Chapter 6: Functional Specifications
This chapter contains the detailed functional specifications.
This chapter contains the functional specifications:
- Data Dictionary
- Base Message
- Cross-reference: Base Message & Messages
6.1 Data Dictionary
An overview of all entities and their purpose. This section will link to detailed pages or files for each entity.
| Entity.entitytype |
|---|
| commonTechnical.default |
| party.sender |
| party.contact |
| party.receiver |
| commonFunctional.default |
| party.pensionProvider |
| pension.scheme |
| financialInformation.reportingPeriod |
| financialTransaction.payment |
| party.creditor |
| financialTransaction.cashflow |
| financialTransaction.expectedPayment |
| pension.cohort |
| pension.cohortPool |
| investment.pool |
| investment.portfolio |
| investment.investmentDetails |
| financialTransaction.trade |
| error.default |
| document.default |
| investment.corporateAction |
| chunking.default |
6.2 Entity Types
This section describes the various entities and the attributes within those entities.
Below is an explanation of the entities. This information is derived from AFD 2.0, which can be consulted via this link.
Note: The entity type is mandatory.
| Entity.entitytype | Description |
|---|---|
commonTechnical.default |
This entity contains technical details about sending and storing messages. It forms the basis for the technical aspects within the messaging system. |
party.sender |
The "party.sender" entity refers to the sender of the message. |
party.contact |
The "party.contact" entity represents a contact person within a legal entity. |
party.receiver |
This entity represents the recipient of the message. |
commonFunctional.default |
This entity contains domain-specific information about the content of the message. |
party.pensionProvider |
This entity represents a pension provider (pension fund, insurer, or PPI). |
pension.scheme |
This entity contains data at the level of the pension scheme or plan. |
financialInformation.reportingPeriod |
This entity relates to reporting periods, time intervals, and other generic dates. |
financialTransaction.payment |
This entity/entity type combination contains data about a payment. |
party.creditor |
This entity represents the creditor; the recipient of the payments. |
financialTransaction.cashflow |
This entity deals with financial transactions related to pensions, specifically focusing on cash flows. |
financialTransaction.expectedPayment |
This entity contains information about projected future cash flows/payments. |
pension.cohort |
This entity contains information about specific target groups (cohorts) within the pension scheme. |
pension.cohortPool |
The pooled combination of investment pools for a cohort. Investments in a cohort pool are made for a group of participants with a similar investment allocation. |
investment.pool |
This entity (investment pool) represents collections of underlying investments (liquid, illiquid, funds, mandates). |
investment.portfolio |
This entity relates to investment portfolios, which represent the total managed assets (or a sub-portfolio). |
investment.investmentDetails |
This entity describes individual investments of a pension provider. |
investment.corporateAction |
This entity contains data about corporate action events on investment products, such as cash dividend, stock dividend, rebate, unit and capital shifts and product changes. The message is intended for communicating such events from the asset management chain to the PUO. |
financialTransaction.trade |
This entity relates to trading activities within the pension scheme. |
error.default |
In case of errors, this entity is used to generate error messages. |
document.default |
This entity is intended for adding any attachments to messages. |
chunking.default |
This entity contains metadata for splitting and merging large messages into sub-messages (chunking). If present, it indicates that the message is part of a larger logical message. |
6.3 Attributes in Entities.Entity Types
The tables in this section detail the attributes per entity/entity type combination. Each entry includes the attribute's name, definition, data type, max length, and a link to any code list.
Note: Attribute descriptions in the feedback message may differ from those in the 14 content messages.
Data type descriptions are available in the SIVI All-Finance Standard manual.
Interpretation rules:
string: Max length is specified unless a code list applies (then 'length' is empty).decimal: Defaults to 2 decimal places. Deviations are specified in the data type column.
Attribute names have been aligned with AFD 2.0 conventions and differ from the consultation document. See Appendix 8.4 for the translation table.
Use of refKey
In the tables below, nearly every entity has the attribute refKey. This attribute serves as the unique identifier of an entity. The purpose is that an entity can be reliably recognized and referenced within or between messages and files — much like an ISIN identifies an investment instrument without saying anything about the investment policy that applies to it.
refKey may be technically or functionally recognizable, but no classification, investment policy, or business logic should be derived from it. The substantive classification belongs in the designated fields (e.g. reserveType).
