INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 23, 2018 No. 4881-U

About procedure of payments of investment income of means of pension accruals for the purposes of calculation of variable part of remuneration of the non-state pension fund performing activities of the insurer for mandatory pension insurance

This Instruction based on paragraph two of Item 3 of article 36.23 of the Federal Law of May 7, 1998 No. 75-FZ "About non-state pension funds" (The Russian Federation Code, 1998, No. 19, Art. 2071; 2001, No. 7, Art. 623; 2002, No. 12, Art. 1093; 2003, No. 2, Art. 166; 2004, No. 49, Art. 4854; 2005, No. 19, Art. 1755; 2006, No. 43, Art. 4412; 2007, No. 50, Art. 6247; 2008, No. 18, Art. 1942; No. 30, Art. 3616; 2009, No. 29, Art. 3619; No. 48, Art. 5731; No. 52, Art. 6450, Art. 6454; 2010, No. 17, Art. 1988; No. 31, Art. 4196; 2011, No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7036, Art. 7037, Art. 7040, Art. 7061; 2012, No. 31, Art. 4322; No. 47, Art. 6391; No. 50, Art. 6965, Art. 6966; 2013, No. 19, Art. 2326; No. 30, Art. 4044, Art. 4084; No. 49, Art. 6352; No. 52, Art. 6975; 2014, No. 11, Art. 1098; No. 30, Art. 4219; 2015, No. 27, Art. 3958, Art. 4001; No. 29, Art. 4357; 2016, No. 1, Art. 41, Art. 47; No. 27, Art. 4225; 2017, No. 31, Art. 4754, Art. 4830; 2018, No. 1, Art. 66; No. 11, Art. 1584; No. 31, of the Art. 4858) (further - the Federal Law "About Non-state Pension Funds") establishes procedure of payments of investment income of means of pension accruals for the purposes of calculation of variable part of remuneration of the non-state pension fund performing activities of the insurer for mandatory pension insurance (further - fund).

1. The fund shall perfrom calculation of investment income of means of pension accruals for the purposes of calculation of variable part of remuneration (further - calculation of the income) for accounting year.

2. In case of availability in reporting year of the period (periods) during which the fund did not perform activities of the insurer for mandatory pension insurance including in case of introduction of prohibition (prohibitions) of the Bank of Russia on carrying out all or part of transactions according to article 34.1 of the Federal law "About Non-state Pension Funds", such periods shall not be considered by fund when calculating the income.

3. For the purposes of calculation of the income the fund shall use the periods during which the fund performs investment of means of pension accruals of fund (further - the investment period). Start and end dates of the period of investment shall be in limits of one accounting year.

4. The fund shall perfrom calculation of the income for accounting year (I) to within kopeks on formula:

where:

k - sequence number of the period of investment;

N - number of the periods of investment in reporting year;

Vkl - asset cost, constituting pension accruals, according to accounting data for the end of the last day of the period of investment of k taking into account all adjusting events which are subject to reflection in financial accounting according to the Provision of the Bank of Russia on December 16, 2015 No. 520-P "Industry standard of the financial accounting by not credit financial credit institutions of events after the reporting period" registered by the Ministry of Justice of the Russian Federation on January 22, 2016 No. 40722, on December 21, 2016 No. 44854, on December 15, 2017 No. 49269;

Fixkl - the amount of sizes - the size of constant component of remuneration of fund for the period investments of k and the size of necessary expenses of the managing companies which are directly connected with investment of means of pension accruals and paid from means of pension accruals (further - expenses of managing company), for the period investments of k, in the part which is not paid at the expense of means of pension accruals as of the last day of the period of investment of k;

Vko - asset cost, constituting pension accruals, according to accounting data for the beginning of the first day of the period of investment of k;

Fixko - the amount of sizes - the size of constant component of remuneration of fund for the period investments, k preceding the period of investment, and the size of expenses of managing companies for the period investments preceding the period of investment of k in the part which is not paid at the expense of means of pension accruals as of the last day of the period of the investment preceding the period of investment of k. If the investment period preceding the period of investment of k is in limits of 2017, the indicator of Fix0 is accepted equal 0;

Fk - the amount of the means which arrived in structure of pension accruals in the period of investment of k less the amount of the means which were disposed from structure of pension accruals in the period of investment of k. Measure calculation of Fk does not join the following sizes:

the size of the constant component of remuneration paid to fund and the size of expenses of managing companies;

the amount of the means which arrived on the assets constituting pension accruals including in connection with repayment (redemption) of the asset constituting pension accruals, person obliged on such asset;

the amount of the means which were disposed and arrived in structure of pension accruals as a result of transactions with the assets constituting pension accruals.

5. This Instruction becomes effective after 10 days after day of its official publication.

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