Regulatory Alerts2003-11-19
Ordinance No. 9 of 19.11.2003 on Valuing Pension Insurance Assets and Liabilities, Calculating Net Asset Value and Share Value, and Maintaining Individual and PEPP Accounts
The Financial Supervision Commission issued Ordinance No. 9 of 19.11.2003 to mandate daily and monthly valuation procedures for assets and liabilities of supplementary pension funds, payment funds, and pension insurance companies. It establishes precise methodologies for calculating net asset values, single share prices, and investment returns across various fund types, including mandatory, voluntary, occupational, and Pan-European Personal Pension Product (PEPP) sub-funds. The regulation further standardizes the maintenance of individual insured accounts, PEPP accounts, and analytical accounts for deferred payment funds, while specifying valuation fallback methods for securities and collective investment units lacking active market prices.