The German Federal Financial Supervisory Authority has issued a circular specifying how Pensionskassen and pension funds must report an insolvency protection event involving an employer whose occupational pension commitment they administer. Effective Sept. 30, 2026, the circular replaces the previous supervisory notice and applies to Pensionskassen and to pension funds with insurance based pension plans. Once aware of an event, an institution must promptly notify its responsible supervisory authority and the Pensions-Sicherungs-Verein Versicherungsverein auf Gegenseitigkeit, or PSVaG, and describe the impact on the institution. BaFin expects firms to use its prescribed form and submit the event and all available impact information without undue delay. Missing information must follow as soon as possible, with the expected delivery timeframe and reasons for the delay included in the covering letter. No notification is required for pension fund plans that are not insurance based because their assets and liabilities transfer to the PSVaG by law.
German Federal Financial Supervisory Authority sets reporting expectations for employer insolvency protection events affecting Pensionskassen and pension funds
The German Federal Financial Supervisory Authority has set reporting expectations for employer insolvency protection events affecting Pensionskassen and insurance based pension fund plans. Institutions must promptly notify the supervisor and PSVaG using the prescribed form, provide available impact information and supplement missing details as soon as possible.