Key Benefits:
149. Regulation of the Financial Market Supervisory Authority (FMA) on the content and structure of the information provided by an insurance company to eligible persons, entitled to benefit or to insured persons in the company's collective insurance scheme (operational) Collective Insurance Information Obligations Ordinance-BKV-InfoV)
Due to § § 94 (7) and 98 (3) of the Insurance Supervision Act 2016-VAG 2016, BGBl. I n ° 34/2015, as last amended by the Federal Act BGBl. I No 44/2015, is prescribed with the consent of the Federal Minister of Finance in respect of Section 94 (7):
General provisions
§ 1. (1) This Regulation lays down the minimum content of the information that insurance undertakings in accordance with § 94 (4) to 6 VAG 2016 are entitled to entitled to legal rights and benefits, as well as the contents of the information provided by insurance undertakings in accordance with § 98 (1) and (2) to insured persons.
(2) For the purposes of this Regulation the following definitions shall apply:
| 1. |
Reference year: the financial year to which the annual information relates; |
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| 2. |
relevant parameters: the invoice rate on which the tariff and the calculation of actuarial provisions are calculated, and the pension board used together with any changes and the essential contents of the on the application of the winning plan. |
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| 3. |
Annual information: from insurance companies according to § 94 (4) and (3) of the VAG 2016 in connection with § § 2 and 3 annually to information to be transmitted to a person entitled to a service or a person entitled to benefit. |
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Annual information to eligible beneficiaries
§ 2. (1) In accordance with Section 94 (4) of the VAG 2016, insurance undertakings have to inform the eligible persons in writing every year at the balance sheet date, without prejudice to other disclosure requirements. This information shall include in particular:
| 1. |
the name, address of the registered office, legal form, telephone number and fax number, as well as the Internet and e-mail address of the insurance undertaking and any branch of which the contract is administered; |
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| 2. |
the name, address of the registered office and the legal form of the (former) employer with which the insurance contract has been concluded; |
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| 3. |
the date on which the information relates; |
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| 4. |
the name, gender and date of birth of the eligible person; |
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| 5. |
Name, gender and date of birth of any co-insured persons, provided that the insurance contract provides for the provision of the survivor ' s pension on an individual basis, including the mention of insurance contracts with survivor ' s pension on an individual basis, that the non-nomination of spouses or life companions may lead to a limited survivor's performance; |
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| 6. |
the premiums received during the reference year shall be broken down by |
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| a) |
Employers ' premiums, |
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| b) |
Employees ' premiums according to § 108a of the Income Tax Act 1988 (EStG 1988), BGBl. No. 400/1988 and |
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| c) |
other workers ' premiums; |
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| 7. |
the premium for workers ' premiums in accordance with Article 108a of the EStG 1988, which was credited in the year under review; |
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| 8. |
the level of the employee premium for which a premium has been applied for at the balance sheet date in accordance with Section 108a of the EStG 1988; |
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| 9. |
the transfers received during the reference year shall be broken down by |
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| a) |
transfers from employers ' premiums, |
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| b) |
Transfers from employees ' premiums in accordance with § § 108a and 108i (1) Z 3 lit. c EStG 1988 and § 17 para. 1 Z 4 lit. b of the operative employee and self-employment protection act (BMSVG), BGBl. I No 100/2002 and |
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| c) |
transfers from other workers ' premiums; |
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| 10. |
the amount of the costs withheld during the reference year, where the indication of assets-related costs may be expressed as a percentage of the relevant tax base; |
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| 11. |
the rights acquired at the balance sheet date on the basis of occupational disability or retirement and survivors ' benefits; |
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| 12. |
the share of profits allocated at the balance sheet date and the use thereof; |
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| 13. |
the forecast of the estimated level of supply services in accordance with the conditions laid down in paragraphs 3 and 4; |
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| 14. |
the principles of investment policy, the potential risk, and the structure of the asset portfolio, provided that there are fundamental changes in the asset investment; |
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| 15. |
the development of the cover provision during the reporting year and the state of the cover provision at the balance sheet date; |
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| 16. |
the relevant parameters. |
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(2) The premiums and transfers referred to in points (1) (6) and (9) shall be disclosed, including costs and, where appropriate, insurance tax.
