At the time of introduction of premium pension institutions into Dutch law – effective 1 January 2011 – the government also announced plans to introduce detailed rules for pension custodians (pensioenbewaarders) on sound and controlled business operations. Further rules on the solidity of premium pension institutions and the provision of annual accounts were also announced.
A decree implementing these plans has now been published. The decree also sets out how the costs of supervision are passed on to premium pension institutions.
The new decree amends the Decree on Prudential Rules FMSA, the Decree on Conduct of Business Supervision of Financial Undertakings FMSA and the Decree on Funding of Financial Markets Supervision. It came into force on 26 March and has retroactive effect from 1 January 2011.