The Superintendency of Banking, Insurance and Private Pension Funds of Peru (SBS) published a draft regulation on actuarial aspects for benefit funds, including the Military and Police Pension Fund, aiming to strengthen the management of technical risks in line with each entity’s nature, size and operational complexity and the pension schemes they administer. The proposal would introduce, for the first time, specific actuarial requirements for benefit funds covering technical reserves and technical risk management. It assigns responsibilities to the board, management and the professional in charge of the technical risk management function, and sets out guidance on the establishment, calculation and monitoring of technical reserves, reserve calculation methodology documentation, technical risk indicators, policies and procedures manuals, data quality, fitness requirements for the actuarial professional and the technical risk function lead, and the use of information systems and IT tools. The draft is open for public and industry comments on the SBS website until 21 March 2025.
Superintendencia de Banca, Seguros y AFP del Peru 2025-02-20
Superintendency of Banking, Insurance and Private Pension Funds of Peru consults on first actuarial and technical reserve rules for benefit funds
The Superintendency of Banking, Insurance and Private Pension Funds of Peru (SBS) released a draft regulation on actuarial aspects for benefit funds, including the Military and Police Pension Fund, to enhance technical risk management. The proposal introduces specific actuarial requirements for technical reserves and risk management, detailing responsibilities for boards, management, and actuarial professionals, and provides guidance on reserve calculation, risk indicators, and data quality.