(3) The forecast provided for in paragraph 1 (1) (13) shall, on the basis of the cover provision, take as realistic a picture of the future as possible as possible, assuming that the last payments made by the employer and the person entitled to the award of interest are maintained. Development of insurance and retirement provision. The relevant parameters of the company's collective insurance should be taken into consideration. If, at the time of the preparation of the forecast, the insurance undertaking is aware of a substantial (future) change in the premiums of the employer and of the person entitled to the right of employment, it may be subject to the amended premiums for the production of the prognosis. , the reasons for the amended adoption shall be set out. The calculation shall be
| 1. |
the guarantee interest of the company collective insurance for the development of the cover provision and |
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| 2. |
a revenue development |
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| a) |
with an interest rate scenario in the amount of the guarantee interest of the company collective insurance, |
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| b) |
with an interest rate scenario in the amount of the total interest rate of the company collective insurance in the year under review, |
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| c) |
with an interest rate scenario of 1% above the total interest rate of the company collective insurance in the reporting year and |
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| d) |
if higher than after lit. a, with an interest rate scenario of 1% below the total interest rate of the company collective insurance during the reference year |
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| to basically lay down. |
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(4) In the forecast provided for in paragraph 1 Z 13, it is clear and unequivocal to point out the non-binding nature of the statement.
(5) In the case of an occupational collective insurance by means of a benefit commitment with an unrestricted obligation to provide the employer, the information referred to in paragraph 1 (1) (14) to (16) may be deleted and, by way of derogation from (1) (13) in conjunction with para. 3, To forecast the expected amount of pension benefits.
Annual information to beneficiaries
§ 3. (1) In accordance with Section 94 (5) of the VAG 2016, insurance undertakings have to inform the persons entitled to benefit in writing every year at the balance sheet date, without prejudice to other disclosure requirements. This information shall include in particular:
| 1. |
the name, address of the registered office, legal form, telephone number and fax number, as well as the Internet and e-mail address of the insurance undertaking and any branch of which the contract is administered; |
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| 2. |
the name, address of the registered office and the legal form of the (former) employer with which the insurance contract has been concluded; |
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| 3. |
the date on which the information relates; |
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| 4. |
the name, gender and date of birth of the person entitled to benefit; |
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| 5. |
Name, gender and date of birth of any co-insured persons, provided that the insurance contract provides for the provision of the survivor ' s pension on an individual basis, including the mention of insurance contracts with survivor ' s pension on an individual basis, that the non-nomination of spouses or life companions may lead to a limited survivor's performance; |
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| 6. |
the nature of the pension; |
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| 7. |
the change in pension benefits; |
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| 8. |
the amount of the costs withheld during the reference year, where the indication of assets-related costs may be expressed as a percentage of the relevant tax base; |
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| 9. |
Gross opension level broken down according to its tax relevance in |
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| a) |
Pension benefits from employers ' premiums, |
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| b) |
Pension benefits from employees ' premiums according to § § 108a and 108i (1) (3) (3) lit. c EStG 1988 and § 17 para. 1 Z 4 lit. b BMSVG and |
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| c) |
pension benefits from other workers ' premiums; |
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| 10. |
the share of profits allocated at the balance sheet date and the use thereof; |
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| 11. |
the basis for the current tax regime of the pension, including the foundations for joint taxation in accordance with § 47 (4) EStG 1988; |
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| 12. |
the principles of investment policy, the potential risk, and the structure of the asset portfolio, provided that there are fundamental changes in the asset investment; |
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| 13. |
the development of the cover provision during the reporting year and the state of the cover provision at the balance sheet date; |
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| 14. |
the relevant parameters; |
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| 15. |
Indication of the existence of a guarantee, including the mention in the case of a retirement part of profit-sharing which has been taken forward, that this part may also fall in case of non-profit-sharing. |
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(2) In the case of a company collective insurance by means of a benefit commitment with an unrestricted obligation to provide the employer, the information provided for in paragraphs 1 Z 12 to 14 may be omitted.
