147. The full amount of discretionary pension benefits must be awarded, in accordance with Article …

The full amount of discretionary pension benefits must be awarded, in accordance with Article 32(3) of Directive (EU) 2019/2034 and subject to the derogation under Article 32(4) of this Directive, in instruments referred to in point (j) of this Article or, where approved by competent authorities, within the alternative arrangements under Article 32(1)(k) and:

• a. where an identified staff member leaves the investment firm before retirement, the investment firm must hold the full amount of discretionary pension benefits at least for a period of five years without the application of pro rata vesting;
• b. where identified staff member reaches retirement, a five-year retention period must be applied to the full amount paid.

1. Overview

1.1 References

• Article 32 3.

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/