Amendment Of The Pension Fund Act, Of The Insurance Supervision Law, Operating Pension Law, Of The Management Trust Profession Act, The Lawyer Order And Of The Salary Fund Act 20...

Original Language Title: Änderung des Pensionskassengesetzes, des Versicherungsaufsichtsgesetzes, des Betriebspensionsgesetzes, des Wirtschaftstreuhandberufsgesetzes, der Rechtsanwaltsordnung und des Gehaltskassengesetzes 20...

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54. Federal law be changed with the pension fund law, the insurance supervision law, the operating pension law, the economic trust professional law, the lawyer order and the salary Fund Act 2002

The National Council has decided:

Article 1

Amendment of the Pension Fund Act

The Pension Fund Act, Federal Law Gazette No. 281/1990, as last amended by Federal Law Gazette I no. 35/2012, is amended as follows:

1 paragraph 3 para 3:

"(3) several employers who belong to a group according to § 15 of the Stock Corporation Act (AktG) or according to article 115 of the law on private limited companies (GmbHG), are equal to keep an employer within the meaning of paragraph 1."

2. pursuant to section 5, no. 4 following Z 4a is inserted:



"4a. Member State: any State which belongs to the European economic area;"

3. According to section 7, paragraph 2, the following paragraph 2a is inserted:

"(2a) each pension fund has in addition to the resources mentioned in paragraph 1 for the fulfilment of commitments in accordance with Article 12a para 1 No. 2 to 4% of the total of premium reserve allocated to the beneficiaries of the safety VRG in the balance of the Pension Fund at the last balance sheet to hold own funds amounting to at least 3."

4. § eliminates 9 Z 12.

5. in article 12, paragraph 1, of the parenthetical expression (investment and risk community) is replaced by the parenthetical expression (investment and risk community - VRG).

6 be added following paragraph 6 and 7 in section 12:

"(6) in no more than three VRG five sub collective investment undertakings (sub-VG) can be set up for different investment strategies. The limits of § 23 para 1 are Z 3a and the section 25 to apply separately to each sub-VG.

(7) if the Pension Fund offers several VRG or sub-VG with the exception of security VRG with different investment strategies and in the Pension Fund contract (§ 15 para 3 Z 7a) according to the collective agreement, agreed operating agreement or the agreement in accordance with contract pattern, the following applies to commitments without unlimited obligation to make additional contributions of the employer:



1 for inclusion in the pension company commitment, the beneficiaries or the beneficiaries of the Pension Fund contract set VRG or sub-VG is managed.

2. up to the time of the delivery of pension fund performance the beneficiaries can explain at most three times and each in writing the change in an other VRG or sub-VG b compared with the Pension Fund according to proven information according to § 19. This declaration must go to 31 October of the calendar year when the Pension Fund, for the change to take effect to January 1 of the following calendar year; by way of derogation from the Declaration can be delivered at the latest with retrieval of the pension fund performance, the change will be effective with the first pension benefits. The Declaration can be made also with call of a survivor's pension after the death of beneficiaries (entitled), the change will be effective with the first pension benefits.

3. by way of derogation from No. 2 is effective for a beneficiaries (entitled) of the change in an other VRG or sub-VG to set deadlines, unless this has been agreed in the pension company contract according to the collective agreement, the agreement or the agreement in accordance with contract pattern. The beneficiaries can change this change by means of a declaration in accordance with no. 2. The number of switching possibilities and the deadlines of the Z 2 are to be applied.

The transfer amount is calculated from the premium reserve qualified for the beneficiaries or assigns to the transfer date and volatility reserve. For beneficiaries a change is not allowed."

7. According to article 12, 12a the following paragraph with heading shall be inserted:

"Investment and risk sharing with warranty

section 12a. (1) the Pension Fund has if not paragraph 6 is applied, by way of derogation of article 12 para 2 and 4 lead a VRG investment security and pension stability-oriented (security VRG), which must meet the following conditions:



1. it may neither a pension company commitments) with minimum yield guarantee b) manages unlimited obligation to make additional contributions of the employer.

2. the Pension Fund has to guarantee that the monthly pension due the beneficiaries at any time is lower than that first month pension resulting from the retirement of the coverage provision for the beneficiaries at the time of the first delivery of the pension fund performance.

3. the value of the guaranteed first month pension in accordance with no. 2 is up to interest, which for the preceding financial year from the half of the average monthly secondary market yield of government bonds or the preceding 60 months minus 0.75 percentage points index arising in its place is calculated every five years to the next balance sheet date with the interest rate. This rate cannot be negative.

4. If the remaining result of a VRG leads to the balance sheet date for a removal of the premium reserve and the recalculated pension is less than the monthly pension is guaranteed in accordance with Nos. 2 and 3, the difference on which in accordance with Nos. 2 and 3 is the beneficiaries per month in the following year guaranteed monthly pension from the own resources of the Pension Fund to be credited.

5. the business plan has to contain the following changes and additions in addition to the indications referred to in article 20, paragraph 2: a) the principles and formulas for the calculation of the guaranteed first month pension for the age pension and survivor's pension;

(b) the procedure of the adoption of accounting principles;

(c) the equalization is to lead global for beneficiaries and beneficiaries.

6 by way of derogation from article 23, paragraph 1, Z 3a 40 vH pursuant to § 23 paragraph 1 may Z 3a lit. dedicated to c and no more than 80 vH of the assets associated with the safety VRG. The Pension Fund has to explain the existence of sufficient liquidity for the feasibility of pension benefits for the following years the FMA by connecting appropriate documentation until 30 November of each year.

7. the establishment of a negative volatility reserve pursuant to Article 24a, paragraph 8 is not allowed.

8. the limit of § 25 paragraph 3 No. 2 is to apply.

(2) can the beneficiaries at the time of the delivery of pension fund performance, anyway, but from the year in which he completed their 55th year, until at the latest at the time of the delivery of pension fund performance according to proven information according to § 19 b compared with the Pension Fund in writing explain the change in the security VRG. The Declaration must go to 31 October of the calendar year when the Pension Fund, for the change to take effect to January 1 of the following calendar year; by way of derogation from the Declaration can be delivered at the latest with retrieval of the pension fund performance, the change will be effective with the first pension benefits. The Declaration can be made also with call of a survivor's pension after the death of beneficiaries (entitled), the change will be effective with the first pension benefits.

(3) until the retrieval of the pension fund performance the beneficiaries (entitled) of a security VRG can explain in writing in the VRG changing b compared with the Pension Fund according to proven information according to § 19 in the pension company commitment before the change in the security VRG was administered. For beneficiaries, a change is not permitted.

(4) the provision made for the beneficiaries to the transfer date and equalization is in the security VRG as follows:



1 the transfer date on a balance sheet date falls is the pro rata amount to feed, which involved the percentage amount of the fluctuation provision in the safety VRG on the associated average assets of Equalization of security VRG (section 20 para 2 Z 5) corresponds to the balance sheet date.

2. the transfer date not on a balance sheet date falls is the pro rata amount to feed, which involved the percentage amount of the fluctuation provision in the safety VRG on the associated average assets of Equalization of security VRG (section 20 para 2 Z 5) corresponds to the last balance sheet date.

3. exceeds the volatility reserve allocated to the beneficiaries (entitled) the allocation amount according to Z 1 or 2, the amount of excess of the premium reserve of the beneficiaries (entitled) is so disposed.

