Regulatory Alerts2022-05-25
Regulation on the Provision for Administrative Expenses 2013
The Austrian Financial Market Authority issued this regulation to establish uniform criteria for calculating and managing administrative expense provisions in pension companies following the onset of retirement. It mandates actuarial calculation methods, defines unit cost rates and a fixed standard cost of EUR 85 per beneficiary annually, and requires pension funds to balance any underfunding or overfunding within a maximum ten-year period. The rules apply to financial years beginning after 31 December 2012, with subsequent amendments adjusting calculation bases and standard cost valorization for later fiscal periods.
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