Regulatory Alerts2006-09-19
Ordinance No. 33 of 19.09.2006 on Individual Applications for Participation in an Additional Mandatory Pension Insurance Fund and for Resuming Insurance in a Universal Pension Fund
The Commission for Financial Supervision issued Ordinance No. 33 to regulate the procedures, forms, and content requirements for individual applications to join an additional mandatory pension insurance fund or to resume insurance in a universal pension fund. The ordinance mandates that pension insurance companies maintain electronic registers of all applications, prohibits the offering of special privileges during the selection process, and establishes strict validation protocols involving the National Revenue Agency. It further defines administrative liability for violations and outlines the specific obligations of insurers to notify participants of changes in personal data and to report invalid applications.
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