Regulatory Alerts2022-01-01
Added · Updated
Rulebook on the Procedure for Compensating Damages to Members of a Voluntary Pension Fund and/or the Voluntary Pension Fund
The rulebook establishes the procedure for pension companies to compensate damages to members of voluntary pension funds or the funds themselves in cases of significant errors in share price calculation or breaches of investment limits. Compensation is required when the error exceeds 1% of the share price or the investment breach exceeds 10% of the allowed limit, provided the issue is identified within one year. Pension companies must prepare a compensation plan within 60 days, notify affected members, and bear all associated costs, with specific thresholds excluding claims under 7.50 euros for individual members.
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