitäten of pension payments;

13 to be transferred if necessary in the next fiscal year grant to the pension in accordance with article 16a para 4 b Z 3 PKG;

14 basics of the tax rules applicable to the pension, including the basics of common taxation pursuant to § 47 para 4 of the EStG 1988;

15 date of commencement of the pension payment;

16 Pensionszahlungsmodalitäten, in particular the number of payments per year, payment dates, payment way and time and amount of special payments.

Information before changing into an other VRG or sub-VG

5. (1) the information to be given to a beneficiary (entitled) or a surviving on request before a possible change in an other VRG or sub-VG from the pension funds has to contain the following: 1 the estimated transfer amount, also divided into coverage and equalization;

2. relevant parameters of the business plan of issuing VRG, sub-VG or safety VRG;

3. relevant parameters of the business plan of include VRG or sub-VG;

4. investment strategy, income opportunities and risks of receiving VRG or sub-VG;

5. forecast of the future development of entitlement and pension benefits, in the transferor VRG, sub-VG or safety VRG and the receiving VRG or sub-VG;

6 previous change history and remaining Exchange along with a short explanation.

(2) the information referred to in paragraph 1 has the investment strategy to contain the average expectation of earnings and the likelihood of a negative earnings trend at least in the current and in the following year no. 4. If there is no defined benefit promise with unlimited obligation to make additional contributions of the employer, is expressly to inform the beneficiaries or assigns to what extent, if necessary see note and taking into account a minimum yield guarantee, he bears the investment risk. It is also pointed out that when the value of the investment not of consistent increases in value can be assumed, as it is usually subject to fluctuations due to the investment in the capital market.

(3) by the forecast under par. 1 Z 5 is a most realistic picture of the future development of further benefits and the pension benefits expected to the imputed retirement age according to the pension company commitment to give on the basis of the previously acquired entitlement under assumption of staying right the last contributions of the employer and of the beneficiaries (entitled). The relevant parameters of the VRG are consider sub-VG or safety VRG and the receiving VRG or sub-VG, as well as the contributions of the previous fiscal year. Calculating the respective factor for the development of the premium reserve and 2. income development a are 1) with a zero interest rate scenario b) with an interest rate scenario in the amount of the respective invoice interest, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated to create a scenario of interest equivalent to the respective technical surplus based. Directly related, it is clearly pointed out that the calculation of the forecasts without taking into account the investment strategies, income opportunities and risks of issuing VRG, sub-VG security VRG and the receiving VRG or sub-VG were performed. A comparison of investment strategies, income opportunities and risks of issuing VRG to connect sub-VG or safety VRG and the receiving VRG or sub-VG is the forecasts.

Information prior to entering a security VRG

6. (1) the information from the pension funds to be given a beneficiaries (entitled) or a surviving on request before a possible change in a security VRG has to contain the following: 1 the estimated transfer amount, also divided into coverage and equalization;

2. relevant parameters of the business plan of issuing VRG or sub-VG;

3. relevant parameters of the business plan of the host security VRG;

4. investment strategy, income opportunities and risks of the host security VRG;

5. forecast of the future development of entitlement and pension benefits, in the issuing VRG or sub-VG and the host security VRG;

6 previous change history and remaining Exchange along with a short explanation;

7. expected level of the first guaranteed monthly pension;

8 ways of valorisation of the guaranteed first monthly pension;

9. height of administrative costs in accordance with article 16a para 4a PKG;

10. Note on the fate of the beneficiaries in the security VRG for termination of the Pension Fund contract.

(2) the information referred to in paragraph 1 has the investment strategy to contain the average expectation of earnings and the likelihood of a negative earnings trend at least in the current and in the following year no. 4. Is the beneficiaries or assigns expressly to tell to what extent he bears the investment risk. It is also pointed out that when the value of the investment not of consistent increases in value can be assumed, as it is usually subject to fluctuations due to the investment in the capital market.

(3) by the forecast under par. 1 Z 5 is a most realistic picture of the future development of further benefits and the pension benefits expected to the imputed retirement age according to the pension company commitment to give on the basis of the previously acquired entitlement under assumption of staying right the last contributions of the employer and of the beneficiaries (entitled). The relevant parameters of the transferor VRG or sub-VG and the host security VRG, as well as the contributions of the previous financial year are taken into account. 1 are the calculation.

the respective factor for the development of the premium reserve and 2. income development a) with a zero interest rate scenario b) with an interest rate scenario in the amount of the respective invoice interest, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated with a scenario of interest equal to the respective technical excess of reason to put. Directly related, it is clearly pointed out that the calculation of the forecasts without taking into account the investment strategies, income opportunities and risks of issuing VRG or sub-VG and the host security VRG were performed. A comparison of investment strategies to connect profit opportunities and risks of issuing VRG or sub-VG and the host security VRG is the forecasts.

