Regulatory Alerts2018-05-02
Ordinance No. 60 of 02.05.2018 on Requirements for Documents for Issuing a Pension License and Authorization for Managing a Pension Fund
The Commission for Financial Supervision issued Ordinance No. 60 to establish specific requirements for documents necessary to obtain a pension license and authorization to manage pension funds under the Social Insurance Code. The regulation mandates detailed business plans, actuarial calculations, IT system descriptions, staffing reports, and risk management procedures for pension insurance companies. Recent amendments have expanded these requirements to include additional provisions for payment funds and specific rules for PEPP voluntary pension funds.
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