DNB, in collaboration with the pension sector, has introduced a process for partial assessment, allowing pension funds to submit specific parts of their entry decision for early review to DNB. The purpose of partial assessments is to provide clarity to pension funds on completed subtopics before the entry notification, contributing to an efficient transition process.
The assessment for the final entry notification is based on the outcomes of any earlier partial assessments, unless the fund has made subsequent changes. The purpose is to streamline the transition process to the new pension system by providing clarity on completed subtopics. This minimizes the risk of issues arising later in the process. DNB encourages pension funds to utilize partial assessments and provides detailed information in a factsheet.
From 1 July 2023, pension funds can submit their entry decisions to DNB, with the option of a partial assessment before the full entry notification. DNB assesses compliance with the Future Pensions Act, relying on outcomes from earlier partial assessments unless subsequent changes are made. The process aims to spread DNB’s workload, and completion within six weeks is targeted. Three subtopics eligible for partial assessment are risk attitude, pension scheme structure, and data quality. The actual duration depends on documentation quality, potential requests for information, and DNB’s workload.