4. the volatility reserve allocated to the beneficiaries (entitled) is less than the funding amount according to Z 1 or 2, the loss of the premium reserve of the beneficiaries (entitled) is so.

(5) by way of derogation from article 17, paragraph 1 the beneficiaries of security VRG in the Pension Fund shall remain with termination of the Pension Fund contract. Section 15 is paragraph 3a shall apply that are allowed by paragraph 1 Z 5-related changes to the Pension Fund contract.


(6) If a pension fund has established no safety VRG, it has concluded a cooperation agreement so that for those beneficiaries of the Pension Fund, making use of the option referred to in paragraph 2, the transfer amount referred to in paragraph 4 in a safety VRG multi-employer pension fund can be transferred with a multi-employer pension fund. The multi-employer pension fund has the beneficiaries in accordance with § to inform 19B. "In the operating agreement or in the collective agreement on the establishment of a single-employer Pensionskasse can be arranged, that will set up a safety VRG nor concluded a cooperation agreement with a multi-employer pension fund."

8. after article 15 par. 3, Z 7 following Z 7a is inserted:



"7a. the possible agreement of election rights in accordance with § 12 section 7 Nos. 2 and 3, as well as the determination of VRG or sub-VG, Z 1; included in the new beneficiaries or beneficiaries in accordance with § 12 section 7"

9. after article 15 par. 3, Z 15 following Z 15a is inserted:



"15a. She approach procedure in the event of termination of the employer from the company of a pension fund agreement with a single-employer Pensionskasse;"

10 § 15 para 3a first sentence reads:

"Remains a worker pursuant to § 5 para 2 Z 1 or 5 BPG or according to § 6 ABS. 3 1 or 3 BPG or an Anwartschaftsberechtigter in accordance with article 17, paragraph 1, or a performance authorized pursuant to section 12a paragraph 5 or § 17 para 1 in the Pension Fund, the Pension Fund contract continues to apply is Z."

11 the following paragraph 4 is added to § the 16:

"(4) into a pension fund, also amounts from a different pension fund, an institution can (§ 5 No. 4), an occupational pension group insurance (§ 18f insurance supervision Act - VAG), an institution of additional pension insurance according to section 479 of the General Social Insurance Act (ASVG), Federal Law Gazette No. 189/1955, a retirement facility designed for the fully funded system after section 173, para 2, of economic trust vocational Act, Federal Law Gazette I no. 58/1999, after § 50 para 3 of the legal order, RGBl. No. 96/1868" "that pursuant to § 41 para 4 of the salary Fund Act 2002, BGBl. I no. 154/2001, or foreign pension institution are transmitted when the employee at the time of the transfer of beneficiaries or performance justified."

12. According to article 16a, paragraph 4 inserted following paragraph 4a and 4B:

"(4a) the Pension Fund is entitled to withhold payment of the investment result for the investment of the assets of security VRG, per fiscal year 0.55 per cent of assets associated with the safety VRG (section 20 para 2 Z 5) must not exceed." The percentage must be the same for all beneficiaries of the security VRG.

(4B) if not sufficient for beneficiaries with a commitment without unlimited margin obligation of an employer or a commitment without minimum yield guarantee the investment income of the fiscal year for the remuneration referred to in paragraph 4, the following applies:



1. the Pension Fund may remove the assets associated with these beneficiaries % based on the aggregate policy reserves associated with these beneficiaries only the allowance of 50.

2. for the remaining part of the remuneration, a liability to the Pension Fund is in the VRG to expel.

3. a supplement to the pension in the amount of the remaining part of the payment in 14 instalments is these beneficiaries in the next fiscal year to pay; an other asset must be off for this grant in the VRG.

4. the distributable profit of the fiscal year may not be increased to the exposure amount reported in the balance sheet of pension fund for the remaining part of the remuneration.

5. the removal of part of the remuneration remaining in the VRG is only allowed in subsequent years if the remaining investment income for a withdrawal after assignment of the invoice interest on the provision of the beneficiaries.

6. the other surplus can until ten years after its formation by removal of the part of the remuneration remaining in the VRG are unresolved, this must be loads the corresponding liability to the Pension Fund in the VRG to resolve.

7 in the VRG an other asset according to Z 3 shown, is a qualifying person when the pension fund performance of the corresponding proportion of the remaining part of the remuneration from funds of the Pension Fund of its premium reserve to write well."

13. in article 16a, paragraph 6 the reference "para 2 to 4" with the reference "Paragraph 2 to 4a" is replaced.

14 paragraph 17 section 1:

"(1) a pension fund termination by the employer or by the pension scheme or a consensual termination of the Pension Fund contract is only admissible and legally, if a transfer of the assets to be transferred in accordance with paragraph 4 on another pension fund, a facility (§ 5 No. 4), an occupational pension group insurance (§ 18f VAG) an insurance company authorized to operate of in the domestic life insurance or a facility of additional pension insurance according to § 479 ASVG is." The termination or consensual termination of the Pension Fund contract can be together validly only for all of this pension fund contract of covered beneficiaries and beneficiaries, if is set not in the collective agreement, operating agreement or agreement according to the draft contract, all beneficiaries or all contributions provided beneficiaries and beneficiaries when the Pension Fund will remain at termination of the Pension Fund contract."

15. in article 17, paragraph 3 the phrase "and a transfer is ensured" is inserted after the phrase "Where transfer arises".

16 paragraph 17 section 4:

"(4) the value of the assets to be transferred in the event of termination is set in the pension company contract and allowed 100 vH business scheduled to premium reserve plus 100 vH of the Equalization of the affected beneficiaries and beneficiaries not be less than the."

17 § 19 para 2 last sentence reads:

"The pension funds and the employer have the beneficiaries and beneficiaries at their request be issued a copy of the parts of the Pension Fund contract in paper form concerning the particular commitment without delay."

18. According to § 19 para 5 shall be inserted following paragraph 5a to 5 c:

"(5a) which has Pension Fund beneficiaries, and beneficiaries on their request for those VRG, sub-VG or safety VRG, which maintains the pension company commitment, within a reasonable period of time in paper form for no more than the last three financial years"



1. a calculated key figure for the total expense ratio in the form that all costs, which are blamed on the assets associated with the VRG, the pension fund or third parties related to the assets allocated to the VRG as a percentage are, and



2.



a representative performance comparison





to specify.



(5B) that pension fund must inform the beneficiaries when a change in the pension benefit request within a reasonable period of time in paper form in a schematic representation of the individual causes and sources of earnings.

(5C) Pension Fund has to provide a collective agreement enabled representation of interests of employees to request those performance-sensitive parts of the business plan, which are necessary in individual cases and at the request of beneficiaries or beneficiaries for checking the information referred to in paragraph 3 to 5 and 5b. "

19 paragraph 19 paragraph 7:

"Also a secure electronic access to this information in the Pension Fund may be permissible after explicit consent of the beneficiaries or beneficiaries instead of the written information referred to in paragraph 2 to 5 b (7) in accordance with the existing technical possibilities. "Information according to para 2, 5a, and 5b can with the consent of the beneficiaries or beneficiaries also on another durable data carrier pursuant to section 16 para 1 of the securities supervision Act 2007 (WAG 2007), Federal Law Gazette I no. 60 / 2007, are made available."

