Regulatory Alerts2022-10-31
Guidance on Information Provision for Third Pillar Pension Products
The regulator issues guidance requiring financial institutions to inform customers at least six months before the expiration of their third-pillar pension products regarding available choices and payout options. Institutions must ensure information is accessible, understandable, and personalized, enabling customers to make informed decisions without receiving direct advice. Key requirements include explaining the 'shop right', detailing fiscal aspects, and clarifying the differences between advisory and execution-only services.
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