Information on the occurrence of the performance
§ 4. In accordance with Section 94 (6) of the VAG 2016, insurance companies have to inform the persons entitled to benefit in writing in writing without prejudice to other disclosure requirements in writing. This information shall include in particular:
| 1. |
the name, address of the registered office, legal form, telephone number and fax number, as well as the Internet and e-mail address of the insurance undertaking and any branch of which the contract is administered; |
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| 2. |
the name, address of the registered office and the legal form of the (former) employer with which the insurance contract has been concluded; |
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| 3. |
the date on which the information relates; |
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| 4. |
the name, gender and date of birth of the person entitled to benefit; |
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| 5. |
Name, gender and date of birth of any co-insured persons, provided that the insurance contract provides for the provision of the survivor ' s pension on an individual basis, including the mention of insurance contracts with survivor ' s pension on an individual basis, that the non-nomination of spouses or life companions may lead to a limited survivor's performance; |
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| 6. |
the nature of the pension benefits; |
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| 7. |
Gross opension level broken down according to its tax relevance in |
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| a) |
Pension benefits from employers ' premiums, |
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| b) |
Pension benefits from employees ' premiums according to § § 108a and 108i (1) (3) (3) lit. c EStG 1988 and § 17 para. 1 Z 4 lit. b BMSVG and |
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| c) |
pension benefits from other workers ' premiums; |
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| 8. |
Rolling up and rolling-up arrangements for pension payments; |
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| 9. |
the possibilities of disposal in accordance with Section 6c (5) of the Operating Law Act (BPG), Federal Law Gazette (BGBl). No 282/1990 and § 93 (1) Z 2 VAG 2016; |
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| 10. |
the date of the beginning of the pension payments; |
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| 11. |
pension payment arrangements, in particular: |
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| a) |
the number of payments per year, |
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| b) |
the date of payment: pre-sweat or afternoon, |
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| c) |
in which months the special payments shall be made, and |
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| d) |
the amount of the special payments; |
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| 12. |
the payment method; |
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| 13. |
Fundamentals of the current tax regime of the pension, including the foundations for joint taxation in accordance with § 47 para. 4 EStG 1988. |
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Information before switching to a pension fund in case of performance
§ 5. (1) In accordance with Section 98 (1) and (2) of the VAG 2016, insurance undertakings shall inform the insured persons on request prior to a possible change to a pension fund in the event of a performance:
| 1. |
the estimated amount of the incongestibility amount; |
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| 2. |
relevant parameters of the imparting company collective insurance; |
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| 3. |
systematic differences between occupational collective insurance and a pension provision in accordance with the conditions laid down in paragraph 2; |
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| 4. |
Forecast of the future development of the pension provision in the discontinuing company collective insurance under the conditions laid down in paragraph 3. |
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(2) In the context of the information referred to in paragraph 1 (3), insurance undertakings have to point out that, in the case of collective insurance undertakings and pension fund commitments, they are pension schemes where, although a large number of insurance companies are Treatment in terms of labour and social law, but which differ in terms of the assessment, guarantee benefits and changes in the pension boards used. It should also be noted that, in the case of collective insurance undertakings, there is in principle provision for a guaranteed minimum pension and the use of the pension boards valid for inclusion in the collective insurance scheme, while in the case of collective insurance undertakings, the pension plans are subject to a minimum of Pension fund commitments based on the collective agreement of income opportunities and risks, irrespective of the guarantee possibilities under the security VRG according to § 12a Pensionskassengesetz (PKG) or a minimum guarantee of income in principle no guarantee benefits are provided and the possibility of amending the in the case of pension boards used.
(3) The forecast provided for in paragraph 1 Z 4 shall, on the basis of the cover provision, give as realistic a picture as possible of the future development of the pension scheme. In this context, the relevant parameters of the issuing company collective insurance must be taken into account. The calculation shall be
| 1. |
the guarantee interest of the surrender company collective insurance for the development of the cover provision and |
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| 2. |
a revenue development |
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| a) |
with an interest rate scenario in the amount of the guarantee interest of the operating collective insurance that is issued, |
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| b) |
with an interest rate scenario in the amount of the total interest rate of the operating collective insurance in the previous financial year, |
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| c) |
with an interest rate scenario of 1% above the total interest rate of the imparting company collective insurance in the previous financial year and |
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| d) |
if higher than in the case of lit. a, with an interest rate scenario of 1% below the total interest rate of the discontinuing company collective insurance in the previous financial year |
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| to basically lay down. |
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(4) In the forecast provided for in paragraph 1 Z 4, it is clear and unequivocal to indicate the non-binding nature of the statement.
