Power to issue a statutory instrument

The Federal Ministry of Finance is authorised, in agreement with the Federal Ministry of Labour and Social Affairs, to issue, by statutory instrument, more detailed provisions concerning
1. the determination and adjustment of the lifelong payment,
2. the requirements for risk management, in particular with the aim of limiting the volatility of the level of the lifelong payments,
3. the information duties towards prospective beneficiaries and pension recipients, and
4. reporting to the supervisory authority. The authorisation may be transferred to the Federal Institute by statutory instrument, in agreement with the Federal Ministry of Labour and Social Affairs. Statutory instruments under the first and second sentences do not require the consent of the Bundesrat.