Regulatory Alerts2024-06-28
Guidelines for Preparing Informative Pension Calculations from Mandatory Pension Insurance of Individual Capitalized Savings
The Croatian Financial Services Supervisory Agency (Hanfa) issued guidelines to standardize how pension insurance companies prepare informative pension calculations for members with less than one year until retirement eligibility. These guidelines mandate that companies clearly disclose the non-final nature of the calculations, explain associated risks and fees, and obtain specific member consent to retrieve data from the Central Registry of Insured. The document requires transparent communication regarding data accuracy, inflation risks, and the impact of various payout options on the final pension amount.
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