State-Sponsored Retirement Provision-Zusatzrückstellungs-Verordnung-Pzv Zrv

Original Language Title: Prämienbegünstigte Zukunftsvorsorge-Zusatzrückstellungs-Verordnung – PZV-ZRV

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297. Regulation of the financial market authority (FMA) on the provision for investment risks in the State-sponsored retirement provision, which go beyond the investment risks of life insurance (State-sponsored retirement provision Zusatzrückstellungs regulation PZV ZRV)

On the basis of § 152 paragraph 2 of the insurance supervision law 2016 - VAG 2016, Federal Law Gazette I no. 34/2015, as last amended by the Federal Act Federal Law Gazette I no. 112/2015, is prescribed:

Scope of application

§ 1. For contracts of the State-sponsored retirement provision in accordance with the sections 108 g to 108i of the income tax Act 1988 - EStG 1988, Federal Law Gazette No. 400/1988, in the version of Federal Law Gazette I no. 118/2015 (PZV), is an additional provision amounting to at least according to to form section 5 as far as the associated assets of the State-sponsored retirement provision is not a secured share include.

Definitions

2. (1) the expired term of contract k up to the current balance sheet date calculations in this regulation must be made to the, is known with tk.

(2) the minimum period of contract of k is called nk. After expiry of the minimum period and continued existence of the Treaty is nk = tk + to put 1.

(3) the market value of the entire portfolio of the State-sponsored retirement provision at the balance sheet date at the additional provision is to make is called W.

(4) the market value of the non-hedged shares of entire portfolios of the State-sponsored retirement provision at the balance sheet date at the additional provision is to make is referred to with.

(5) in order to determine the discount rate is an interest rate of maximum i allowed = 1.75%.

(6) the j-th premium deposit at contract k is called PJ, k.

(7) Sigma referred to (in percent) a recognized stock index of the Exchange on which the largest portion of the portfolio in the annual average of the year is volatility, is to make the additional provision to its end. The fair values of the assets are to be used for the calculation of the annual average at month end of the fiscal year.

Calculation of the maximum loss

§ 3. The maximum loss L at the balance sheet date is the minimum, so the smaller value of and calculation of the amount of the guarantee

§ 4 (1) which will guarantee amount to the balance sheet date, to which the additional provision is to make each the discounted sum of the previous premium deposits G determined JK the total number of contracts of the State-sponsored retirement provision stating the number of the previous premium deposits contract k and K:



(2) additional guarantee amounts or profit shares allocated during the period are to be added the amount of the guarantee referred to in paragraph 1, taking into account the date of origination of the claim on the respective service.

Calculation of the additional provision

§ 5. The minimum amount of the additional provision for Vzus arises from the maximum of loss of L in accordance with § 3 plus the amount of warranty G in accordance with § 4 less of the market value of the entire portfolio of W in accordance with § 2 para 3 and zero:



Cover of the additional provision

§ 6. The additional provision in accordance with § 5 is to cover No. 1 VAG 2016 in the cover stock pursuant to article 300, paragraph 1.

Entry into force

§ 7. This Regulation shall enter into force 1 January 2016.

Ettl Kumpf Müller