Regulatory Alerts2026-07-28
Added
Instruction No. 1 of 28.07.2026 on the procedure, manner, and criteria for the official distribution of persons who have not chosen a fund for additional mandatory pension insurance, and determining deviations from achieved returns
The instruction, effective January 1, 2027, establishes the procedure for the official distribution of individuals who have not chosen a universal or professional pension fund, or whose application is irregular. This quarterly distribution, performed by a commission at the National Revenue Agency, allocates individuals to sub-funds based on age and to specific funds/sub-funds using criteria weighted 45% for achieved annual return, 45% for charged deductions, and 10% for accepted individual applications. It sets return deviation thresholds for dynamic (3 percentage points), balanced (1.75 percentage points), and conservative (1.25 percentage points) sub-funds, with a specific transitional table of deviations applicable from January 1, 2028, to December 31, 2031. Instruction No. 1 of 21.02.2006 is repealed.