See GitHub issue #111.
commonTechnical.default
The commonTechnical entity covers all information about sending or storing the message. This is typically technical information.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
messageId |
Unique message identification | string | 70 | |
creationDateTime |
Creation date and time | timestamp | ||
testMessage |
Test message indicator | boolean |
Uniqueness of messageId
The messageId is always unique across all messages, regardless of message type or period. Using messageId for grouping or bundling messages is not allowed. Any relationship between messages is derived from substantive characteristics, such as the period to which the message pertains.
The only exception is chunking (§7.6): chunks of the same logical message share the same messageId.
See GitHub issue #108.
party.sender
Sender of the message.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Unique reference key assigned to an entity. | string | 70 | |
rsinNumber |
Governmental identification number for legal entities (RSIN). | string | 9 | |
organizationName |
Organization name of the sender. | string | 60 | |
applicationSenderName |
Name of the application that created the message.* | string | 60 |
* applicationSenderName is available in AFD 2.0 under both party.sender and commonTechnical. This is not apparent from the AFD 2.0 Online documentation (as of April 2024). For VB-PUO, the attribute has been placed under party.sender.
party.contact
A natural person who can be contacted within a legal entity for further information.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
emailWork |
Work email address | string | 60 | |
workPhoneNumber |
Work phone number | string | 60 |
party.receiver
Receiver of the message.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Unique reference key assigned to an entity. | string | 70 | |
rsinNumber |
Governmental identification number for legal entities (RSIN). | string | 9 | |
organizationName |
Name of the recipient organization(s). | string | 60 |
commonFunctional.default
The commonFunctional entity covers all information about the content of the message. This is typically domain-specific information.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
function |
Message function code. | string | ADNFUN | |
statusType |
Status of the original message processing (Accepted or Rejected). | string | ADNSTS | |
afdDefinitionName |
Type of message, name of the message. | string | 80 | |
afdDefinitionVersion |
Version of the afdDefinition of the message. See section 7.5.1 for details. |
string | 80 | |
originalMessageId |
The original messageId of the message being replaced or being responded to. |
string | 70 | |
originalMessageType |
Message type of the original request to which this message is a response. E.g. 0001a, 0001b, etc. |
string | 0001a; 0001b; 0001c; 00002; 00541; 00542; 00551; 00552a; 00552b; 00553; 00554; 00555a; 00555b; 00556 |
party.pensionProvider
Information on the Pension Provider level (Pension Fund, Insurer, PPI, APF).
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
puvCode |
ID of the pension provider (PUV-code). | string | AFDIDP | |
rsinNumber |
Governmental identification number for legal entities (RSIN). | integer | 9 | |
organizationName |
Name of the pension provider. | string | 60 |
For APFs (general pension funds) with multiple circles ("kringen"), there are two common scenarios for the use of PUV codes. See the explanation in the base message in §6.4.1.
pension.scheme
Data on the pension scheme level.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the pension scheme. | string | 70 | |
pensionSchemeName |
Name of the pension scheme. | string | 60 | |
StartAmount |
Total pension assets as of the start date. | decimal | ||
tradingPortfolioId |
Portfolio ID of the custodian. | string | 10 |
financialInformation.reportingPeriod
Reporting period information.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
startDate |
Start date of the data period or reference date. | date | ||
endDate |
End date of the data period. | date | ||
tradeDate |
Desired trade date. | date | ||
investmentOrderSettlementDate |
Date by which the investment order cycle must be settled. | date | ||
mutationValuationDate |
Date for processing mutations per age group. | date | ||
projectionDate |
Date of the pension benefit projection. | date | ||
instructionDate |
Date of the instruction sent by the PUO. | date | ||
unitValueEstimationDate |
Date on which the preliminary unit value (investment pool) was determined. | date | ||
participationValuationDate |
Pricing date of the participation value (cohort pool). | date | ||
positionDate |
Date on which the positions in the investment administration were established. | date | ||
valueDate |
Currency date. | date |
Date conventions for startDate and projectionDate
To prevent inconsistent use of dates between chain parties, the standard applies the following convention:
| Field | Message | Convention | Example |
|---|---|---|---|
| startDate | Message 1 (Capital) | Last day of the preceding month | 31-01-2025 |
| projectionDate | Message 3 (Pension projection) | Last day of the preceding month | 31-01-2025 |
| firstExpectedPaymentDate | Message 3 (Pension projection) | First day of the current month | 01-02-2025 |
This approach provides clarity and predictability in the chain. See GitHub issue #94.
