News

23 January 2014
News

2013 financial reporting on occupational pension schemes

Private life insurers in Switzerland have received instructions for preparing the data for the 2013 financial reporting on occupational pension schemes. They now have until 30 April 2014 to report to FINMA on their activities in group occupational pension schemes in 2013.  The key data and 2013 financial results are to be communicated to the insured pension funds, collective insurance schemes and the persons they insure by 31 May 2014. While in 2012 private life insurers had been requested for the first time to break down operating costs and benefit processing costs according to cost bearers, and to show investments in detail, they are now requested to separately disclose commissions for broker, intermediaries and their own sales representatives in the 2013 financial reporting. In addition, gross premiums booked are to be broken down into periodic and single premiums obtained from transferred retirement assets and assumed pension benefits.