20 the following section is inserted 19 b after § 19a:

"article 19 b. (1) the Pension Fund has a beneficiaries, survivors or insured persons (§ 18f VAG) on request before making a decision in accordance with § 12 section 7 or section 12a paragraph 2 of this Act or § 5 par. 5, article 5a, paragraph 1, § 6 c paragraph 5 or article 6e, paragraph 1 BPG on a permanent data carrier pursuant to section 16 para 1 WAG 2007 to inform." The Pension Fund has to keep the beneficiaries (entitled) records of the information and decision and to keep them at least seven years. The records are to be kept on a disk, so that this the FMA in the future can be made immediately available.

(2) the information referred to in paragraph 1 has depending on the nature of the proposed decision



1. for the beneficiaries (entitled) the height of the Unverfallbarkeitsbetrages pursuant to § 5 para 1 BPG.

2.

the relevant parameters laid down in the business plan of VRG, sub-VG or safety VRG, which is associated with the beneficiaries (entitled);

3. the relevant parameters laid down in the business plan of VRG, sub-VG or safety VRG, in which the beneficiaries (entitled) or insured is to be included or wants to change;

4. with regard to a transfer in a safety VRG (section 12a paragraph 2) a) the estimated amount of the guaranteed first month pension, b) the modalities of the valorisation of the guaranteed first month pension, c) the investment strategy and income opportunities and risks, d) the amount of the remuneration for the investment of the assets of security VRG pursuant to section 16a para 4a and e) a particularly highlighted note on the fate of the beneficiaries in the security VRG for termination of the Pension Fund contract;

5. with regard to the choice of a VRG or sub-VG (§ 12 section 7) the investment strategy as well as the profit opportunities and risks;

6. prior to a decision pursuant to article 6c paragraph 5 or article 6e, paragraph 1 BPG is a representation of the differences between the occupational pension group insurance and a pension company commitment.

7. on the basis of the previously acquired entitlement or of the Unverfallbarkeitsbetrages according to § 6 c para 1 BPG under assumption of staying right the last contributions or premium services of the employer and employee are forecasts of each future development of further benefits and the pension benefits, where to put at least three different assumptions about the earnings underlying the calculations next to the business planned assumed interest rate to contain.

(3) the FMA has to set the content and the structure of information according to para 1 and 2, as well as requirements to the calculations pursuant to par. 2 No. 7 by regulation. She has to take into account the interest in a functioning Pensionskasse system as well as the interests of the beneficiaries (entitled) of comparable, adequate and clear information."

21 paragraph 20 paragraph 2a:

"(2a) the assumed interest rate and the technical surplus are to choose with caution. There are



1. the returns of attachments that are comparable held systems, taking into account the future investment income from the pension funds for the assets of the investment and risk groups, or 2. public market yields or to use other high-quality bonds or a mixed set of both each minus reasonable haircuts. The FMA has one or more maximum percentages for statement interest and technical surplus for to be concluded pension company contracts and for new beneficiaries in existing pension company contracts to set by regulation. For the safety VRG, a maximum permissible percentage rate and technical surplus is set, which may be in any case, not higher than the maximum percentage fixed pursuant to the preceding sentence to invoice interest and technical surplus for an investment and risk sharing group without guarantee. The FMA has to verify the adequacy of the interest rates at least once every three years."

22 the section 20a para 1 the following sentence is added:

"Multi-employer Pensionskassen also a Deputy actuary is appointed; Paragraph 2 to 5 are to apply by analogy."

23 § 23 para 1 No. 3a is:



"3 a derogation from Z 3 are directly or through special funds in accordance with section 163 of the investment fund law 2011 (InvFG 2011)(, BGBl. I Nr. 77/2011, oder vergleichbare ausländische Spezialfonds, bei denen die Pensionskasse einziger Anteilinhaber ist, veranlagte a) debt securities of the Federal, a federal country, of another Member State, a Member State of another Member State, one other full Member State of the Organisation for economic cooperation and development (OECD) or an international organization of public character" , which belong to one or more Member States, and securities, for reimbursement and interest on the Federal Government, a State, another Member State, a Member State of from another Member State, one other full Member State of the OECD or an international organization of public character, one or more Member States belong, is liable, and would be to provide the investment according to § 22a of the Banking Act with a risk weight of not more than 20%, b) debt securities issued by credit institutions , according to § 22a of the Banking Act with a risk weight of not more than 20% to provide were, and securities, a credit institution, which according to § 22a of the Banking Act with a risk weight of not more than 20% to provide would be liable for reimbursement and interest, c) investment grade corporate bonds, with a fixed maturity, when determining on the basis of a separate dedication to do this are held up to maturity to be , with their amortized cost or their continuing day value at the time of the dedication, using the effective interest method to evaluate if this was explained in the business plan to be admissible. The securities directly or indirectly via special funds devoted is the capacity on the basis of a prudent liquidity plan than to demonstrate continuous investment; but not more than 25 vH in accordance with letter allowed it. dedicated to c and no more than 60 vH of the assets associated with an investment and risk sharing group. The FMA is to prove that the Fund regulations of special funds contain rules on the special dedication of certain notes and on the current card of a further calculation value, taking into account the special assessment upon request. The FMA must be has a securities dedicated by the Pension Fund as a permanent investment prior to final maturity only in special circumstances and with the approval. A security that is dedicated as a permanent attachment loses the status investment grade, its dedication as a permanent system is to pick up and to evaluate in accordance with no. 3; This requires no approval of the FMA. A sale of bonds separately designated special funds is allowed only in special circumstances and with the approval of the FMA. The FMA has to require the presentation of silent loads resulting from the HTM review and hidden reserves in the regulation in accordance with § 36 para 2;"

24 paragraph 24 paragraph 2:

"(2) the Equalization can be basically either separately for individual beneficiaries and beneficiaries (individual) or together for groups of beneficiaries or beneficiaries (global). Following combinations are permitted:



1 for a total investment and risk group a) individually for all beneficiaries, b) individually for all beneficiaries (entitled) and globally for all beneficiaries, c) globally for all beneficiaries (entitled) and globally for all beneficiaries or d) globally for all beneficiaries and beneficiaries; This is only allowed if it is an investment and risk sharing group with unlimited obligation to make additional contributions of the employer for all beneficiaries.

2. by way of derogation from Z 1 lit. a, b, and c can the volatility reserve within a VRG for a group of beneficiaries (entitled) or global led a group of beneficiaries following criteria, can be used with for the formation of the group individually or in combination: a) Sub-VG, b) probability tables, c) assumed interest rate, d) invoice moderate surplus, e) an employer or group of employers.

3. by way of derogation from Z 1 lit. d the volatility reserve within a VRG at unlimited obligation to make additional contributions of employers globally for all beneficiaries and beneficiaries of that employer or globally for all beneficiaries (entitled) of this employer, and globally for all beneficiaries that employer can be performed and also a group of employers to appear in the position of the employer.

Provided jointly managed pension fund commitments with minimum yield guarantee and pension company commitments without minimum yield guarantee in an investment and risk sharing, 1 lit is leadership of the Equalization according to Z. a to c without prejudice to the No. 2 the volatility reserve at least separated after pension company commitments with minimum yield guarantee and pension company commitments without minimum yield guarantee."

