Group life reporting for occupational pension schemes
The first revision of the Federal Act on Occupational Retirement, Survivors' and Disability Pension Plans (BVG) in 2004 included creating a framework for ensuring transparency in how surpluses in occupational pension schemes are distributed.
Comprehensive transparency
Life insurers must provide insured occupational pension funds with the information they need to meet their transparency obligations and to enable the funds' governing bodies to fulfil their mandate. An aim of the first BVG revision was to promote competition between life insurers and alternative forms of retirement provision.
The rules on group life reporting for occupational pension schemes are set out in FINMA Circular 2008/36. It states that insurers must provide FINMA annually with a data collection portfolio, an accompanying report and a disclosure proposal as part of their group life reporting for occupational pension schemes. This documentation is reviewed by the company's external auditor based on FINMA’s standard audit program.
Data on group life reporting for occupational pension schemes
Through the insurance market report and the data on group life reporting for occupational pension schemes, FINMA publishes detailed information about the activities of all life insurers operating in occupational pensions in Switzerland.
Data on group life reporting for occupational pension schemes
