Solidarity premium arrangement (SPR)

The monthly cycle of the solidarity premium arrangement: four information flows together

In the SPR the PUO and the asset-management chain exchange four messages every month. Three go from the PUO to the fiduciary and the investment administrator (capital, cashflow, pension projection); one comes back (return information). Together they close the period: opening position plus flows plus return equals closing position.

Steps

Month start (implementation plans: T+10 at the latest)PUO → FM and BAMessage 1 Capital: the pension capital at the start of the period per scheme and cohort, optionally with the intended portfolio allocation.0001a
Month start, prospective or retrospectivePUO → FM and BAMessage 2 Cashflow: contributions, benefits, value transfers and reserve mutations per cohort, separate or netted.0001b
Month startPUO → FM, BA and LDI managerMessage 3 Pension projection: the projected payments per cohort and payment date, weighted by the hedging percentage, as the basis for the interest-rate hedge.0001c
After month-end (implementation plans: T+4 at the latest)BA (or FM) → PUOMessage 4 Return information: opening and closing value, flows and return per portfolio, optionally split into protection and excess return per cohort. The PUO allocates according to the allocation rules.00002
On every messageReceiver → senderFeedback message: accepted (8) or rejected (0) with error code; synchronous or asynchronous.feedback

Rules and consistency checks

Fiduciary and investment administrator receive the same messages, directly from the PUO (no forwarding).
The cohort structure is identical across messages 1, 2, 3 and 4.
The standard fixes no hard T-days for the SPR; funds fix them in the Target Operating Model with their chain partners.

Source: Handleiding hoofdstuk 3 (Processen en informatiestromen SPR) en paragraaf 2.4 (uitgangspunten)