Surplus participation in pension funds as occupational pension schemes

Overview

This guidance is a fundamental revision of the guidance "General Guidance on the Handling of Surplus Participation in Pension Funds as Institutions for Occupational Retirement Provision" dated July 2, 2012.
This guidance addresses issues relating to surplus participation exclusively for pension funds. It does not address specific issues relating to burial funds. The explanations generally apply to both regulated and unregulated pension funds; differences are noted in details. This guidance necessarily applies only to a very limited extent to pension funds based on a financing system for which surpluses are not typical; this particularly applies to pension funds that finance themselves through a needs-based or coverage premium or according to the balance sheet adjustment procedure. Likewise, the guidance applies only to a limited extent to pension fund commitments within the framework of pure defined contribution plans; Questions regarding the pension-related design of pure contribution plans pursuant to the German Occupational Pension Strengthening Act (Berufsrentenstärkungsgesetz) are addressed in a report by aba and IVS, to which reference is made here.

This professional principle applies to pension fund actuaries.