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Test Actuarial Report Regulation

Original Language Title: Prüfaktuar-Prüfberichtverordnung

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418. Regulation of the Financial Market Supervisory Authority (FMA) on the minimum breakdown and content of the test report test report in accordance with § 21 (8) of the German Financial Market Act (PKG) (Prüfaktuar Audit Report)

On the basis of § 21 (8) of the Pensionskassengesetz-PKG, BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I No 59/2005, shall be ordered:

General

§ 1. (1) For each investment and risk community, the audit faction shall draw up a separate audit report in accordance with Section 21 (8) of the PKG. The audit report shall be in accordance with the following structure:

Chapter 1: Fundamentals of Examination

Chapter 2: Beneficiaries of rights and benefits

Chapter 3: Result of the assessment

Chapter 4: Cover provision, fluctuation reserve

Chapter 5: Insurance results

Chapter 6: Outcome of the investment and risk community

Chapter 7: Summary and endorsement

(2) The audit report referred to in paragraph 1 is a subdivision of Appendix 2 to § 30 PKG, Form B (income statement of an investment and risk community), in accordance with paragraph 3, in electronic form, either by e-mail or on a electronic storage medium.

(3) The items of Appendix 2 to § 30 PKG, designated by Roman numerals, are to be broken down in accordance with the following list, with the exception of items A.I. and A.III., with all the positions in employer and employee shares The following are:

1.

Beneficiaries,

a)

the recipients of contributions,

b)

non-contributor;

2.

Beneficiaries,

a)

age-old-age-sionists,

b)

Invalidity-sionists,

c)

Widower/Witwerpensioners,

d)

Orphan pensioners.

(4) The subdivision of the items to the fluctuation reserve shall be carried out only in so far as this is possible in the manner of the management of the fluctuation reserve (individually or globally).

(5) The test billboard has the conformity of the calculation of the business plan provision for the administrative costs incurred after the start of the pension (administrative cost reserve) with the provisions of the administrative cost recovery regulation, BGBl. II No 16/2001, as amended, as well as with the approved business plan of the pension fund. The results of the examination shall be recorded in a separate audit report.

(6) The test reports referred to in paragraph 1 and paragraph 5 shall be submitted in electronic form in a format compatible with Adobe Acrobat of the FMA, either by e-mail or on an electronic storage medium.

Fundamentals of Examination

§ 2. In Chapter 1, the examination mandate and the examination procedure shall be presented and an overview of the structure of the investment and risk community shall be given and the essential provisions of the business plan shall be disclosed. This includes in particular:

1.

The nature of the test;

2.

the examination period;

3.

the documents used in the course of the examination within the meaning of Section 21 (7) of the PKG, as well as an overview of the examination methodology;

4.

the group of persons for which the investment and risk community is intended;

5.

the section of the business plan applicable to the investment and risk community;

6.

an actuarial short classification (information within the meaning of section 20 (2) (1), (3) and (4) of the PKG).

Entitlement and benefit

§ 3. (1) In Chapter 2, the evolution of the stock of rights and benefits is to be presented in detail from the balance sheet date of the previous year up to the current balance sheet date. The stock development of eligible persons and persons entitled to benefit shall be presented at least in accordance with the structure referred to in Appendix 1.

(2) Beneficiaries of rights and benefits shall be distinguished as follows:

1.

Eligible persons with an ongoing contribution payment,

2.

eligible beneficiaries with untramly accued-to-do

3.

age-old-age-sionists,

4.

Invalidity-sionists,

5.

widower/widower,

6.

Orphans.

(3) In addition to the subdivisions referred to in paragraph 2, access to, and exit from, and transfers between the categories of persons as referred to in paragraph 2 shall be indicated,

1.

New access,

2.

Transition in (s) a different investment and risk community,

3.

The loss of claim,

4.

Exit,

5.

Death.

§ 3a. Chapter 2 shall also specify the extent to which the preparation of the annual information to the eligible persons and the eligible persons in the previous financial year has been reviewed. In particular, the following points shall be taken into account:

1.

compliance with the legal requirements,

2.

the accuracy of the information,

3.

the control of forward-looking statements and their underlying assumptions, in particular whether they are realistic and cautious at the time of the review,

4.

Intelligibility of the statements.

Assessment result

§ 4. In Chapter 3, the information necessary to assess the permanent performance of the benefits shall be recorded in relation to the performance of the assets allocated to the investment and risk community. The audit factual can be based on data already verified by the statutory auditor of the pension fund in the course of its audit of the annual financial statements. The calculation of the minimum order according to § 2 para. 2 and 3 PKG as well as an all-due credit from the pension fund is to be documented. With regard to the "interest income according to § 48", the calculation basis shall be indicated in accordance with § 48 PKG, the development of the transfer as well as the amount of interest and the interest rate.

Cover return, fluctuation reserve

§ 5. (1) In Chapter 4, the development of the cover provision and the fluctuation reserve shall be indicated from the balance sheet date of the previous year up to the current balance sheet date, taking into account the management of the fluctuation reserve. The subdivision of Section 1 (3) is to be applied.

(2) The conformity of the calculation of the cover provision with the business plan shall be considered and the result of the review shall be indicated. If the test is carried out on samples, the sample number and the procedure for selecting the samples shall be given. The development of the cover provision shall be presented at least in accordance with the structure referred to in Appendix 2.

