EIOPA · 1077
1077
- Regulation
- (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
- Article
- 35
- Submitted
- 2017-04-29
- Answered
- 2019-09-24
Question
S.12.01In row R0030, UL pension polices have a transfer value. Is this regarded as a surrender value or should the SV be zero for these policies?
Answer
We confirm that in S.12.01 the surrender value of the unit-linked products should be reported. Unless a specific surrender value has been specified in the contract, this should be understood as the unitised fund value, where applicable corrected by commissions as defined contractually in case of a surrender of the product. In the specific case of the UK pension products the surrender value is the transfer value.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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