On cancelling licence of NPF and appointing provisional administration

By its Order No. OD-3636, dated 17 December 2015, the Bank of Russia cancelled the licence to carry out pension provision and pension insurance of the joint-stock company Non-governmental Pension Fund Uchastie (PSRN: 1145000007745; TIN 5009998696).

This decision was taken following the violation of Federal Law No. 75-FZ, dated 7 May 1998, ‘On Non-governmental Pension Funds’ with regard to unilateral decision-making violating right of policy holders; repeated violations over the past year of requirements to information distribution, provision or disclosure stipulated by federal laws and related regulations of the Russian Federation.

Due to the licence cancellation, by it Order No. OD-3639, dated 17 December 2015, the Bank of Russia appointed a provisional administration to manage the joint-stock company Non-governmental Pension Fund Uchastie.

The Bank of Russia will indemnify pension savings to policy holders in the amount and under procedure stipulated by the Russian law.

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17.12.2015 00.00.00