Social and Labour Law relevant for IORPs
Date: September 2012
Overview of the rules and requirements of Slovenian legislation which pertain to Institutions for Occupational Retirement Provisions (IORPs) that are established in another member state of the European Union and operate a pension scheme in Slovenia (cross-border).
This summary provides a list of the relevant articles in Slovenian legislation, but only the original text of the laws is legally binding.
I. Social and labour law
The relevant act is the Pension and Invalidity Insurance Act, which was issued in December 1999. Articles 292 to 381 of Chapter III of the voluntary supplementary pension insurance scheme cover all relevant definitions, pension schemes, pension funds, forms of inclusion in voluntary supplementary insurance and the rights that apply under supplementary pension insurance activities.
II. Investment rules
The general investment rules are set out in Articles 306(c) to 306(d) of the Pension and Invalidity Act. The permitted assets that cover liabilities to members and beneficiaries are set out in Article 121 of the Insurance Act (issued in 2000), whereas the diversification of the assets that cover liabilities to members and beneficiaries are set out in Articles 245 and 246 of the Investment Funds and Management Companies Act. Each pension fund must have a custodian (in accordance with Article 306(e) of the Pension and Invalidity Insurance Act).
III. Information requirements
The information requirements are set out in Article 298(b) of the Pension and Invalidity Insurance Act.