25 § 24a para 3 is as follows:

"(3) the FMA has to set conditions for the affected group of persons, as well as criteria for the scale of the assignment for an additional allocation to the volatility reserve by the Management Board of the Pension Fund by regulation. While she has



"1. a uniform pension adjustment for beneficiaries, 2. a uniform allocation of income for beneficiaries, 3. the height of the assumed interest rate and Bill moderate surplus, 4. the specifics of the security VRG, 5. the extent of the volatility reserve and 6 the capital market situation carefully to take."

26. in article 25, paragraph 1 No. 5 lit. b and paragraph 5 is replaced by the word "Country" the word "EEA State".

27. in article 25, paragraph 2, the phrase "and cash" accounts for Z 1.


28 § 25 para 7 first half sentence reads:

"Investments in assets of the same issuer, with the exception of investments in debt securities and loans, which are issued or guaranteed by the Federal Government, a State, another Member State, a Member State of from another Member State or an international organization of public character of one or more Member States belong to"

29. in article 25, paragraph 8, the following sentence is inserted after the first sentence:

"By way of derogation from article 14, paragraph 1 are InvFG 2011 and § 4 para article 80, paragraph 1 3 ImmoInvFG applicable."

30. in article 25, paragraph 9, sentence is prefixed to the first sentence:

"The Pension Fund has for capturing, assessing, establishing a risk management control and monitoring of the risks arising from the investment, which is appropriate to the nature, the scope and the complexity of the investment."

31 paragraph 25 paragraph 10:

"(10) the FMA may in individual cases by decision for the investment of the assets associated with an investment and risk sharing group



1. in terms of diversification and risk reduction for a) assessments pursuant to paragraph 1 Nos. 6 and para. 2 No. 6 each with a limit of up to 20 vH, b) investments pursuant to par. 2 No. 4 an upper limit to 40 per cent, c) investments referred to in paragraph 2 Z 5 set an upper limit to 30 vH of the assets associated with the investment and risk sharing group and 2nd conditions detailed in regard to diversification and risk reduction for investments referred to in paragraph 6 for the acquisition ", as far as this due to the specificity of the pension company commitments managed in the relevant investment and risk sharing and for the interests of the beneficiaries and beneficiaries is required."

32. paragraph 11 is omitted § 25.

33. after article 25a, paragraph 1, the following paragraph 1a is inserted:

"(1a) unless offered pension fund several VRG or sub-VG with different investment strategies (article 12, para. 6 and 7), so it has the different investment strategies according to qualitative and quantitative criteria to define and easily understood to represent the differences in an overview-like statement."

34. in section 25a, paragraph 3, the phrase "any change" is replaced by the phrase "any substantial change".

35. paragraph 26 paragraph 1:

(1) the custody of securities belonging to an investment and risk sharing group and shares of investment funds has one or more custodians to the Pension Fund. As the depositary bank can only a credit institution that are properly approved or appointed as depositary is recognized within the meaning of Directive 2009/65/EC, in accordance with Directive 2004/39/EC or 2006/48/EC to carry out this activity. The Pension Fund has the FMA together with the display of the assignment to present an explanation of the credit institution or of the depositary, in which the rights and obligations of para 2 note be taken and each set-off and right of retention is not."

36. According to article 26, paragraph 1, the following paragraph 1a is inserted:

"(1a) for each ERF, each sub-VG and the safety VRG is a private investment account each to lead." In the Depot name anyway, the Pension Fund and a designation of the VRG, sub-VG, or security VRG are to lead."

37. According to article 27, paragraph 1, the following paragraph 1a is inserted:

"(1a) exceeds that balance sheet date, which is before the election of the representatives of beneficiaries and beneficiaries in the General Assembly divided the number of beneficiaries with commitments without unlimited obligation to make additional contributions of the employer the quotient of the total number of beneficiaries and beneficiaries with commitments without employer's unlimited obligation on margin by which the articles of association set number of representatives of the beneficiaries and beneficiaries, so the representatives of beneficiaries is at least a mandate and subject to beneficiaries in the Supervisory Board of the multi-employer pension fund the beneficiary."

38. According to § 27 para 5 No. 2 shall be inserted following Z 2a and 2b:



"2a. the conditions of paragraph 1a at least one separate proposal for representatives of the beneficiaries can be; incorporated in the Supervisory Board pursuant to the provisions of no. 2

2. in the presence of election proposals in accordance with Z 2a have 2 b to coordinate the voters in a first ballot on the election proposals in accordance with no. 2 and a second ballot on the election proposals in accordance with Z;"

39. According to § 27 para 5, Z 3 following Z 3a is inserted:



"3a. the assignment in accordance with no. 3 does not apply to contributions provided beneficiaries and beneficiaries that remain according to section 12a paragraph 5 or § 17 para 1 in the event of termination of the Pension Fund pension fund contract;"

40. in article 29, paragraph 1, the phrase is "beneficiaries in accordance with § 5 No. 2 lit. a"by the phrase" beneficiaries in accordance with § 5 No. 2 "replaced.

41. paragraph 29 paragraph 2:

'Right to information article 118 para 1 are German Stock Corporation Act, in particular as regards their own investment and risk sharing, (2) each participant referred to in paragraph 1. Section 118 shall apply. para 2 to 4 AktG"

42. According to § 31 para 4 No. 3 is inserted following Z 3a:



"3a. the assessment whether investments in assets of exhibitors, which to a group according to § 15 AktG or according to § 115 GmbHG belong and such group is a company owner within the meaning of Article 6a, paragraph 1, the remuneration received for clearing are reasonable and customary;"

43. § 36 para 1 sub-para. 8 is:



"8. any formation of a separate ERF according to § 12 para 2, sub-VG according to § 12 section 7 or safety VRG according to section 12a and each closing a VRG, sub-VG or safety VRG;"

44. According to article 36, paragraph 1, Z 10 following Z 10a is inserted:



"10a. the person or the persons responsible for internal audit, as well as changes in their person;"

45. paragraph 36 para 2:

"(2) the pension funds separated 30 June, 30 September and 31 December of the FMA quarterly financial statements within four weeks after the deadlines of March 31, VRG, sub-VG and safety VRG, which



1. compliance with section 23 paragraph 1 Z 3a, section 25 and section 25a, as well as the actual presence of at least 90 per cent associated assets respectively to these dates shown and 2 indicates the number of beneficiaries and beneficiaries to these deadlines to submit electronically in a standardized format according to the outline provided for in the regulation referred to in paragraph 4 to an investment and risk sharing."

46. According to article 36, the following § 36a and heading shall be inserted:

"Form of communication with the FMA - electronic delivery

§ 36a. The FMA may prescribe by regulation, that the ads and submissions in accordance with Article 6a, paragraph 1 and 2, section 7, paragraph 7, article 12 par. 5, article 20a, paragraph 4, article 21, para. 3, article 21, para. 8, § 25 paragraph 9, section 25a paragraph 3, b paragraph 1 and 2 and § 36 para 1 and 2 exclusively in electronic form have to be taken article 30a, paragraph 1, article 31, par. 2, article 33 as well as outlines , have to meet minimum technical requirements and modalities. The FMA has to orient itself on the principles of efficiency and expediency, and to ensure that the full electronic availability of data for the FMA are maintained and supervisory interests are not compromised. The FMA has appropriate arrangements for it to meet, that the notifying parties or, where appropriate, their entities can make during a reasonable period of time in the system about the accuracy and completeness of the data received by them or their entities."

