On banning to conclude new agreements, transfer pension savings and charge off pension savings accounts

On 3 August 2015, the Bank of Russia imposed a six-month ban on concluding new pension agreements and (or) agreements of mandatory pension insurance against the joint-stock company Non-state Pension Fund Sberegatelny (hereinafter, the Fund) (PSRN: 1157700002129; TIN: 7704305280).

The Fund is also prohibited from transferring pension savings to management companies’ trust management, charging off pension savings accounts except for funds for funded pension payments, payments to individual successors and transfers of maternity (family) capital (part thereof) due to the policy holder’s refusal to accumulate funded pension or in case of policy holder’s death, and from fulfilling obligations on transferring pension savings to other non-governmental pension funds.

The reason to take this decision was the Fund’s failure to meet Bank of Russia instruction on eliminating violations in investing pension savings.

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03.08.2015 00.00.00