On Jul. 1, DEN FSA consulted on the valuation of pension provisions.
DEN FSA consulted on amendments to executive order on valuation of pension provisions and pension schemes in case of re-election for company pension funds.
The draft has been sent for consultation to a number of organizations.
Purpose
The purpose of the amending executive order is that chapter 1 of the executive order takes into account the parts of a pension fund which is linked to investment funds.
Where the company pension fund has not assumed investment risk, or biometric risk.
Effectiveness
Any comments on the executive order should be submitted by Aug. 30, 2024.
The executive order is expected to take effect on Jan. 1, 2025.
Nov. 2024 Final Executive Order
On Nov. 30, 2024, DEN GVT issued Nov. 27 order on valuation of pension provisions.
DEN GVT issued executive order (OG BEK 1300) amending Executive Order OG BEK 13 on the Valuation of Pension Provisions and Pension Schemes, dated Jan. 4, 2019.
Specifically, in the context of reappointment for company pension funds.
Amendments focus on valuation of pension provisions and pension schemes in connection with re-election for company pension funds, amending OG BEK 13.
Executive Order contains provisions implementing parts of Directive 2016/2341 on the activities of institutions for occupational retirement provision (IORPs) and supervision.
Executive Order will enter into force on Jan. 1, 2025.
Regulators
DEN FSA
Entity Types
Corp; Pension
Reference
OG 11/30/2024; BEK 1300, 11/27/2024; CP, PR, 7/1/2024; OG BEK 13 (DEN); IORP Dir 2016/2341, Dir 2003/41; Citation: OG BEK 1300;
Functions
Actuarial and Valuation; Compliance; Financial; Reporting; Risk; Treasury
