Regulatory Alerts2024-09-13
Austrian Pensionskassen Act (PKG)
The Austrian Federal Act establishes the legal framework for Pensionskassen, defining them as enterprises providing old-age, survivors, and invalidity pensions under strict regulatory oversight. It mandates that these entities operate as joint stock companies in Austria and adhere to rigorous governance standards, including minimum yield guarantees and specific investment diversification rules to protect beneficiaries. The legislation further regulates ownership structures, requiring Financial Market Authority approval for significant shareholdings and distinguishing between single-employer and multi-employer pension schemes.
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