Regulatory Alerts2026-06-23
Added · Updated
Ordinance No. 1 of 23.06.2026 on the Reserves for Guaranteeing the Gross Amount of Contributions to Supplementary Mandatory Pension Insurance Funds and the Reserves for Guaranteeing Pension Payments
The Financial Supervision Commission issued Ordinance No. 1 of 23.06.2026, effective January 1, 2027, which establishes requirements for pension insurance companies regarding the formation, calculation, and maintenance of reserves. It mandates reserves for guaranteeing the gross amount of contributions to universal and professional supplementary mandatory pension insurance funds, requiring these to be between 1% and 1.5% of the fund's net assets, recalculated monthly. Additionally, it sets rules for reserves guaranteeing pension payments, which must be between 4% and 6% of the capitalized value of specified payments, recalculated annually, and repeals previous ordinances No. 19 of 2004 and No. 68 of 2021.
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