SAC Code 997131 - pension services
- The first two digits of the SAC code are 99 which represents all services.
- The first four digits of the SAC code are 9971 which represent the services that come under the heading, Financial and related services.
- The complete six digit SAC code 997131 is used for pension services.
Additional Notes on the SAC code 997131
pension services This service code includes: - underwriting services of annuities, i.e. plans which provide income payments at regular intervals .Plans may require a single contribution or a series of contributions ; may be compulsory or optional; may have nominal benefits determined in advance or dependent on the market value of aspects supporting the plan; and, if related to employment, may or may not be portable with a change in employment. The duration of the per iod during which benefits are paid may be fixed in terms of a minimum or maximum; there may or may not be survivors' benefits. - underwriting services of plans which provide income payments at regular intervals to members of groups. Plans may re quire a single contribution or a series of contributions; may be compulsory or optional; may have nominal benefits determined in advance or dependent on the market value of assets supporting the plan; and, if related to employment, may or may not be portab le with a change in employment. The duration of the period during which benefits are paid may be fixed in terms of a minimum or maximum; there may or may not be survivors' benefits. This service code does not include: - portfolio management service s (exc ept pension funds), cf.99 7153 - trust services, cf. 997154 - pension fund management services, cf. 997164 - pension fund administration, cf. 997169
This SAC code comes under the SAC heading - 9971 - Financial and related services
This heading contains the following SAC Codes -
| SAC Code | Description |
|---|---|
| 997111 | Central banking services |
| 997112 | Deposit services |
| 997113 | Credit-granting services including stand-by commitment, guarantees & securities |
| 997114 | Financial leasing services |
| 997119 | Other financial services (except investment banking, insurance services and pension services) |
| 997120 | Investment banking services |
| 997131 | pension services |
| 997132 | Life insurance services (excluding reinsurance services) |
| 997133 | Accident and health insurance services |
| 997134 | Motor vehicle insurance services |
| 997135 | Marine, aviation, and other transport insurance services |
| 997136 | Freight insurance services & Travel insurance services |
| 997137 | Other property insurance services |
| 997139 | Other non-life insurance services (excluding reinsurance services) |
| 997141 | Life reinsurance services |
| 997142 | Accident and health reinsurance services |
| 997143 | Motor vehicle reinsurance services |
| 997144 | Marine, aviation and other transport reinsurance ser |
| 997145 | services |
| 997146 | Freight reinsurance services |
| 997147 | Other property reinsurance services |
| 997149 | Other non-life reinsurance services |
| 997151 | Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services |
| 997152 | Brokerage and related securities and commodities services including commodity exchange services |
| 997153 | Portfolio management services except pension funds |
| 997154 | Trust and custody services |
| 997155 | Services related to the administration of financial markets |
| 997156 | Financial consultancy services |
| 997157 | Foreign exchange services |
| 997158 | Financial transactions processing and clearing house services |
| 997159 | Other services auxiliary to financial services |
| 997161 | Insurance brokerage and agency services |
| 997162 | Insurance claims adjustment services |
| 997163 | Actuarial services |
| 997164 | Pension fund management services |
| 997169 | Other services auxiliary to insurance and pensions |
| 997171 | Services of holding equity of subsidiary companies |
| 997172 | Services of holding securities and other assets of trusts and funds and similar financial entities |