Professionals

31. What is meant by 'social security and socio-economic security'?

Social security and socio-economic security should in the first place be understood to mean an analysis of items related to the four pillars of socio-economic security and the associated taxation (state pension, supplementary occupational pension with tax incentive, individual pension with tax incentive, individual pension and investments without tax incentive).

Depending on the client’s circumstances, other social security aspects (such as the disability and health insurance system) may in a second phase be worth addressing in the financial planning advice. The independent financial planner or the regulated undertaking is responsible for identifying which social and socio‑economic security components are relevant to the client.

However, the independent financial planner or the regulated undertaking are not required to calculate precisely the client’s pension rights or other social security benefits.