Definition: Non-autonomous pension funds

Category:

Non-autonomous pension funds mainly refer to the book reserve system, normally managed as a secondary activity by the employer. This system enables the employer to maintain reserves (= technical provisions) and investments which are sometimes earmarked from other assets or liabilities even though such funds do not constitute separate institutional units from the employers. The amount of these provisions to be set aside for future pension benefits is computed by actuarial methods that are often subject of detailed regulation. To a limited extent, Member States shall collect, compile and transmit data for enterprises which, according to their main activity, are not classified in NACE Rev.1 class 66.02, but which nevertheless carry out significant pension funds activities as non-autonomous pension funds.