(3) In the case of a fluctuation reserve, comments are to be made on the following points:

1.

the nominal value of the fluctuation reserve;

2.

the calculation of the average assets of the investment and risk community and the allocation of the assets allocated and the associated average assets to the groups of eligible beneficiaries and/or beneficiaries;

3.

Calculation of the assets relevant for the management of the fluctuation reserve in accordance with section 24 (3) of the PKG;

4.

Assignment in accordance with § 24a para. 3 PKG;

5.

Resolution pursuant to § 24a para. 5 PKG;

6.

Resolution pursuant to § 24a para. 6 PKG;

7.

Resolution pursuant to § 24a (7) PKG, whereby the PKG is to be broken down according to the leadership of the fluctuation reserve for eligible persons and persons entitled to benefit;

8.

Termination of the fluctuation reserve for infestation services, severance payments or transfers pursuant to § 5 para. 2 BPG, § § 17 and 41 PKG (Form B, Pos. C.V.), which shall be specified separately according to the sources of the source of the polluter;

9.

Management of a negative fluctuation reserve in accordance with § 24a (8) PKG.

The development of the fluctuation reserve shall be presented, at least in accordance with the structure referred to in Appendix 3.

Insurance-related result

§ 6. (1) In Chapter 5, reinsurance shall be presented in an oversight manner, according to the business plan. The sum of the risk premiums in accordance with the business plan, the sum of the insurance premiums for invalidity pension rights and the sum of the insurance premiums for survivor's pension rights shall be indicated. It must also be stated whether the insurance requirements have been taken into account to an appropriate extent.

(2) The insurance-related result of the investment and risk community shall be broken down into actuarial components and shall be presented separately, and shall be checked for compliance with the business plan. If the technical result is divided into accounting circles, this is to be shown in detail.

(3) In the case of the following points, the following points shall be taken:

1.

Correctness of the separate calculation of the technical result according to § 24 para. 5 PKG,

2.

Resettlement of employers ' contributions in accordance with Section 24 (6) of the PKG.

Result of the investment and risk community

§ 7. (1) In Chapter 6, the use of the results of the investment and risk community shall be analysed and the distribution of results shall be explained in more detail to the beneficiaries and beneficiaries, unless this is already the case in the previous Chapters have been shown.

(2) The following points shall be made to the following points:

1.

the transfer of credits with current contributions, employers 'and employers' repayments and their interest rate,

2.

Random check of the conformity of the cost calculation for the determination of transfer orders as well as for non-contributory counties with the business plan or the pension fund contract.

Summary and audit opinion

§ 8. (1) In Chapter 7, the investment and risk community shall be analysed on the basis of a summary of the results of the audit. Exceptional occurrences, which may arise, for example, by a change in the law, must be explained separately and explained in detail.

(2) The conduct of the examination of the investment and risk community within the meaning of section 21 (6) of the PKG is to be confirmed. Any measures necessary shall be indicated.

(3) The accounting principles in accordance with § 20 (2) (3) of the PCG are to be assessed with regard to the permanent performance of the services and the necessary changes are to be disclosed.

(4) Facts or measures within the meaning of Section 21 (9) of the PKG shall be disclosed.

(5) If no objections are to be raised following the final result of the actuarial review, the audit factual shall confirm this by endorsement: " The tests carried out did not result in any objections. After my due examination, the statutory provisions and the business plan were complied with. From today's point of view, the concerns of eligible persons and persons entitled to benefits are sufficiently safeguarded and the permanent fulfilment of the obligations is secured from an actuarial point of view. "

(6) The test report shall be prepared by its own hand.

Administrative cost recovery

§ 8a. The audit report pursuant to section 1 (5) shall contain the following points:

1.

The main provisions of the business plan with regard to the management and calculation of the administrative cost reserve.

2.

The changes in the administrative cost recovery in the financial year shall be presented in detail.

3.

Where the administrative cost recovery is carried out in accordance with Article 3 (6) of the Administrative Costing Ordinance, the following shall be stated:

a)

the date of the last control bill,

b)

the date on which the next control bill is to be taken,

c)

where a control statement has been carried out in the financial year, the methodology, the result and the conclusions shall be indicated.

4.

If there is a revelation pursuant to § 2 (5) or § 4 of the Administrative Costs of the Administrative Costs of the Administrative Costs, the original undercover or cover, the changes to date and the existing ones at the end of the relevant financial year are still existing. Obligation to specify.

5.

If, according to the final result of the actuarial review, no objections are to be made, the audit factual shall confirm this by endorsement: " The tests carried out did not result in any objections. After my due examination, the statutory provisions and the business plan were complied with. From today's point of view, the interests of the eligible persons and beneficiaries are sufficiently safeguarded. "

6.

Self-signed signature of the test item.

In-force pedals

§ 9. This Regulation shall be applied for the first time to the audit report for the 2006 financial year.

Out-of-Force Trees

§ 10. The ordinance of the Federal Minister of Finance for the implementation of the Pensionskassengesetz (Examination Regulations), BGBl. II No 424/1997, as amended by the BGBl Regulation. II No 17/2001, enters into force on 31 December 2006.

Pribil Traumüller