Statutory reporting for PPIs

This post discusses statutory reporting for Premium Pension Institutions (PPIs) and the services Addition Knowledge House provides to support the PPI reporting process. A Premium Pension Institution (PPI) is a pension administrator in the Netherlands, which administers pension schemes and accumulates pension assets, but does not itself bear the risks (e.g. death, disability and “living longer than statistically expected”).

In the Dutch market, the PPI focuses on the implementation of collective defined contribution schemes, supplementary to the state pension. The characteristic of collective defined contribution schemes with individual investment choices is that the pension capital to be built up depends partly on the result of the chosen investments. The benefits that take effect from the retirement date depend on interest rates.

The PPI offers the possibility of enabling the execution of pension plans across borders. For companies with offices in multiple countries, this offers the opportunity to centralize implementation.

PPI Reports

In order to maintain the PPI scheme, the Dutch Central Bank has prepared an extensive set of reports. Market participants must report regularly on their financial position. On December 18, 2018, DNB published version 1.0.3 of the XBRL taxonomy of PPI reports for premium pension institutions.

DEX Data Explorers has now incorporated PPI reporting into DEX Regulatory Suite. Addition Knowledge House provides business process outsourcing services for PPI using DEX Regulatory Suite.

DEX Regulatory Suite for PPIs

DEX Data Explorers offers to support the PPI process DEX Regulatory Suite for PPI. DEX RS generates legal reports using the DNB specifications.

DNB has published a data point model with all definitions of the PPI reports. A data point model is a database that contains all the necessary information to generate the reports. DEX RS uses the information in the data point model to generate the reports, validate the outcomes with the DNB validation rules and generate the XBRL interfaces. Since the reports are generated according to the DNB standards, the reports are always compliant and meet the latest standards.

Below is an example of a PPI report generated by DEX RS.

DEX Data Explorers maintains report definitions according to regulatory standards. When the standards are updated, you as the customer will receive an update of the reporting definitions.

DEX Regulatory Suite provides the following functionality:

• Reports generated according to the latest standards
• Analysis tools for mapping proprietary data sets to the DNB PPI model
• Validation of the data according to the validation rules defined by DNB; this gives you the possibility to validate the reports before sending them
• XBRL generation according to the standards of DNB
• Processing of feedback from DNB
• Automatically generated documentation
• Workflow support

Workflow support

DEX RS functionality is integrated with workflow systems. Users are guided through the regulatory process; manual steps are integrated with automated steps. All actions are logged.

Design your own reports

In addition to providing the required regulatory reports, DEX RS offers you the ability to design your own reports. In this way, you can reuse the data you use for legal reports for internal reports, for example.

Available Solutions

DEX Regulatory Suite supports the following regulations:

• CRD iv (COREP, FINREP, Funding Plans, Asset Encumbrance, Supervisory Benchmarking Portfolio)
• AnaCredit
• Residential Real Estate
• Deposit Guarantee Scheme
• MIFID ii
• SFTR
• Socioeconomic Reports
• Digital Reporting (DRA).
• Solvency
• IORP ii
• Country Risk
• Financial assessment framework (FTK)
• Premium pension institutions (PPIs).
• Fiscal Reporting (VIA, Fatca)

Addition Knowledge House and DEX Regulatory Suite

Addition Knowledge House(www.addition.nu) is a reseller of DEX Regulatory Suite. Addition Knowledge House offers the following services related to DEX Regulatory Suite:

• Support for implementation
• Support
• Business Process Outsourcing

Addition Knowledge House offers the opportunity to outsource large portions of the PPI process. Addition can offer the following services with DEX RS:

• Gathering the information from investment managers
• Sending information to the actuary and receiving information from the actuary
• Generation of PPI reports and distribution to interested parties
• Creation of the XBRL and sending it to the regulator

Each situation is unique. Addition Knowledge House is happy to discuss how we can best support your process.