47. According to section 46a, paragraph 1 Z 14, 14a is inserted following Z:



"14a. the requirements for risk management in accordance with § 25 paragraph 9 not met;"

48. in the final part of article 46a, paragraph 1, the phrase "Z 14 and 15" is replaced by the phrase "Z 14-15".

49. Article 49 is paragraph labeled (1) and the following paragraph 2 is added:

' (2) after the entry into force of the Federal Act Federal Law Gazette I no. 54/2012 the following transitional provisions shall apply: '



1 to § 12 section 7 and section 12a paragraph 2: all beneficiaries on the date 31 December 2012 with a pension company commitment without unlimited obligation to make additional contributions of the employer can by way of derogation from § 12 section 7 and section 12a paragraph 2 according to proven information according to § 19 b compared to the Pension Fund by 31 October 2013 in writing a change) in an investment and risk sharing or sub-VG with a in accordance with article 20 para 2a maximum assumed interest rate , b) in a security VRG or c) explain in an occupational pension group insurance. The change will take effect as of 1 January 2014. The transfer amount is calculated from the aggregate policy reserves for the person entitled to the transfer date and equalization. A transfer in accordance with letter. (b) Article 12a para 4 is to apply; Article 12a para 1 No. 2 is to apply subject to the proviso that the warranty on the month pension granted for January 2014 is to relate. A transfer in accordance with letter. c is an information according to § 18 k VAG to prove.

2. Article 12a para 4:


Constructing the safety VRG, the percentage degree of equalization to be formed is 5 vH of the assets associated with the beneficiaries and beneficiaries (article 20 para 2 Z 5), which is transmitted at this time in the security VRG.

3. to § 15 ABS. 3 Z 7a and 15a: at the time of the entry into force of the Federal Act Federal Law Gazette I are no. 54 / 2012 pension fund contracts until 31 December 2015 to the prescribed content to supplement.

4. section 24a: beneficiaries with a pension company commitment without unlimited additional contributions of the employer, its equalization is performed individually, can writing until 31 October 2014 and irrevocable explain that from the fiscal year in which the return is filed, a doping or resolution of equalization pursuant to Article 24a para 2, 3 and 4 is omitted, if the ongoing monthly pension at the time of the waiver is less than the first month pension , which arose at the time of the first delivery of the pension fund performance from the retirement of the coverage provision for the beneficiaries. The Pension Fund has to inform the beneficiaries at their request about the possibility of the waiver and the related effects has been shown in paper form.

"5 to § 26 para 1: for custodian banks appointed to January 1, 2013 is the explanation of the credit institution or the depositary, any set-off and right of retention is waived where, until no later than 31 December 2013, the FMA to present."

50 36 the following paragraph is added to the article 51:

"(36) section 3 para 3, § 5 Z 4a, § 7 para 2a, article 12, para. 1, 6 and 7, section 12a, together with heading, § 15 para 3 Z 7a and 15a and paragraph 3a, § 16 para 4, § 16a paragraph 4a, 4B and 6, section 17, paragraph 1, 3 and 4, section 19 para 2, 5a to 5c and 7, § 19b, § 20 para 2a, section 20a para 1, § 23 para 1 Z 3a" , § 24 para 2, § 24a, para 3, § 25 para 1 No. 5 lit. b, para. 2 Z 1, para of 5, 7 to 10, § 25a par. 1a and 3, § 26 para 1 and 1a, section 27 par. 1a and 5 Z 2a, 2B and 3a, article 29, paragraph 1 and 2, section 31 (4) Z 3a, § 36 para 1 sub-para. 8 and 10a and para 2, § 36a along with headline, article 46a, paragraph 1, and article 49, paragraph 1 and 2 in the version of Federal Law Gazette I no. 54/2012 apply with 1 January 2013. "Section 9 Z 12, § 25 paragraph 11, as well as the regulation of the financial market authority of 22 September 2006 on the specific investment rules for pension funds, Federal Law Gazette II No. 361, occur at the end of 31 December 2012 override."

Article 2

Amendment of the insurance supervision Act

The insurance supervision Act, Federal Law Gazette No. 569/1978, as last amended by Federal Law Gazette I no. 35/2012, is amended as follows:

1. paragraph 18 g paragraph 3 last sentence:

"The insurance companies and employers have the insured person at their request be issued a copy of the parts of the insurance contract in paper form relating to him without delay."

2. paragraph 18 g of paragraph 8:

"Also, a secure electronic access to this information with the insurance company may be permissible after explicit consent of the insured person instead of the written information referred to in paragraph 3 to 6 (8) in accordance with the existing technical possibilities. "Information in accordance with paragraph 3 may after the explicit consent of the insured also on another durable medium in accordance with § 16 para 1 WAG 2007 available be provided."

3. According to article 18, the following paragraph 9 is added to g 8:

"(9) the insurance company has to provide a collective agreement enabled representation of interests of employees to request those performance-sensitive parts of the actuarial bases, which are necessary in individual cases and at the request of an insured person or beneficiary for the verification of the information referred to in paragraph 4 to 6."

4. paragraph 18 h para 1:

"(1) a termination of the insurance contract by the employer or by the insurer or a consensual termination of the insurance contract is only admissible and legally, if a transmission 3 to transfer assets to an occupational pension group insurance of another to conduct business in the domestic insurance company, a pension fund, authorized in accordance with paragraph an in the sense of § 5 Z 4 PKG or a facility of additional pension insurance according to § 479 ASVG is." The termination or consensual termination can be together validly only for all insured persons if it is set not in the operating agreement, the collective agreement or the agreements according to the contract pattern that upon termination of the insurance contract, all pension recipients or all contributions the insured and pension recipients in the occupational pension group insurance will remain."

5. According to § 18j, the following § 18 k shall be inserted:

"section 18 k. (1) the insurer has an insured or beneficiaries (entitled) (§ 5 Z 1 PKG) on request before making a decision in accordance with article 5 par. 5, article 5a paragraph 1, § 6 c paragraph 5 or article 6e, paragraph 1 BPG on a permanent data carrier pursuant to section 16 para 1 WAG 2007 to inform. The insurance company has records to lead and to keep them at least seven years on the information and decision of the insured person. The records are to be kept on a disk, so that this the FMA in the future can be made immediately available.

(2) the information referred to in paragraph 1 has



1. for the insured the height of the Unverfallbarkeitsbetrages pursuant to § 6c para 1 BPG, 2. the relevant parameters of the actuarial bases used in creation of the tariff and the calculation of the technical provisions, 3. prior to a decision pursuant to § 5 section 5 or section 5a paragraph 1 BPG a representation of the differences between the occupational pension group insurance and a pension company commitment and 4th on base of the premium reserve or of the Unverfallbarkeitsbetrages pursuant to § 5 para 1 BPG under assumption of staying right the last paid premium services or contributions of the Employer and employee, to contain forecasts of each future development of insurance benefits and pensions, with at least three different assumptions about the earnings underlying to the calculations in addition to the guarantee rate.

(3) the FMA has to set the content and the structure of the information referred to in paragraph 1, as well as requirements to the calculations referred to in paragraph 2 No. 4 by regulation. She has the interests of insured persons and beneficiaries (entitled) to a sufficient, comparable and clearly understandable information to take into account."