financialTransaction.payment
Information about payments.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the expected payment. | string | 70 | |
amount |
Amount in currency / projected benefit. | decimal | ||
currencyType |
Currency code. | string | ISOVAL | |
collectionAccountIban |
IBAN of the debit account. | string | 34 | |
description |
Description of the transaction (payment). | string | 60 | |
expectedPensionPaymentDate |
Pension payment date. | date | ||
hedgedExpectedPensionPaymentAmount |
Cash flow to be hedged. | decimal |
Field length collectionAccountIban corrected from 10 to 34 (international IBAN maximum length per ISO 13616). See GitHub issue #135.
party.creditor
The party that has a claim.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Unique reference key assigned to an entity. | string | 70 | |
collectionAccountIban |
IBAN of the credit account per scheme. | string | 34 | |
collectionAccountInNameOf |
Name of the counterparty per scheme. | string | 60 | |
collectionAccountBic |
Business Identifier Code (BIC) per scheme. | string | 10 | |
collectionAccountBicCorrespondent |
BIC correspondent per scheme. | string | 10 |
Field length collectionAccountIban corrected from 10 to 34. See GitHub issue #135.
financialTransaction.cashflow
The sum of contributions and withdrawals on all cohorts.*
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
contributionAmount |
Sum of contributions. | decimal | ||
contributionDate |
Date of receipt of the contribution. | date | ||
withdrawalAmount |
Sum of withdrawals. | decimal | ||
withdrawalDate |
Date by which funds for withdrawal are available. | date | ||
netAmount |
Net sum of contributions and withdrawals. | decimal | ||
netDate |
Date on which the net cash flow is actually paid. | date |
*Note: The amount and date fields in financialTransaction.cashflow are optional. At least one pair must be used.
Field usage in financialTransaction.cashflow
In the SPR context, financialTransaction.cashflow is used directly under pension.scheme; the amount and date fields are optional. Parties coordinate which amount/date combinations they use; in the JSON schema all fields are optional. When using the entity, at least one combination must be filled.
In the FPR context, the financialTransaction.cashflow entity is used under investment.portfolio, and netAmount and netDate are required.
pension.cohort
Information on cohort (pension target audience) level.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the cohort. | string | 70 | |
description |
Description of the cohort. | string | 60 | |
participationStatus |
Status of the participants in a cohort. | string | ADNDNS | |
startAge |
Start age in months. | integer | ||
endAge |
End age in months. | integer | ||
reserveIndicator |
Indicates if the cohort represents a reserve. | boolean | ||
reserveType |
Type of reserve. | string | AFDRES | |
reserveDescription |
Description for "Other" reserve type. | string | 60 | |
startAmount |
Pension assets of the cohort at the start date. | decimal | ||
netAmount |
Net sum of contributions and withdrawals per cohort. | decimal | ||
netDate |
Settlement date on which the net cash flow for the cohort is actually paid by or received from the asset manager. | date | ||
contributionAmount |
Inflow to be invested by the fiduciary manager. | decimal | ||
withdrawalAmount |
Outflow to be invested by the fiduciary manager. | decimal | ||
protectionReturnPercentage |
Achieved protection return as a percentage. | Decimal (1E-12) | ||
excessReturnPercentage |
Achieved excess return as a percentage. | Decimal (1E-12) | ||
protectionReturnAmount |
Achieved protection return in currency. | decimal | ||
excessReturnAmount |
Achieved excess return in currency. | decimal |
Age cohorts: standard setup
The standard setup uses yearly age cohorts. This means that two consecutive startAge values differ by 12 months in principle: startAge is a multiple of 12 (0, 12, 24, ...) and endAge = startAge + 11. Smaller steps (e.g. monthly) are not excluded, but the yearly division serves as the reference model. See GitHub issue #111.
