FMA Communication 2025/4 regarding the permissibility of remuneration to intermediaries by pension funds published
20.11.25
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Supervision and Regulation
With the entry into force of FMA Communication 2025/4 regarding the permissibility of remuneration to intermediaries by pension funds on 1 January 2026, the FMA will specify the framework conditions for remuneration to insurance intermediaries by Liechtenstein pension funds.
The communication sets out the conditions under which pension funds may remunerate insurance intermediaries. It clarifies that remuneration may only be paid for services that are in the interests of the community of insured persons and therefore of the pension fund. Remuneration for activities relating to employer obligations is not permitted. It will be applied from January 1, 2027.
If you have any questions, please contact the Insurance and Pension Funds Division of the Liechtenstein Financial Market Authority at BPVG@fma-li.li.
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