Regulatory Alerts2018-12-21
FMA Minimum Standards for Informing the Beneficiaries of Pensionskassen
The Austrian Financial Market Authority (FMA) issued these minimum standards to guide Pensionskassen in providing clear and comprehensible information to beneficiaries upon inclusion in pension provisions and when leaving a company prior to a benefit event. The document mandates specific disclosures regarding benefit conditions, calculation methods, tax implications, and forward-looking investment projections, while replacing previous guidance from December 2013. Additionally, it requires detailed reporting of vested amounts and disposal options, including administrative support for beneficiaries choosing to settle their accounts upon departure.
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