Regulatory Alerts2016-02-03
Added · Updated
Ministerial Decree of 20 January 2016 setting the maximum reference interest rate for long-term life assurance operations
The Minister of Economy and Consumers sets the maximum reference interest rate for long-term life assurance operations at 2%, overriding the National Bank of Belgium's decision to lower it to 1.5%. This adjustment ensures that insurance companies can maintain the 1.75% minimum yield guarantee required for supplementary pensions invested in branch 21 life insurance policies. The change addresses the misalignment between prudential regulations and supplementary pension laws, preventing a situation where the guaranteed minimum exceeds the permitted maximum.
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