Question ID: 1077
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.12.01
Status: Final
Date of submission: 29 Apr 2017
Question
S.12.01
In row R0030, UL pension polices have a transfer value. Is this regarded as a surrender value or should the SV be zero for these policies?
EIOPA answer
We confirm that in S.12.01 the surrender value of the unit-linked products should be reported. Unless a specific surrender value has been specified in the contract, this should be understood as the unitised fund value, where applicable corrected by commissions as defined contractually in case of a surrender of the product. In the specific case of the UK pension products the surrender value is the transfer value.