Information before switching to a pension fund when the employment relationship is open
§ 6. (1) In accordance with Section 98 (1) and (2) of the VAG 2016, insurance undertakings have to inform the insured on request before a possible change to a pension fund with an up-to-date employment relationship via:
| 1. |
the estimated amount of the incongestibility amount; |
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| 2. |
relevant parameters of the imparting company collective insurance; |
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| 3. |
systematic differences between occupational collective insurance and a pension provision in accordance with the conditions laid down in paragraph 2; |
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| 4. |
Forecast of the future development of insurance performance and retirement provision in the discontinuing company collective insurance in accordance with the conditions laid down in paragraph 3. |
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(2) In the context of the information referred to in paragraph 1 (3), the insurance undertaking has to point out that, in the case of collective insurance undertakings and pension schemes, it is a case of pension products which, although a large number of persons, are Treatment in terms of labour and social law, but which differ in terms of the assessment, guarantee benefits and changes in the pension boards used. It should also be noted that, in the case of collective insurance undertakings, there is in principle provision for a guaranteed minimum pension and the use of the pension boards valid for inclusion in the collective insurance scheme, while in the case of collective insurance undertakings, the pension plans are subject to a minimum of Pension fund pledges on the basis of the communal traits of earnings opportunities and risks, irrespective of the guarantee possibilities under the security VRG pursuant to § 12a PKG or a minimum term guarantee in principle, no guarantee benefits , and the possibility of amending the Pension boards.
(3) The forecast provided for in paragraph 1 (1) (4) has, on the basis of the cover provision, a realistic picture of the future development, assuming that the last payments made by the employer and the legal person have remained unequal. of insurance and retirement provision. The relevant parameters of the issuing company collective insurance as well as the premium payments of the previous financial year must be taken into account. The calculation shall be
| 1. |
the guarantee interest of the surrender company collective insurance for the development of the cover provision and |
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| 2. |
a revenue development |
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| a) |
with an interest rate scenario in the amount of the guarantee interest of the operating collective insurance that is issued, |
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| b) |
with an interest rate scenario in the amount of the total interest rate of the operating collective insurance in the previous financial year, |
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| c) |
with an interest rate scenario of 1% above the total interest rate of the imparting company collective insurance in the previous financial year and |
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| d) |
if higher than in the case of lit. a, with an interest rate scenario of 1% below the total interest rate of the discontinuing company collective insurance in the previous financial year |
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| to basically lay down. |
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(4) In the forecast provided for in paragraph 1 Z 4, it is clear and unequivocal to indicate the non-binding nature of the statement.
Information prior to change in case of performance in a company collective insurance
§ 7. (1) In accordance with Section 98 (1) and (2) of the VAG 2016, insurance undertakings shall inform the eligible persons on request before a possible change to an operational collective insurance in the event of performance on:
| 1. |
relevant parameters of the receiving company collective insurance; |
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| 2. |
systematic differences between occupational collective insurance and a pension provision in accordance with the conditions laid down in paragraph 2; |
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| 3. |
Forecast of the future development of the pension provision in the receiving company collective insurance in accordance with the provisions of paragraph 3. |
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(2) In the context of the information referred to in paragraph 1 (2), the insurance undertaking has to point out that, in the case of collective insurance undertakings and pension schemes, it is a case of pension products which, although a large number of persons, are Treatment in terms of labour and social law, but which differ in terms of the assessment, guarantee benefits and changes in the pension boards used. It should also be noted that, in the case of collective insurance undertakings, there is in principle provision for a guaranteed minimum pension and the use of the pension boards valid for inclusion in the collective insurance scheme, while in the case of collective insurance undertakings, the pension plans are subject to a minimum of Pension fund pledges on the basis of the communal traits of earnings opportunities and risks, irrespective of the guarantee possibilities under the security VRG pursuant to § 12a PKG or a minimum term guarantee in principle, no guarantee benefits , and the possibility of amending the Pension boards.
