of December 28, 2005 No. 149
About non-state pension funds
This Law governs the legal and economic relations concerning creation, functioning, reorganization and liquidation of non-state pension funds in the Republic of Tajikistan and provides realization of the rights of citizens to voluntary additional pension provision.
Operation of this Law does not extend to the relations arising when implementing the state provision of pensions. This Law cannot be used for restriction of the rights of citizens of the Republic of Tajikistan for voluntary pension and social insurance.
Non-state pension fund (further - Fund) - special form of business of specialized non-profit organization on provision of pensions of citizens on voluntary basis.
The fund functions irrespective of system of the state provision of pensions and in addition to it.
The exclusive type of activity of Fund consists of voluntary non-state pension provision of physical persons on the basis of pension agreements.
Activities of Fund consist in accumulation of pension contributions, accumulating of pension assets and accounting of pension liabilities, placement of pension assets for the purpose of income acquisition from investments, appointments and payment of non-state pensions to receivers to voluntary basis.
The legal entities who are not meeting requirements imposed by this Law to the funds having no right to use in the name words "non-state pension fund" in any combinations.
The legislation of the Republic of Tajikistan on non-state pension funds is based on the Constitution of the Republic of Tajikistan and consists of this Law, other regulatory legal acts, and also the international legal acts recognized by the Republic of Tajikistan.
In this Law the following basic concepts are used:
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