Regulatory Alerts2008-08-26
Rules of management and operation for institutions for occupational retirement provision
The Belgian Banking, Finance and Insurance Commission issued this circular to clarify the management and operational rules that institutions for occupational retirement provision must stipulate in their Articles of Association or agreements with sponsoring undertakings. The document details mandatory provisions regarding asset management, separate fund allocation, procedures for sponsor insolvency or withdrawal, and conflict resolution mechanisms. It further specifies additional requirements for multi-company funds, including rules on solidarity degrees, share calculations, and fee apportionment, while defining the compliance deadlines for existing and new institutions.
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