Reserves and provisions: role of fields
For cohorts representing a reserve or provision (reserveIndicator = true), the following role assignment applies:
reserveType(code list AFDRES) is the substantive classification and the exclusive key for the investment policy. Reserves or provisions with a different investment policy require a differentreserveTypevalue. The code list has been extended in release 2027 with codes 9 through 15. Where investment policy is shared, consolidation is possible; an explicit code is only needed for separate investment policies. This applies to both SPR and FPR. See GitHub issue #134.reserveDescriptionis purely descriptive. The description may clarify or elaborate, but does not determine classification, routing, or investment policy.refKeyuniquely identifies the cohort (see the general explanation ofrefKeyabove). Multiple cohorts with the samereserveTypeare permitted, provided they fall under the same investment policy.
See GitHub issue #111.
pension.cohortPool
The pooled combination of investments (investment pools) for a cohort.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the cohort pool. | string | 70 | |
cohortRef |
Reference to the cohort this pool belongs to. | string | 70 | |
description |
Description. | string | 60 | |
currencyType |
Currency of the cohort data. | string | ISOVAL | |
inflowPremiumAmount |
Premium contribution per cohort pool. | decimal | ||
inflowRebalanceAmount |
Cash amount of rebalance transactions per cohort pool. | decimal | ||
numberOfNewParticipations |
New participations to be issued in the cohort pool. | decimal | ||
numberOfParticipations |
Number of outstanding units (participations). | decimal | ||
numberOfRebalanceParticipations |
Rebalance participations per cohort pool. | decimal | ||
participationsSummedValueAmount |
Value per cohort pool (sum of participation value). | decimal |
investment.pool
Investment pool / investment portfolio.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the investment pool per scheme. | string | 70 | |
description |
Description. | string | 60 | |
unitsSummedValueAmount |
Value per investment pool (unit value). | decimal | ||
preliminaryUnitValueAmount |
Net asset value (NAV) per unit of the investment pool, as determined by the investment administrator. | decimal (1E-06) | ||
numberOfUnits |
Number of units issued for the investment pool. | decimal (1E-06) | ||
currencyType |
Currency of the pool. | string | ISOVAL | |
buySellId |
Buy/Sell indicator. | string | sell; buy | |
tradeValueAmount |
Trade value per investment pool per scheme (summed across cohorts). | decimal |
marketValueAmount has been removed from the standard as of release 2027; the net asset value is expressed exclusively via preliminaryUnitValueAmount. The field name preliminary is historically grown and will be cleaned up in a future release. See GitHub issue #128.
investment.portfolio
Investment portfolio.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
ID of the Investment Portfolio. | string | 70 | |
description |
Description. | string | 60 | |
startAmount |
Total Market Value at the start of the period. | decimal | ||
netAmount |
Net sum of contributions and withdrawals. | decimal | ||
endAmount |
Total Market Value at the end of the period. | decimal | ||
returnPercentage |
Achieved return as a percentage. | Decimal (1E-12) | ||
returnAmount |
Achieved return in currency. | decimal | ||
startExposureAmount |
Allocation of pension assets to this portfolio. | decimal | ||
startExposurePercentage |
Relative share of startExposureAmount. |
decimal |
investment.investmentDetails
An investment in either liquid or illiquid funds or pools thereof.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Identifier (e.g., ISIN or internal code). | string | 70 | |
description |
Name of the investment/fund/instrument. | string | 60 | |
currencyType |
Currency of the instrument. | string | ISOVAL | |
numberOfUnits |
Number of purchased units per instrument. | decimal | ||
numberOfHoldings |
Number of holdings per instrument. | decimal | ||
localPrice |
Price per instrument in original currency. | decimal | ||
localValueAmount |
Total market value in original currency. | decimal | ||
Result |
Unrealized result per instrument. | decimal | ||
accruedInterest |
Accrued interest per instrument. | decimal | ||