6. after article 119i para 31 32 the following paragraph is added:

"(32) § 18 g paragraph 3 last sentence, § 18 (g) paragraph 8 and 9, § 18h para 1, § 18 k and section 129h paragraph 6 as amended by Federal Law Gazette I no. 54/2012 with 1 January 2013 into force."

7 h paragraph 5 is added to the following paragraph 6 in article 129:

"(6) § 18 k is lit on a decision pursuant to § 49 para 2 subpara 1. (c) to apply PKG. By way of derogation from section 18f para 1 No. 1 the insurance contract between the previous beneficiaries in accordance with § 5 completes Z 2 PKG and the insurance companies. The sections 18f.-18j mutatis mutandis apply Z on the previous beneficiaries in accordance with § 5 2 PKG"

Article 3

Amendment of operating pension Act

The operating pension Act, Federal Law Gazette No. 282/1990, as last amended by Federal Law Gazette I no. 58/2010, is amended as follows:

1. in article 1, paragraph 5, the phrase "of the General Social Security Act" is replaced by the phrase "of the General Social Insurance Act (ASVG)".

2. in article 2 Z 1 is the bracket expression "(§ 18f Versicherungsaufsichtsgesetz, BGBl. Nr. 569/1978)" by the parenthetical expression "(§ 18f des Versicherungsaufsichtsgesetzes – VAG, BGBl. Nr. 569/1978)" replaced.

3. in article 3, paragraph 1, first sentence, is the phrase "in accordance with article 9 Z 8 and § 15 para 4 of the Pension Fund Act, Federal Law Gazette No. 281/1990" by the phrase "in accordance with § 15 para 4 PKG" replaced.

4. § 3 para 1 No. 2 is:



"2. the right of performance, these include in particular the claims of beneficiaries and beneficiaries;" the height of the of the / to be paid by the employer contributions, which to set amount or in fixed relation to ongoing charges or fee components are in the case of contribution agreements with the Pension Fund. In addition variable contributions can in contribution agreements up to the amount of of the / contributions required to be paid by the employer or, if / the employer committed to the performance of a contribution for workers by at least 2 vH of current pay variable contributions fixed relative to one or more operational measures in the sense of paragraph 1 Z 2a up to the amount of himself from section 4 para 4 No. 2 lit. a EStG 1988 resulting amount provided; the possible obligation of / the employer / in post adjustment in occurrence of additional coverage requirements; "any agreement by electoral rights in accordance with § 12 section 7 PKG;"

5. According to article 3, paragraph 1, item 2 is inserted following Z 2a:



"2a.

the operational code included of variables contributing to reason: An operational code is a comprehensible and accessible, determined according to objective criteria business management, tax, or corporate ratio which takes into account the respective sector of operation, the concrete object, the size and the scope of the operation the overall operating risk of this operation; the agreement of several key figures per operation or the agreement of a key figure, which proportionally composed of several key figures, is allowed;"

6 paragraph 3 para 4 penultimate and last sentence:

"For the duration of maternity leave within the meaning of the maternity protection Act 1979 (MSchG), BGBl. No. 221, or of the fathers parental leave Act (VKG), Federal Law Gazette No. 651/1989, an educational leave according to § 11 of the labor contract law adjustment Act (AVRAG), Federal Law Gazette No. 459/1993, as well as a waiver against elimination of the fee for the § § 12, 14a or 14B AVRAG / workers can continue to pay his or her contributions at the previous level or the contributions of / the employer / in take over." "Are due to a reduction in the normal working hours in accordance with sections 13, 14, 14a or 14 b AVRAG or part-time work in the sense of the MSchG or VKG contributions of / the employer / in reduced / workers can continue to pay his or her contributions at the previous level or for the duration of the working time reduction attributable contributions of / the employer / in take over."

7. in article 5, paragraph 1, second sentence is replaced the word "five" by the word "three".

8 paragraph 5 paragraph 1a No. 2:



"2. for global leadership of the Equalization provision (§ § 24 and 24a PKG) as a) 100% of aggregate policy reserves associated with the / the beneficiaries (entitled) or b) the maximum from the premium reserve minus the administrative costs for the performance of the Unverfallbarkeitsbetrages and 95 vH of associated which / the beneficiaries (entitled) premium reserve plus 95% of the stake in the volatility reserve."

9 § 5 paragraph 2 No. 2 is:



"2. the transfer of the Unverfallbarkeitsbetrages in accordance with paragraph 1a into the pension fund or to a facility within the meaning of § 5 Z 4 PKG or in an occupational pension group insurance or in a group pension insurance of a new employer / in or in a pension without repurchase right, into a facility of additional pension insurance pursuant to § 479 ASVG or designed in a funded pension institution pursuant to section 173 para 2 of the management trust profession Act (WTBG)" ", Federal Law Gazette I no. 58/1999, after § 50 paragraph 3 of law order (RAO), RGBl. No. 96 / 1868, or according to § 41 para 4 of the salary Fund Act 2002, Federal Law Gazette I no. 154/2001, require the workers transfer beneficiaries or performance justified;"

10 according to § 5 para 2 subpara 2 is inserted following Z 2a:



"2a. the transfer of the Unverfallbarkeitsbetrages in accordance with paragraph 1a in a pension fund or an establishment within the meaning of § 5 Z 4 PKG or in an occupational pension group insurance, in which for the worker who is already a pension entitlement or a prämienfreie insurance is assessed, ask if the new employer does not intend for the promise of a pension fund or an occupational pension group insurance to complete employee;"

11 paragraph 5 paragraph 3:

"(3) / the workers within six months gives their Unverfallbarkeitsbetrages no explanation about how to use according to paragraph 1a, is in an asked no entitlement (para. 2 No. 1) to convert." Requires the / the worker at a later date the transfer of this entitlement to the pension fund or to a facility within the meaning of § 5 Z 4 PKG or in an occupational pension group insurance or in a group pension insurance of a new employer / in or in a pension without repurchase right, into a facility of additional pension insurance pursuant to § 479 ASVG or designed in a funded pension institution pursuant to article 173, paragraph 2 WTBG , pursuant to § 50 para 3 RAO, according to § 41 para 4 of the salary Fund Act 2002 or in a foreign pension institution (para. 2 Z 4), the entitlement is again in a Unverfallbarkeitsbetrag to convert. This is calculated in a contribution agreement, taking into account the proportionate investment income and pro-rata actuarial gains or losses until the time of transfer after same calculation rules, which were to be based in the calculation of the Unverfallbarkeitsbetrages in termination of employment."

12 the following records are added § 5 ABS. 4:

"A severance failing after the first set, workers can be agreed until the expiration of twelve months after the end of the employment relationship between the Pension Fund and the, that according to § 5 para 3 first sentence to convert no asked expectant again in a Unverfallbarkeitsbetrag and see all is. Last sentence applies for the calculation of the Unverfallbarkeitsbetrages section 5 paragraph 3."

13 paragraph 5 paragraph 5:

"(5) / employee can b PKG and article 18 k VAG in the event of the performance claim that require transmission of Unverfallbarkeitsbetrages in accordance with paragraph 1a of the Pension Fund in an occupational pension group insurance if the occupational collective insurance in accordance with § 6a has already completed an employer according to proven information according to § 19."