(3) The forecast provided for in paragraph 1 (1) (3) shall give as realistic a picture as possible of the future development of retirement provision on the basis of the inconspicuity amount acquired in the framework of the Pension Fund commitment. The relevant parameters of the receiving company collective insurance should be taken into consideration. The calculation shall be
| 1. |
the guarantee interest of the receiving company collective insurance for the development of the cover provision and |
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| 2. |
a revenue development |
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| a) |
with an interest rate scenario in the amount of the guarantee interest of the receiving company collective insurance, |
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| b) |
with an interest rate scenario in the amount of the total interest rate of the receiving company collective insurance in the previous financial year, |
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| c) |
with an interest rate scenario of 1% above the total interest rate of the receiving company collective insurance in the previous financial year and |
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| d) |
if higher than in the case of lit. a, with an interest rate scenario of 1% below the total interest rate of the receiving company collective insurance in the previous financial year |
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| to basically lay down. |
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(4) In the forecast provided for in paragraph 1 Z 13, it is clear and unequivocal to point out the non-binding nature of the statement.
Information prior to change in the case of an up-to-date employment relationship in a collective insurance company
§ 8. (1) In accordance with Section 98 (1) and (2) of the VAG 2016, insurance undertakings shall, on request before a possible change in the case of an upright employment relationship, inform the persons entitled to be informed of a possible change in the case of an occupational collective insurance:
| 1. |
relevant parameters of the receiving company collective insurance; |
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| 2. |
systematic differences between occupational collective insurance and a pension provision in accordance with the conditions laid down in paragraph 2; |
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| 3. |
Forecast of the future development of insurance performance and pension provision in the receiving company collective insurance in accordance with the provisions of the third paragraph. |
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(2) In the context of the information referred to in paragraph 1 (2), the insurance undertaking has to point out that, in the case of collective insurance undertakings and pension schemes, it is a case of pension products which, although a large number of persons, are Treatment in terms of labour and social law, but which differ in terms of the assessment, guarantee benefits and changes in the pension boards used. It should also be noted that, in the case of collective insurance undertakings, there is in principle provision for a guaranteed minimum pension and the use of the pension boards valid for inclusion in the collective insurance scheme, while in the case of collective insurance undertakings, the pension plans are subject to a minimum of Pension fund pledges on the basis of the communal traits of earnings opportunities and risks, irrespective of the guarantee possibilities under the security VRG pursuant to § 12a PKG or a minimum term guarantee in principle, no guarantee benefits , and the possibility of amending the Pension boards.
(3) The forecast provided for in paragraph 1 (1) (3) shall, on the basis of the non-falseability amount acquired in the framework of the pension fund commitment, be as short as possible, assuming that the last contributions of the employer and the legal person have been granted. a realistic picture of the future development of insurance and pensions. The relevant parameters of the receiving company collective insurance as well as the contribution payments of the previous financial year must be taken into consideration. The calculation shall be
| 1. |
the guarantee interest of the receiving company collective insurance for the development of the cover provision and |
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| 2. |
a revenue development |
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| a) |
with an interest rate scenario in the amount of the guarantee interest of the receiving company collective insurance, |
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| b) |
with an interest rate scenario in the amount of the total interest rate of the receiving company collective insurance in the previous financial year, |
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| c) |
with an interest rate scenario of 1% above the total interest rate of the receiving company collective insurance in the previous financial year and |
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| d) |
if higher than in the case of lit. a, with an interest rate scenario of 1% below the total interest rate of the receiving company collective insurance in the previous financial year |
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| to basically lay down. |
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(4) In the forecast provided for in paragraph 1 Z 3, it is clear and unequivocal to indicate the non-binding nature of the statement.
Outline
§ 9. The information in accordance with § § 2 to 8 shall be broken down in the order provided for in these provisions.
entry into force
§ 10. This Regulation shall enter into force 1. Jänner 2016 in force. § § 2 and 3 are to be applied for the first time to information on the 2016 reporting year.
Ettl Kumpfmüller
