Biometric calculation bases and actuarial interest rate for pension funds and pension funds

Overview

The changes in the legal framework for company pension schemes in the
implementation channels of pension funds have led to some changes
in the business activities of these pension providers, with the result that the business areas
of pension funds, pension funds and life insurance companies overlap in some cases. However, regulated pension funds pursuant to Section 233 VAG and in particular pension funds,
insofar as they do not provide retirement benefits in the form of insurance pursuant to Section 236 (2), 2a
and 2b VAG, often use different calculation bases for reserving3
than the other pension funds and life insurance companies.
This paper deals with the question of how this should be assessed from an actuarial perspective
. To this end, the
framework conditions to be taken into account when selecting the calculation bases, such as the group of insured persons or beneficiaries, the
range of benefits, existing guarantees, capital investment and so-called restructuring clauses
are described and general principles for determining the calculation bases and the
safety margins are specified.

The material scope of application of this document concerns the actuaries of pension funds
and pension funds.