Regulatory Alerts2018-11-01
FINMA Circular 2018/4 Tariffing – Occupational Pension
FINMA issued Circular 2018/4 to establish binding requirements for the business-plan-based determination of savings, risk, and cost tariffs, as well as surrender values and general insurance conditions for Swiss occupational pension schemes. The regulation mandates that tariffs must be transparent, consistent, and mathematically recalcable, requiring the use of recognized technical bases for interest rates, mortality, and costs while strictly limiting non-technical premium adjustments. It supersedes previous circulars on the "Swissness" principle and risk insurance tariffing, with full application required by January 2020 and specific provisions phased in by 2022 and 2024.
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