In a recent case the Insurance Court found that the debiting of extra premiums, performed by a pension fund after it went into liquidation, was not in line with the Insurance Fund Act. The court confirmed that, in principle, the liquidated pension fund was entitled to collect the premiums in order to meet the solvency requirements, but it set out some requirements for the collection, e.g. that the transfer of the insurance portfolio first required the realisation of the fund’s assets.
Partner Matti Komonen from HPP Attorneys Ltd, has written an article on this matter. The update titled “Liquidated pension fund had no right to collect extra premiums” has been published in the International Law Office’s newsletter.