LAW OF THE KYRGYZ REPUBLIC

of July 25, 2019 No. 101

About introduction of amendments to the Law of the Kyrgyz Republic "About the accumulation pension funds in the Kyrgyz Republic"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 26, 2019

Article 1.

Bring in the Law of the Kyrgyz Republic "About the accumulation pension funds in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2013, No. 11, the Art. 1193) the following changes:

1) in Article 2:

a) in part 1:

the paragraph one to state in the following edition:

"1. The accumulation pension fund (further - fund) - the legal entity performing activities for attraction of pension contributions and retirement benefits on the basis of the license according to the legislation of the Kyrgyz Republic:";

add part with paragraphs the fourth and fifth the following content:

"on corporate provision of pensions of members of fund according to agreements of corporate provision of pensions;

on professional pension insurance of members of fund according to agreements on professional pension insurance.";

b) the paragraph one of part 2 after the words "Activities of Fund for Non-state Pension Provision" to add with words ", on corporate provision of pensions and professional pension insurance";

The Law to add 2) with Article 2-1 of the following content:

"Article 2-1. Types of funds

1. Funds can be:

1) open;

2) corporate;

3) professional.

2. Open pension fund - the accumulation pension fund which members can be any physical persons irrespective of the place and nature of their work.

3. The corporate accumulation pension funds are created for receivers - workers of one or several legal entities who are founders and shareholders of this accumulation pension fund.

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