14 according to § 5, 5a the following paragraph with heading shall be inserted:

"Change in the occupational pension group insurance in the upright employment

§ 5a. (1) the / the worker can, unless this is provided for in the collective agreement, the operating agreement or the contract pattern and the occupational collective insurance in accordance with § 6a has already completed employer, according to proven information according to § 19 b PKG and article 18 k VAG from the year in which he or she reached age the 55th, compared to the Pension Fund and the employer explain in writing , that of the / by the employer for the period of 1 January of the following calendar year at point of contributing to the Pension Fund in the future has the payment of premiums at the same level in the occupational pension group insurance to be carried out. The Pensionskasse has to January 1 of the Declaration of / the worker / assign the proper at this time fictional Unverfallbarkeitsbetrag in the occupational pension group insurance in the following calendar year. The fictional Unverfallbarkeitsbetrag is calculated by the same calculation rules, to which the calculation of the Unverfallbarkeitsbetrages at the end of the employment relationship based.

(2) the statement of / the worker / in para 1 first sentence must to 31 October of the calendar year when the / when the employer and the pension fund enter, for the payment of premiums in the occupational pension group insurance and the transfer of the Unverfallbarkeitsbetrages to take effect to January 1 of the following calendar year.

(3) has the own contribution workers, he/she has premiums at the same level in the occupational pension group insurance to provide in the case of a disposition pursuant to par. 1 from January 1st of the following calendar year.

(4) the / worker may demand only once each time a change in the occupational pension group insurance according to para 1 as a change in the pension fund section 6e, paragraph 1. With entry of the Leistungsfalls is in any case irrevocable. the change in the occupational pension group insurance"

15 § 6a para 1 No. 2 is:



"2. the right of performance, these include in particular the claims of the insured;" the height of the of the / of the employer to payable bonuses that set amount or in fixed relation to ongoing charges or fee components are in case of contribution agreements with the insurer. In addition variable bonuses can contribution agreements up to the amount of by the / from the employer obliged to premiums payable or, if / the employer committed to the performance of a premium for workers by at least 2 vH of current pay, variable premiums in fixed relation to one or more operational measures in the sense of paragraph 1 Z 2a up to the amount of is of § 4 para 4 No. 2 lit. a EStG 1988 resulting amount provided; "any commitment of / the employer / in to the premium adjustment for occurrence of additional coverage needs;"

16. According to section 6a para 1 No. 2, 2a is inserted following Z:



"2a. the operational code underlying the variable premium performance based: an operational measure is comprehensible and accessible, determined according to objective criteria business, tax, or corporate, which takes into account the respective sector of operation, the concrete object, the size and the scope of the operation the overall operating risk of this operation;" the agreement of several key figures per operation or the agreement of a key figure, which proportionally composed of several key figures, is allowed;"

17 § 6a is paragraph 4 penultimate and last sentence:


"For the duration of maternity leave within the meaning of the MSchG or the VKG, an educational leave according to § 11 AVRAG, as well as a waiver against elimination of pay according to the § § 12, 14a or 14B AVRAG can / the worker his or her premiums at their previous level continue to pay or the premiums of / the employer / in take over." "Are due to a reduction in the normal working hours in accordance with sections 13, 14, 14a or 14 b AVRAG or part-time work in the sense of the MSchG or VKG premiums of / the employer / in reduced / workers can continue to pay his or her premiums at their previous level or for the duration of the working time reduction also share premiums of / the employer / in take over."

18 section 6c para 2 subpara 2 is:



"2. the transfer of the Unverfallbarkeitsbetrages referred to in paragraph 1 in the pension fund or to a facility within the meaning of § 5 Z 4 PKG or in an occupational pension group insurance or in a group pension insurance of a new employer / in or in a pension without repurchase right, into a facility of additional pension insurance pursuant to § 479 ASVG or designed in a funded pension institution pursuant to article 173, paragraph 2 WTBG" ", according to § 50 para 3 RAO or to section 41, paragraph 4 of the salary Fund Act 2002 require the employee transfer beneficiaries or performance justified;"

19 pursuant to § 6c para 2 subpara 2 following Z 2a inserted:



"2a. the transfer of the Unverfallbarkeitsbetrages referred to in paragraph 1 in an occupational pension group insurance or a pension fund or an establishment within the meaning of § 5 Z 4 PKG in the for the workers invested already a prämienfreie insurance or a pension entitlement will, require if the new employer does not intend for the an occupational pension group insurance or a pension company commitment to complete an employee;"

20 section 6c paragraph 3 is as follows:

"(3) / the workers within six months gives no explanation about how to use his or her claim, the insurance prämienfreie insurance is so (para. 2 No. 1) to convert." Requires the / the worker at a later date the transfer his or her claim to the pension fund or to a facility within the meaning of § 5 Z 4 PKG, in an occupational pension group insurance or in a group pension insurance of a new employer / in or in a pension without repurchase right, into a facility of additional pension insurance pursuant to § 479 ASVG or designed in a funded pension institution pursuant to article 173, paragraph 2 WTBG ", according to § 50 para 3 RAO or according to § 41 para 4 of the salary Fund Act 2002 or in a foreign pension institution (para. 2 Z 4), the provision is to be transferred."

21. in section 6 c paragraph 4 the quote "Para 1a" replaced by that quote 'Paragraph 1' and the following sentence is added:

"A severance failing after the first set, can be agreed until the expiration of twelve months after the end of the employment relationship between the insurer and the employee, that the pursuant to § 6 c para 3 first sentence is again a Unverfallbarkeitsbetrag pursuant to § 6 c para 1 to convert prämienfreie insurance and find out."

22. in section 6c paragraph 5 is the phrase "Workers can" "/ worker to proven information according to § 19 b PKG and article 18 k VAG" replaced by the word order and the phrase "referred to in paragraph 1" inserted after the word "Unverfallbarkeitsbetrages".

23. under section 6 d, 6e the following paragraph with heading shall be inserted:

"Change in the Pension Fund in the upright employment

section 6e. (1) the worker may, unless this is provided for in the collective agreement, the operating agreement or the contract pattern and the / the employer has already completed a pension fund contract pursuant to § 15 PKG, according to proven information according to § 18 k VAG and § 19 b PKG from year reached the 55th in the it age, explain in writing employer compared with the insurance companies and the , that of the / to be made the payment of contributions in the same amount to the Pension Fund by the employer for the period of 1 January of the following calendar year in place of the occupational pension group insurance premium performance. The insurance company has to January 1 of the Declaration of / the worker / in calendar year following the Unverfallbarkeitsbetrag in accordance with § 6 c para 1 in the Pension Fund to transfer.

(2) the statement of / the worker / in para 1 first sentence must to 31 October of the calendar year at the / when the employer and the insurance company go up for the payment of contributions into the Pension Fund and the transfer of the Unverfallbarkeitsbetrages to take effect to January 1 of the following calendar year.

(3) he or she has has the own premiums paid workers, in the case of a disposition pursuant to par. 1 from January 1st of the following calendar year to make contributions at the same level in the Pension Fund.

