Flexible premium arrangement, model 1 (direct order model)

FPR model 1a: the direct order model with market parties

In model 1a the pension provider trades directly in daily tradeable investment funds with market parties. Participant mutations are netted into orders per fund (message 5) and confirmed with message 6. The fiduciary advises on lifecycles and fund selection.

Steps

Daily or per cyclePUOTranslate participant-level mutations into net transactions per investment fund (netting).
OrderPUO → broker / transfer agentMessage 5 Trade instruction with buy, sell or switchfrom/switchto per fund.00541
ExecutionFund providerExecution and any sub-ordering on underlying funds, outside the standard.
ConfirmationBroker / transfer agent → PUOMessage 6 Order confirmation with executed quantities and price; PUO updates the unit administration.00542

Rules and consistency checks

Value administration is optional and can sit with the PUO, investment administrator or custodian.
Collective flows (risk premiums, reserves) use the SPR messages.

Source: Handleiding paragraaf 4.2 en 4.4