responsibility finder
Schleswig-Holstein

We only need 2 pieces of information from you.

Where?

Specify your location to receive regionalized information.

What?

You searched in services/administrative services.

Selected service: Determining the safety of new or amended insurance conditions of pension funds
Information about "Determining the safety of new or amended insurance conditions of pension funds" was found.

Enter words here that describe what you are looking for (e.B. cut a tree) or a matter for citizens and companies (e.B. house construction, marriage).
Enter here names or the name of a body, office or authority you are looking for (e.B. Tax Office Kiel, Police Lübeck).

Determining the safety of new or amended insurance conditions of pension funds

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6Plus)

Service Description

As a pension fund, you would like to introduce new insurance conditions or change existing insurance conditions and there is no requirement for approval.

Pension funds must submit changes to insurance conditions to the German Federal Financial Supervisory Authority (BaFin) that did not previously have to be approved by BaFin.

If BaFin raises no objections within 3 months of submission or if it determines that there are no objections beforehand, the General Terms and Conditions of Insurance (AVB) become effective. They do not require approval.

The same procedure applies to the introduction of new insurance conditions by pension funds that are not regulated (within the meaning of Section 233 VAG).


Process flow

To submit new or amended insurance conditions to BaFin online, proceed as follows:

  • Go to 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.
    • For more information on using the MVP Portal, please refer to the "Information sheet on the insurance supervision specialist procedure".
  • Select the specialized procedure "Insurance Supervision", upload all required documents and submit your notification online.
  • Upon receipt, BaFin will review your submission.
  • If it is found to be harmless, you will receive the decision regarding the conditions you have submitted online in the portal or by post.
Requirements
  • You would like to
    • change the GCI of your pension fund, which previously did not have to be approved by the supervisory authority when they were introduced, or
    • introduce new GCI for your pension fund that is not regulated under § 233 VAG.
  • Your pension fund is supervised by BaFin.
Which documents are required?
  • Document with new or amended insurance conditions
What are the fees?

BaFin charges a fee based on the time spent.

What deadlines do I have to pay attention to?

There is no deadline. You may only use GCIs that have been determined to be unobjectionable or that can be assumed to be unobjectionable 3 months after submission to BaFin.

Objection deadline: 1 Month

Processing duration

Processing time: 3 Months
3 months after submission of the new or amended insurance conditions.

Legal basis

§ Section 234 (2) sentence 3 VAG

Appeal
  • Objection
  • Action before the administrative court
What else should I know?

There are no indications or special features.

Author

German Federal Financial Supervisory Authority (BaFin)


Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

Teaser

As a pension fund, you would like to introduce new insurance conditions or change existing insurance conditions and there is no requirement for approval.

Process flow

To submit new or amended insurance conditions to BaFin online, proceed as follows:

  • Go to 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.
    • For more information on using the MVP Portal, please refer to the "Information sheet on the insurance supervision specialist procedure".
  • Select the specialized procedure "Insurance Supervision", upload all required documents and submit your notification online.
  • Upon receipt, BaFin will review your submission.
  • If it is found to be harmless, you will receive the decision regarding the conditions you have submitted online in the portal or by post.

Requirements

  • You would like to
    • change the GCI of your pension fund, which previously did not have to be approved by the supervisory authority when they were introduced, or
    • introduce new GCI for your pension fund that is not regulated under § 233 VAG.
  • Your pension fund is supervised by BaFin.

Which documents are required?

  • Document with new or amended insurance conditions

What are the fees?

BaFin charges a fee based on the time spent.

What deadlines do I have to pay attention to?

There is no deadline. You may only use GCIs that have been determined to be unobjectionable or that can be assumed to be unobjectionable 3 months after submission to BaFin.

Objection deadline: 1 Month

Processing duration

Processing time: 3 Months
3 months after submission of the new or amended insurance conditions.

Legal basis

§ Section 234 (2) sentence 3 VAG

Appeal

  • Objection
  • Action before the administrative court

What else should I know?

There are no indications or special features.

Author

German Federal Financial Supervisory Authority (BaFin)


Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

Further information and offers