It is registered
in Ministry of Justice
On April 9, 2008 No. 11508
of March 18, 2008 No. 08-11/pz-n
About approval of the Regulations on insurance reserve of non-state pension fund
(as of September 23, 2008)
In compliance so article 20 of the Federal law "About Non-state Pension Funds" of 07.05.1998 N 75-FZ (Russian Federation Code, 1998, N 19, Art. 2071; 2001, N 7, Art. 623; 2002, N 12, Art. 1093; 2003, N 2; Art. 166; 2004, N 49, Art. 4854; 2005, N 19, the Art. 1755, 2006, N 43, the Art. 4412), the order of the Government of the Russian Federation of 02.12.2006 N 738 "About procedure for assignment of funds for forming of insurance reserve of non-state pension fund" (The Russian Federation Code, 2006, N 49, the Art. 5229) and the Regulations on the Federal Service for Financial Markets approved by the order of the Government of the Russian Federation of 30.06.2004 N 317 (The Russian Federation Code, 2004, N 27, Art. 2780; 2005, N 33, Art. 3429; 2006, N 13, