Regulatory Alerts2016-02-03
Added · Updated
Information Requirements Regulation for Occupational Group Insurance
The Austrian Financial Market Authority issued this regulation to define the minimum content and structure of information that insurance undertakings must provide to beneficiaries and insured persons of occupational group insurance schemes. It mandates detailed annual disclosures to entitled beneficiaries and recipients, including premium data, vested amounts, investment principles, and non-binding pension forecasts. Additionally, the regulation requires specific pre-switching information when policyholders consider transferring their benefits to a Pensionskasse or another occupational group scheme.
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