Regulatory Alerts2022-05-25
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Regulation on the Provision for Administrative Expenses 2013
The Austrian Financial Market Authority issued this regulation to establish uniform criteria for calculating and managing administrative expense provisions for pension companies. It mandates actuarial calculations based on unit costs for beneficiaries, allowing for standard costs of EUR 85 per year if specific determination proves disproportionately difficult. The rule requires pension funds to balance any resulting underfunding or overfunding over a maximum period of ten years through annual adjustments.
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