Regulatory Alerts2021-06-29
Ordinance No. 70 of 29.06.2021 on Requirements for Payment Funds
The Commission for Financial Supervision issued Ordinance No. 70 to establish detailed requirements for the formation, maintenance, and calculation of funds for lifetime pensions and deferred payments. The regulation mandates specific methodologies for determining required fund sizes, calculating surpluses, and managing the transfer of assets from universal pension funds to ensure solvency. It further introduces new reserve requirements for guaranteeing lifetime pension payments and updates related administrative and accounting procedures for insurance companies.
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