(4) the / worker may demand only once each time a change in the Pension Fund according to para 1 as a change in the occupational pension Group Insurance Section 5a paragraph 1. With entry of the Leistungsfalls is in any case irrevocable. the change in the Pension Fund"

24. under article 11, paragraph 1, the following paragraph 1a is inserted:

"(1a) on the collateral securities required pursuant to paragraph 1, claims arising from one can of the / from the employer closed and § 14 paragraph 7 EStG 1988 appropriate insurance to the extent resulting from this provision be applied."

25 paragraph 11 paragraph 4:

"(4) the securities in the sense of paragraph 1 are for the purpose of the coverage of pension provisions for direct performance pledges with a credit institution which is 2006/48/EC duly approved in accordance with the directive to carry out this activity, to be kept. The securities in the sense of paragraph 1 are anyway, separate from any other account which holds the employer with the same credit institution to lead."

26 paragraph 20 paragraph 3:

"(3) as far as personal names are still not gender-neutral formulated in this Federal Act, the selected form applies to both sexes."

27. According to article V paragraph 9 shall be added following paragraph 10 and 11:

"(10) former workers for the 31 December 2012, a contributions provided entitlements is led to the date, may request in writing the recent conversion of qualifying in a Unverfallbarkeitsbetrag and whose severance pay until 30 June 2013 if:"



1. the Unverfallbarkeitsbetrag transformed into an asked no entitlement in accordance with § 5 par. 1a at the time of the termination of employment has not exceeded the amount of § 1 para 2 and 2a PKG as amended to the date of termination of the employment relationship each arising from, 2. the Unverfallbarkeitsbetrag once more determined after conversion of this entitlement exceed not relevant to 31 December 2012 according to § 1 para 2 and 2a PKG , and 3. / the workers not transfer this entitlement in accordance with article 5, paragraph 3, second sentence, may require.

(11) former workers for the 31 December 2012, a prämienfreie insurance is led to the date, may request in writing the recent conversion of qualifying in a Unverfallbarkeitsbetrag and whose severance pay until 30 June 2013 if:



1. the Unverfallbarkeitsbetrag transformed into a prämienfreie insurance in accordance with § 6 c paragraph 1 at the time of the termination of employment did not exceed the amount of § 1 para 2 and 2a PKG as amended to the date of termination of the employment relationship each arising from, 2. the Unverfallbarkeitsbetrag once more determined after conversion of this entitlement exceed not relevant to 31 December 2012 according to § 1 para 2 and 2a PKG ", and 3. / the worker not the transmission of this insurance in accordance with § 6 c para 3 second sentence may require."

28. According to article VI paragraph 1 Z 10 be added following Z 11:



"11 § 1, para 5, § 2 Z 1, article 3, paragraph 1, first sentence, and Z 2 and Z 2a and para 4 penultimate and last sentence, article 5, paragraph 1, second sentence, and paragraph 1a of Nos. 2 and para. 2 Z 2 Z 2a and paragraph 3 and paragraph 4 penultimate and last sentence and para 5, § 5a along with heading, § 6a para 1 No. 2 and Z 2a and para 4 penultimate and last sentence" , § 6c para 2 subpara 2 and Z 2a and para 3 to paragraph 5, section 6e together with heading, § 11 par. 1a and para 4, § 20 paragraph 3, article V paragraph 10 and 11 as well as article VI paragraph 2 I contact no. 54/2012 Z 3 as amended by Federal Law Gazette in force on January 1, 2013. Article 5, paragraph 1 applies only to employment, their contractually agreed beginning after December 31, 2012. second sentence"

29. in article VI para. 2 No. 3 is replaced the phrase "Labour and Social Affairs" by the phrase "Labour, Social Affairs and consumer protection".

Article 4

Change of the management trust profession Act

The economic trust vocational Act, Federal Law Gazette I no. 58/1999, as last amended by Federal Law Gazette I no. 58/2010, is amended as follows:

1. According to article 173, paragraph 5, the following paragraph 5a is inserted:


"(5a) for the termination of the ordinary membership of the Chamber of Auditors the former member may transfer of credits accumulated in the pension account pursuant to para 6 in a pension fund or an establishment within the meaning of § 5 No. 4 Pension Fund Act, Federal Law Gazette No. 281/1990, in an occupational pension group insurance or group insurance of a new employer, in a facility of additional pension insurance after section 479 of the General Social Insurance Act (ASVG)" , Federal Law Gazette No. 189/1955, or pension institution designed in a funded according to § 50 para 3 of the legal order (RAO), RGBl. No. 96/1868, require. In the event of an outbreak of the ordinary membership of the Chamber of Auditors, the ordinary member can transfer the Unverfallbarkeitsbeträgen according to the sections 5 or 6c of the operating pension Act, Federal Law Gazette No. 282/1990, or an amount from a facility of additional pension insurance according to § 479 ASVG or a utility pursuant to § 50 para 3 RAO in the Pension Fund pursuant to par. 2 require. Detailed provisions for the transfer or bank transfer are set in the Constitution."

2. the following paragraph 8 is added to § 227 par. 7:

"(8) § 173 paragraph 5a in the version of Federal Law Gazette I no. 54/2012 effective with January 1, 2013."

Article 5

Amendment of the legal procedure

The lawyer right, RGBl. No. 96/1868, last amended by Federal Law Gazette I no. 111/2010, is amended as follows:

According to article 50, paragraph 3, the following paragraph 3a is inserted:

"(3a) for the case of extinction of the permission to the practice of law or as far as their inclusion in that after funding designed utility in the respective statutes is provided - the deletion from the list of associate can designed former Board Member transferring his credits from the following funded pension institution to another, it now standing open utility, particularly in a pension fund or an establishment within the meaning of § 5 Z 4 PKG" , apply for an occupational pension group insurance or group insurance of a new employer or a supply and support establishment of self-employed workers. Detailed provisions for the transfer are to settle in the relevant statutes."

Article 6

The amendment to the legal regulations in force

"Article 1 § 50 paragraph 3a in the version of Federal Law Gazette I no. 54/2012 effective with January 1, 2013."

Article 7

Modification of the salary Fund Act 2002

The 2002 salary Fund Act, Federal Law Gazette I no. 154/2001, as last amended by Federal Law Gazette I no. 58/2010, is amended as follows:

1. According to article 41, paragraph 5 the following paragraph 6 is added:

"(6) in the event of termination which may cancel membership to the salary fund former member transfer of credits accumulated in the pension account pursuant to paragraph 4 in a pension fund or an establishment within the meaning of § 5 No. 4 pension fund law, into an occupational pension group insurance or group insurance of a new employer, in a facility of additional pension insurance to section 479 of the General Social Insurance Act (ASVG), Federal Law Gazette No. 189/1955" , or in a utility funded designed according to § 50 para 3 of the legal order (RAO), RGBl. No. 96/1868, require. In the event of an outbreak of the membership to the salary fund the Member can transfer the Unverfallbarkeitsbeträgen according to the sections 5 or 6 c of the operating pension Act (BPG), Federal Law Gazette No. 282/1990, or an amount from a facility of additional pension insurance under § 479 ASVG require in the performance of the supply pursuant to paragraph 4. Detailed provisions for the transfer or bank transfer are set in the guidelines."

2. According to article 74, paragraph 13, the following paragraph 14 is attached:

"(14) § 41 para 6 as amended by Federal Law Gazette I no. 54/2012 effective with January 1, 2013."

Fischer

Faymann

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