Regulatory Alerts2022-07-27 | Resolución SBS 02352-2022Added · Updated
Resolution SBS No. 02352-2022: Modification of Title VII of the Compendium of Regulatory Supervision Standards for the Private System of Pension Fund Administration, regarding Benefits
The resolution modifies Title VII of the Compendium of Regulatory Supervision Standards for the Private System of Pension Fund Administration to update the bidding process for the disability, survivorship, and burial expenses insurance (SISCO). It introduces stricter requirements for actuarial firms, including international presence and specific experience thresholds, and mandates the use of reference premium rates supported by detailed actuarial reports. The regulation allows for remote bidding channels, permits successive bidding rounds or new processes for unawarded fractions within 30 days, and authorizes exception measures for the SISCO VI process, such as mobile premium rates and flexible fraction limits. These changes apply to Private Pension Fund Administrators (AFPs) and insurance companies participating in the collective insurance policy administration.
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