(4) the information referred to in paragraph 1 is no. 6 also point out that the next change of beneficiaries only in the former VRG is possible.

(5) can specify also the expected level of guaranteed first monthly pension in the case of a survivor's transition within the framework of which paragraph 1 Z 7 is information in accordance with and pointed out that the ongoing pension payments are adjusted.

Information before changing paid in an occupational pension group insurance

7. (1) the information to be given a beneficiaries (entitled) or a surviving on request before a possible change in an occupational pension group insurance paid by the Pension Fund has to include the following: 1. estimated amount of Unverfallbarkeitsbetrages;

2. relevant parameters of the business plan of issuing VRG, sub-VG or safety VRG;

3. presentation of the systematic differences between pension company commitments and occupational collective insurance;

4. forecast of the future development of the pension benefits in the transferor VRG, sub-VG or safety VRG;

5. Note on the irrevocability of this change.

(2) within the framework of the information pursuant to paragraph 1 No. 3 has to indicate the pension fund that is in pension company commitments and occupational collective insurance pension provision products, which although is a largely identical treatment in terms of employment and social, but differing in terms of investment, warranty service and change the used pension boards. Similarly, it is to mention that at pension company commitments on the basis of the community use of income opportunities and risks regardless of the warranty options in the context of security VRG or a minimum yield guarantee basically no warranties are provided and the possibility of amending the used pension boards, while occupational collective insurance basically a guaranteed minimum pension and the use of pension boards valid for inclusion in the occupational pension group insurance is provided.

(3) by the forecast under par. 1 Z 4 is a most realistic picture of the future development of the pension benefits to give on the basis of the previously acquired entitlement. The relevant parameters of the VRG are consider sub-VG or safety VRG. Calculating the rate of issuing VRG, sub-VG or safety VRG are 1 for the development of the premium reserve and 2. income development a) with a zero interest rate scenario b) with an interest rate scenario amounting to invoice interest of issuing VRG, sub-VG or safety VRG, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated, with a scenario of interest equivalent to the technical surplus of the transferor VRG to create sub-VG or safety VRG underlying.

Information before changing at an upright working relationship in an occupational pension group insurance

8. (1) the information to be given a beneficiaries upon request before a potential change at an upright working relationship in an occupational pension group insurance from the pension funds has to contain the following: 1. estimated amount of Unverfallbarkeitsbetrages;

2. relevant parameters of the business plan of issuing VRG, sub-VG or safety VRG;

3. presentation of the systematic differences between pension company commitments and occupational collective insurance;

4. forecast of the future development of the entitlement and pension benefits in the transferor VRG, sub-VG or safety VRG;

5. Note on surviving possibilities of Exchange or note that no Exchange can be more.

(2) within the framework of the information pursuant to paragraph 1 No. 3 has to indicate the pension fund that is in pension company commitments and occupational collective insurance pension provision products, which although is a largely identical treatment in terms of employment and social, but differing in terms of investment, warranty service and change the used pension boards. Similarly, it is to mention that at pension company commitments on the basis of the community use of income opportunities and risks regardless of the warranty options in the context of security VRG or a minimum yield guarantee basically no warranties are provided and the possibility of amending the used pension boards, while occupational collective insurance basically a guaranteed minimum pension and the use of pension boards valid for inclusion in the occupational pension group insurance is provided.

(3) the forecast according to para 1 Z 4 to give a most realistic picture of the future development of further benefits and the pension benefits expected to the imputed retirement age according to the pension company commitment the beneficiaries on the basis of the previously acquired entitlement under assumption of staying right the last contributions of the employer and of the beneficiaries (entitled). The relevant parameters of the VRG are consider sub-VG or safety VRG, as well as the contributions of the previous fiscal year. The calculation are 1 assumed interest rate of issuing VRG, sub-VG or safety VRG for the development of the premium reserve and 2. income development a) with a zero interest rate scenario, b) with a scenario of interest amounting to invoice interest of issuing VRG, sub-VG or safety VRG, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated, with a scenario of interest equivalent to the technical surplus of the transferor VRG to create sub-VG or safety VRG underlying.