poolPercentage |
Weight in the portfolio per instrument. | decimal | ||
currencyExchangeRate |
FX rate per instrument. | decimal |
financialTransaction.trade
Trading/ordering; Buying and selling.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
tradeDate |
Actual trade date. | date | ||
refKey |
Unique reference key assigned to an entity. | string | 70 | |
adjustmentIndicator |
Adjusted trade instruction. | boolean | 1 | |
buySellId |
Buy/Sell/Switch direction indicator. | string | sell; buy; switchfrom; switchto | |
tradeAmount |
Amount of the purchase in the investment's currency. | decimal | ||
tradeQuantity |
Number of units to be traded. | decimal | ||
tradePrice |
Purchase price/rate. | decimal | ||
switchType |
Type of switch; one-day or sequential. | string | sequential, one-day | |
financialInformationRef |
On a switch, reference to the target identifier. | string | ||
Counterparty |
Transfer Agent; the party executing the trade. | string | 70 | |
Broker |
Broker executing investment orders. | string | 70 | |
interestAmount |
Amount of applicable interest. | decimal | ||
commissionAmount |
Fee for executing the transaction. | decimal | ||
clearingBroker |
Broker responsible for settlement. | string | 70 | |
clearingBrokerCashAccount |
Cash account (IBAN) at the clearing broker. | string | 18 |
error.default
Error message.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Unique reference key assigned to an entity. | string | 70 | |
errorCode |
Error code type. | string | ADNFTM | |
errorCodeExplanation |
Explanation of the error message. | string | 1000 |
See also the information about error.default in the SIVI All-Finance Standard.
document.default
Information about an attachment/document.
| Attribute Name | Definition | Data Type | Length | Optional |
|---|---|---|---|---|
refKey |
Unique reference key assigned to an entity. | string | 70 | |
fileName |
Name of the file for the attachment. | string | 60 | |
fileExtension |
Extension of the file (e.g., pdf, csv, txt). | string | 10 | pdf;csv;txt |
investment.corporateAction
Corporate action events on investment products.
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
refKey |
Key of the corporate action. | string | 70 | |
description |
Description of the corporate action. | string | 60 | |
corporateActionType |
Type of corporate action. | string | AFDCAE (cashDividend; productChange; rebate; stockDividend) | |
instructionDate |
Instruction date of the corporate action. | date | ||
tradeDate |
Transaction date of the corporate action. | date | ||
paymentDate |
Payment date of the corporate action. | date | ||
cashDividendTotalAmount |
Total cash amount of the corporate action. | decimal | ||
cashDividendPerUnitAmount |
Cash amount per unit. | decimal | ||
currencyType |
Currency of the cash amount. | string | 3 | ISOVAL |
stockDividendPerUnitNumber |
Number of stock dividend per unit. | decimal | ||
stockDividendTotalNumber |
Total number of stock dividend. | decimal | ||
newProductName |
Name of the new product. | string | 60 | |
newProductIdentifier |
Identifier of the new product. | string | 60 |
chunking.default
Metadata for splitting and merging large messages into sub-messages (chunking).
| Attribute Name | Definition | Data Type | Length | Code List |
|---|---|---|---|---|
currentChunkId |
Unique reference (id) of the current chunk. | string | 70 | |
chunkSequenceNumber |
Sequence number of the current chunk. | integer | ||
totalNumberOfChunks |
Total number of chunks the message is split into. | integer | ||
chunkFragmentPaths |
Array of JMESPath references to the message fragments. | array |
6.3.1 Consistency checks for the cashflow message (0001b)
Structural rule: SPR route and FPR route are mutually exclusive
Per pension.scheme, exactly one cashflow pattern applies:
- SPR route — the cashflow is included directly under
pension.schemeasfinancialTransaction.cashflow, with optional breakdown viapension.cohort. - FPR route — the cashflow is included per investment portfolio via
pension.scheme → investment.portfolio → financialTransaction.cashflow.
Within a single pension.scheme, the following exclusion rules apply:
- Presence of
investment.portfolio→financialTransaction.cashflowis not filled directly underpension.scheme. - Presence of
pension.cohort→investment.portfoliomay not be used.
