On Nov. 29, RUS CB issued requirements for non-state pension funds.
RUS CB published ord 6903-U on the requirements for a non-state pension fund (NPF) that carries out activities on non-state pension provision and the formation of long-term savings and is registered in the system of guaranteeing the rights of participants in non-state pension funds, to which funds of guaranteed compensation and the obligation to pay non-state pensions and/or make periodic payments under long-term savings agreements may be transferred.
The ord establishes new requirements for non-state pension funds to which guaranteed compensation funds and the obligation to pay non-state pensions can be transferred.
The NPF must not have grounds for implementing measures to prevent bankruptcy and signs of insolvency over the past 2 years, and grounds impose a ban on its operations.
Requirements for size of reserves, the number of participants, and requirements for the reliability of the actuarial report and financial statements are specified by the ord.
Effectiveness
The ord enters into force on Jan. 1, 2025, except for para 2-7 of the ord which enters into force on Jan. 1, 2028.
