Regulatory Alerts2026-06-23
Added
Ordinance No. 1 of 23.06.2026 on the Reserves for Guaranteeing the Gross Amount of Contributions to Supplementary Compulsory Pension Insurance Funds and the Reserves for Guaranteeing Pension Payments
This ordinance sets requirements for pension insurance companies regarding the formation, calculation, and maintenance of reserves for guaranteeing the gross amount of contributions to universal and professional supplementary compulsory pension insurance funds, and reserves for guaranteeing pension payments. Reserves for contributions must be between 1% and 1.5% of the fund's net assets, while reserves for pension payments must be between 4% and 6% of the capitalized value of payments. The ordinance, adopted by the Financial Supervision Commission, enters into force on January 1, 2027, and repeals Ordinance No. 19 of 2004 and Ordinance No. 68 of 2021.