This rule is a formal consistency check: a message that combines both routes or applies neither is invalid.
Sum checks for cohort breakdown (SPR route)
When pension.cohort is used in the SPR route as a breakdown of the cashflow at scheme level, the detail amounts must reconcile with the total. This is a reconciliation check: verifying that the sum of the individual cohort amounts matches the previously reported amount at the cohort-scheme level — i.e., the parts add up to the whole.
scheme.netAmount = sum(cohort.netAmount)scheme.contributionAmount = sum(cohort.contributionAmount)scheme.withdrawalAmount = sum(cohort.withdrawalAmount)
These sum checks apply to the SPR route and not automatically to the FPR route. In the FPR model, cashflows are recorded per investment portfolio without a hierarchy from scheme to cohort level; the sum relationship is not definable there. Apply these checks exclusively when totals and underlying breakdowns are simultaneously present.
Open item (AOS)
The formal processing of M002-0001b-001 in SIVI AOS has not yet been finalized. The consistency checks have been functionally established; technical implementation will follow in a separate step.
6.4 Messages
The data exchange described in this document is supported by a set of messages, supplemented by a feedback message. From release 2027, 10 content messages and the Feedback Message are active; 5 messages from the FPR layered order model have been discontinued (see §4.5).
Below (in Figure 12) is an overview of the messages and the roles (sender/receiver) involved.
| Message Name | PUO | FM | BA | LDI |
|---|---|---|---|---|
| 1. Vermogen (0001a) | from | to | ||
| 2. Cashflow (0001b) | from | to | ||
| 3. Pensioenprojectie (0001c) | from | to | to | |
| 4. Rendementsinformatie (00002) | to | from | ||
| 5. Orderopdracht (00541) | from | to | ||
| 6. Orderconfirmation (00542) | to | from | ||
| 10. Stuurinformatiebeleggingspools (00553) | to | from | ||
| 13. Waarde-informatie beleggingspool (00555b) | to | from | ||
| 14. Betaalinformatie (00556) | from | to | from | |
| 15. Corporate Actions (00557) | to | from | from | |
| Feedback Message |
The Feedback Message can be used for both FPR and SPR and is always a response to a received message; one of the other messages.
Messages 7, 8, 9, 11 and 12 have been discontinued from release 2027. See GitHub issues #99, #119, #121.
Legend for the roles:
- PUO: Pension Administration Organizations — this also covers Self-Administering Funds (ZAF)
- FM: Fiduciary Managers
- BA: Investment Administrators / Asset Service Provider
- LDI: Liability-Driven Investment Managers
Discontinued roles:
- ACB: Administrators of Cohort and Investment Pools — discontinued as a separate actor. In practice this role is fulfilled by the BA, or sometimes by the PUO. Because the ACB role no longer appeared as a separate party as of July 2026, the column has been removed from the matrix. Should the ACB role act as an explicit party again in the future, the message schema still allows for it. See GitHub issue #131.
- BR: Brokers / Transfer Agents — no longer appears in the release 2027 matrix; messages 5 and 6 now go via the BA.
Note: Each receiving party receives its information directly from the sending party.
Note: Each receiving party/role gets its information directly from the sending party. In addition to the parties/roles mentioned in Figure 12, messages can also be sent to other parties, such as Liability-Driven Investment managers (LDIs). The transmission to unmentioned parties/roles is also direct. Received information is not forwarded to other parties.
The table below lists the message types and their meaning. In parentheses is the reference to the working group's final report: "Final Report Research Standard VB PUO (September 2023.pdf)".
