Regulatory Alerts2019-01-01
Regulation on the Operation of the Central Insurance Registry and Pension Companies towards Members of Mandatory Pension Funds (NN 60/14, 135/15, 86/18, 56/19 and 91/19)
The Croatian Financial Services Supervisory Agency (Hanfa) and the Central Insurance Registry (REGOS) issue this Regulation to standardize the allocation, reporting, and fund transfer procedures for members of mandatory pension funds. It mandates precise calculation methods for risk-adjusted returns, defines strict timelines for account transfers and contribution payments, and establishes clear reporting obligations to ensure transparency for insured persons and pension companies. The Regulation further details the handling of unlinked payments, management fees, data preservation, and fund closure procedures to guarantee accurate financial flows within the mandatory pension system.
PRAVILNIK O POSTUPANJU SREDIŠNJEG REGISTRA OSIGURANIKA I MIROVINSKIH DRUŠTAVA PREMA ČLANOVIMA OBVEZNIH MIROVINSKIH FONDOVA (NN 60/14, 135/15, 86/18, 56/19, 91/19 - Unofficial Consolidated Text)
Introductory Provisions
Article 1. (NN 91/19) This Regulation prescribes: – the method of allocation and reporting by the Central Insurance Registry (hereinafter: REGOS) regarding insured persons' need to select a pension fund, as well as other procedures and conditions that must be met when selecting a pension fund, – the method for calculating the highest risk-adjusted return for each category of mandatory pension funds in the previous year, and the notification to pension companies and REGOS regarding the calculated return, – the method for calculating the base amount determining the funds transferred to the Central Insurance Registry, the payment account for pension company payments, the method of data delivery from pension companies to REGOS required for fund allocation, deadlines for receiving and allocating funds, and other data necessary for implementing statutory provisions, – the method and deadlines for REGOS to notify a pension fund member about the status and changes on their personal account, as well as other relevant information, and ensuring the availability of said data to the pension company for each member managed by that company, – the method and deadlines for REGOS to receive and publish on its own website the values of accounting units for all pension funds referred to in Article 111, paragraph 8 of the Law, – the method for reporting the death of a pension fund member, – the content of application forms for all cases of members joining a pension fund, and the special application form for changing a pension fund by category used by REGOS, – the method of account transfer and the obligations of the pension company during the