Information before changing paid into a pension fund

9. (1) the information from the Pension Fund to an insured person on request before a possible change in paid into a pension fund has to include the following: 1. relevant parameters of the business plan of include VRG, sub-VG or safety VRG;

2. presentation of the systematic differences between pension company commitments and occupational collective insurance;

3. forecast of the future development of the pension benefits in the receiving VRG, sub-VG or safety VRG;

4. Note on the irrevocability of this change.

(2) within the framework of the information pursuant to paragraph 1 No. 2 has to indicate the pension fund that is in pension company commitments and occupational collective insurance pension provision products, which although is a largely identical treatment in terms of employment and social, but differing in terms of investment, warranty service and change the used pension boards. Similarly, it is to mention that at pension company commitments on the basis of the community use of income opportunities and risks regardless of the warranty options in the context of security VRG or a minimum yield guarantee basically no warranties are provided and the possibility to change the used pension boards, while occupational collective insurance basically a guaranteed minimum pension and the use of valid upon completion of the pension boards is provided.

(3) the forecast under par. 1 Z 3 to give a realistic as possible picture of the future development of the pension benefits on the basis of the Unverfallbarkeitsbetrages purchased under the occupational pension group insurance. The relevant parameters of the receiving VRG are consider sub-VG or safety VRG. Calculating the rate of receiving VRG, sub-VG or safety VRG are 1 for the development of Equalization and 2. income development a) with a zero interest rate scenario b) with an interest rate scenario amounting to invoice interest of recorded VRG, sub-VG, or security VRG, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated, with a scenario of interest equivalent to the technical surplus of receiving VRG, to create sub-VG or safety VRG underlying.


Information before changing at an upright working relationship in a pension fund

10. (1) the information from the Pension Fund to an insured person on request before a potential change at an upright working relationship in a pension fund has to include the following: 1. relevant parameters of the business plan of include VRG, sub-VG or safety VRG;

2. presentation of the systematic differences between pension company commitments and occupational collective insurance;

3. forecast of the future development of the entitlement and pension benefits;

4. Note to existing Exchange opportunities or note that no Exchange can be more.

(2) within the framework of the information pursuant to paragraph 1 No. 2 has to indicate the pension fund that is in pension company commitments and occupational collective insurance pension provision products, which although is a largely identical treatment in terms of employment and social, but differing in terms of investment, warranty service and change the used pension boards. Similarly, it is to mention that at pension company commitments on the basis of the community use of income opportunities and risks regardless of the warranty options in the context of security VRG or a minimum yield guarantee basically no warranties are provided and the possibility of amending the used pension boards, while occupational collective insurance basically a guaranteed minimum pension and the use of pension boards valid for inclusion in the occupational pension group insurance is provided.

(3) the forecast according to para 1 Z 3 to give a realistic as possible picture of the future development of further benefits and the pension benefits expected to the imputed retirement age according to the pension company commitment on the basis of the Unverfallbarkeitsbetrages purchased under the occupational pension group insurance under assumption of staying right the last paid premiums of the employer and the insured person. The relevant parameters of the receiving VRG are consider sub-VG or safety VRG, as well as the premiums of the previous fiscal year. Calculating the rate of receiving VRG, sub-VG or safety VRG for the premium reserve and 2. income development a are 1) with a zero interest rate scenario b) with an interest rate scenario amounting to invoice interest of recorded VRG, sub-VG, or security VRG, c) if lower than after lit. b, with an interest rate scenario amount applicable at the time of the information maximum percentage for the assumed interest rate) and (d) If an indication after lit. c is eliminated, with a scenario of interest equivalent to the technical surplus of receiving VRG, to create sub-VG or safety VRG underlying.

Outline

§ 11.  The information referred to in sections 5 to 10 are in the article 5, paragraph 1, article 6, paragraph 1, article 7, paragraph 1, article 8, paragraph 1, article 9, paragraph 1 and § 10 ABS. 1 provided order to integrate.

Entry into force

§ 12. This Regulation shall enter into force 1 January 2013. § 2 and § 3 are for the first time annual account statements at the date 31 December 2013 to apply. section 4 is to apply for the first time on information issued in the event of the performance claim from 1 January 2014.

Ettl Pribil