- PMT =
pensionMessageTypein AFD 2.0 (the descriptions of the message types are provided). - TAG = The identifier used for the message in the API.
| Type | Message Type | PMT/TAG | Description |
|---|---|---|---|
| SPR | 1a (4.2.1.1) | Capital | From PUO to Fiduciary Manager & Investment Administrator. On a periodic (expected monthly) basis, the fiduciary manager receives the total pension assets at the start of the period for a scheme. This can also be provided per cohort. With this information, the fiduciary manager can check alignment with the fund's policy and rebalance if necessary. |
| SPR | 1b (4.2.1.3) | Cashflow | From PUO to Fiduciary Manager & Investment Administrator. Periodically, the fiduciary manager receives the inflow and outflow for a scheme. This can be provided at a total level and per cohort. The cash flow includes premiums, value transfers, benefits, and shifts between cohorts. |
| SPR | 1c (4.2.1.3) | PensionProjection | From PUO to Fiduciary Manager & Investment Administrator. Periodically, the fiduciary manager receives the projected benefits per scheme and cohort based on the accrued assets. It also includes the cash flows to be hedged per scheme, calculated as the sum of weighted projected benefits per cohort. |
| SPR | 2 (4.2.2.) | ReturnOnInvestment | From Investment Administrator to PUO. The PUO periodically receives information about the achieved investment return, including start and end values and the return percentage per portfolio. This is necessary for the PUO to allocate returns to participants, the solidarity reserve, etc. |
| FPR | 541 (5.4.1.) | Trade | From PUO to Brokers/Transfer Agents/Order Desks. This message contains the minimum data set required to send an order or a switch to an order processing party. The PUO submits orders at the investment fund level. |
| FPR | 542 (5.4.2.) | Orderconfirmation | From Brokers/Transfer Agents/Order Desks to PUO. The confirmation details of the order are returned from the order processing party to the PUO. |
| FPR | 551 (5.5.1) | BalanceAdjustments | From PUO to Administrator of Cohort & Investment Pools. This first monthly information flow concerns netted mutations (purchases, sales, switches) per cohort pool. The administrator uses this to calculate cash flows for the investment pools and instruct the fiduciary manager. |
| FPR | 552a (5.5.2) | InvestmentDetails | Between Administrator, Fiduciary Manager, and Investment Administrator. The administrator receives monthly positions from the investment administrator and reconciles them with their own administration. |
| FPR | 552b (5.5.2) | InvestmentDetailsPUO | From Investment Pool Administrator to PUO. Additional information needed when the PUO also acts as the cohort pool administrator. This message provides the preliminary unit values of the investment pools to the PUO. |
| FPR | 553 (5.5.3) | ControlInformationInvestmentPools | From Administrator to Fiduciary Manager. The administrator calculates participation values and combines them with mutations to estimate the cash effects on the investment pools. These effects are then sent to the fiduciary manager. |
| FPR | 554 (5.5.4) | RebalancingDetails | From Administrator to Fiduciary Manager. The administrator rebalances the relevant cohorts based on the unit values at time T and sends all month-end transactions to the fiduciary manager. |
| FPR | 555a (5.5.5) | ValueAmountCohortPool | From PUO to Fiduciary Manager (when PUO administers cohort pools). The administrator (or PUO, if applicable) calculates and distributes the participation values of the cohort pools. |
| FPR | 555b (5.5.5) | ValueAmountInvestmentPool | Between Investment Administrator, Administrator, Fiduciary Manager, and PUO. The administrator calculates the unit value per unit in the investment pool and the participation value per participation in the cohort pool and distributes them to the PUO and fiduciary. |
| FPR | 556 (5.5.6) | PaymentDetailsCreditor | From Administrator to Fiduciary Manager. At the beginning of the month, the administrator sends the payment instruction for withdrawals to the fiduciary manager. |
| FPR | 557 | CorporateAction | From the asset management chain to PUO. Communicates corporate action events (cash dividend, rebate, unit/capital shifts, product changes) on investment products to the PUO. Enables the PUO to keep its administration synchronized with the asset management administration. |
| SPR/FPR | Feedback | Feedback | From the recipient of a content message to the original sender. Provides feedback on errors or confirms the processability of a message. |
Unlike the Dutch manual, this documentation references the MessageStructureView folders on GitHub to illustrate the structure of each message. For example, the structure for Message 11 can be viewed here.
Below is a diagram depicting the structure of Message 11:
/MessageStructureView/20250630_083428-00554.svg)
These diagrams clearly visualize the relationships between entities. For detailed text-based specifications, please refer to the original Dutch manual.
6.5 Cross-Reference Attributes & Messages
please refer to the original Dutch manual.