Request approval for the introduction of new or the amendment of existing insurance conditions of pension funds
Source: Serviceportal Rheinland-PfalzPension funds must have changes to insurance conditions approved by the supervisory authority.
Regulated pension funds must also have new insurance conditions approved.
New and amended insurance conditions may only come into force once they have been reviewed and approved by the German Federal Financial Supervisory Authority (BaFin).
To apply electronically to BaFin for approval of new or amended insurance conditions, proceed as follows:
-
Call up BaFin's notification and publication platform (MVP Portal).
- In order to be able to make submissions for the "Insurance Supervision" specialist procedure, you must first register in the MVP Portal and then log in with an application for the MVP specialist procedure.
- Further information on using the MVP portal can be found in the "Information sheet on the insurance supervision specialist procedure"
- Select the specialized procedure "Insurance Supervision", upload all required documents and submit your notification.
- Upon receipt, BaFin will review your submission.
- You will receive notification of your application electronically or by post.
- You are a regulated pension fund and would like to introduce new insurance conditions or change existing insurance conditions or you are a deregulated pension fund and would like to change insurance conditions that already had to be approved by the supervisory authority in the past.
- Your pension fund is supervised by BaFin.
- Application for approval
- New or amended insurance conditions
Fee: 998,00 EURPayment in advance: nohttps://www.gesetze-im-internet.de/findagebv/anlage.html
There is no deadline. The new or amended insurance conditions may only come into force after approval.
Objection Deadline: 1 Month
Processing Time: 1 - 3 MonthsBaFin will usually process your application within 1 to 3 months.
(§ 234 para. 2 sentence 1 in conjunction with § 233 para. 3 sentence 1 in conjunction with § 9 para. 2 no. 2 and § 12 para. 1 sentence 1 VAG; § 234 para. 6 sentence 1, also in conjunction with § 233 para. 5 sentence 2, in conjunction with § 336 VAG
- § Section 232 of the Insurance Supervision Act (VAG)
- § Section 234 (2) and (6) sentence 1 of the German Insurance Supervision Act (VAG)
- § Section 233 (3) sentence 1, (3) sentences 3 and 4 and (5) sentence 2 of the Insurance Supervision Act (VAG)
- § Section 219(3)(1)(b) of the Insurance Supervision Act (VAG)
- § Section 9 (2) no. 2 of the Insurance Supervision Act (VAG)
- § Section 12 (1) sentence 1 of the Insurance Supervision Act (VAG)
- § Section 336 of the Insurance Supervision Act (VAG)
- Annex to Section 2 (1) of the Financial Services Supervision Fees Ordinance (FinDAGebV)
- Opposition
- Compulsory action
Forms available: No
Written form required: No
Informal application possible: Yes
Personal appearance necessary: No
- Information on the supervision of pension funds on the website of the Federal Financial Supervisory Authority (BaFin)
- General information on insurance supervision by BaFin on the BaFin website
- User manual for BaFin's reporting and publication platform (MVP Portal)
- Information sheet on the specialist procedure for insurance supervision on the MVP portal
29.11.2022
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