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European Insurance and Occupational Pensions Authority

532

Q&A

Question ID: 532

Regulation Reference: Guidelines on reporting for financial stability purposes

Article: 35

Status: Final

Date of submission: 10 Feb 2016

Question

1)    Does “lapse or surrender” include “Beitragsfreistellung” (deferred payments)?
2)    Volume of contracts with lapse or surrender: does this refer to the volume of the contract at the beginning of the reporting period or at the time the contract is leaving the fund?
3)    Should new business be considered in the calculation?

EIOPA answer

1.    Where material and affecting technical provisions, deferred payments should be included in the calculation
2.    Following the LOG-file, this refers to the beginning of the reporting period
3.    New business should not be considered. As the denominator refers to the beginning of period, including new business would distort the measure.