Feststellung der Unbedenklichkeit von Versicherungsbedingungen von Pensionskassen bei Einführung neuer Versicherungsbedingungen oder bei Änderung bestehender Versicherungsbedingungen Genehmigung

Section 234 (2) sentence 3 VAG

As a pension fund, you want to introduce new insurance conditions or change existing insurance conditions and there is no approval requirement.

Pension funds must submit to the German Federal Financial Supervisory Authority (BaFin) amendments to insurance terms and conditions that previously did not have to be approved by BaFin.

If BaFin does not raise any objections within 3 months of submission, or if it establishes that they are unobjectionable beforehand, the General Terms and Conditions of Insurance (GTCI) become effective. They do not require approval.

The same procedure applies to the introduction of new insurance conditions by pension funds that are not regulated (within the meaning of Section 233 VAG).

• Document with new or modified insurance conditions

• You would like to
  • change the AVB at your pension fund that did not previously have to be approved by the supervisory authority when they were introduced, or
  • introduce new AVB at your pension fund that is not regulated in accordance with § 233 VAG.
• Your Pensionskasse is supervised by BaFin.

BaFin charges a fee based on the time spent.

To submit new or amended terms and conditions of insurance to BaFin online, proceed as follows:

• Access BaFin's notification and publication platform (MVP Portal).
  • In order to be able to make submissions for the "Insurance Supervision" specialist procedure, you must first register in the MVP Portal and then log in with an application for the MVP specialist procedure.
  • For more information on using the MVP Portal, please refer to the "Information sheet on the specialist procedure for insurance supervision".
• Select the specialist procedure "Insurance Supervision", upload all required documents and submit your notification online.
• Upon receipt, BaFin will review your submission.
• Provided that it is determined to be unobjectionable, you will receive the decision regarding your submitted conditions online in the portal or by mail.

There is no time limit. You may only use GCI whose harmlessness has been established or whose harmlessness can be assumed 3 months after submission to BaFin.

There are no clues or specifics.

• Objection
• Action before the administrative court

• Determination of the harmlessness of insurance conditions of pension funds when introducing new insurance conditions or when amending existing insurance conditions Approval
• Pension funds must submit amendments to insurance terms and conditions that did not previously require approval by the supervisory authority
• if the Federal Financial Supervisory Authority (BaFin) does not raise any objections within 3 months after submission or if it establishes the harmlessness beforehand, the updated General Insurance Conditions (AVB) become effective
• the same procedure applies to the introduction of new insurance conditions by pension funds that are not regulated within the meaning of § 233 VAG (German Insurance Supervision Act)
• submit new or amended insurance terms and conditions online via BaFin's reporting and publication platform (MVP Portal)
• responsible: Federal Financial Supervisory Authority in the case of pension funds subject to federal supervision.