Regulatory Alerts2026-07-28
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Ordinance No. 3 of September 24, 2003, on Changing Participation and Transferring Accumulated Funds of an Insured Person Between Supplementary Pension Insurance Funds
This Ordinance establishes the procedures for insured persons to change their participation and transfer accumulated funds between supplementary mandatory pension insurance funds and between supplementary voluntary pension insurance funds. It also covers transfers of personal insurance contributions under professional schemes. Pension insurance companies, their shareholders, and intermediaries are prohibited from offering special privileges or benefits to insured persons during these processes. Applications, which can be electronic or paper-based with notarized signatures, are processed quarterly, with funds transferred on specific dates: May 15, August 15, November 15, and February 15 for the preceding quarters. The procedure may be refused if legal requirements are not met, if multiple applications are submitted, or if personal data discrepancies exist without supporting documents. The transfer amount is determined based on the unit value on the day preceding the transfer, after accounting for minimum yield requirements and all contributions.