1.

Each Member State shall, in respect of every institution located in its territory, ensure that: the institution is registered in a national register by the competent supervisory authority or authorised; in the case of cross-border activities referred to in Article 20, the register shall also indicate the Member States in which the institution is operating; the institution is effectively run by persons of good repute who must themselves have appropriate professional qualifications and experience or employ advisers with appropriate professional qualifications and experience; properly constituted rules regarding the functioning of any pension scheme operated by the institution have been implemented and members have been adequately informed of these rules; all technical provisions are computed and certified by an actuary or, if not by an actuary, by another specialist in this field, including an auditor, according to national legislation, on the basis of actuarial methods recognised by the competent authorities of the home Member State; where the sponsoring undertaking guarantees the payment of the retirement benefits, it is committed to regular financing; the members are sufficiently informed of the conditions of the pension scheme, in particular concerning: the rights and obligations of the parties involved in the pension scheme; the financial, technical and other risks associated with the pension scheme; the nature and distribution of those risks.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.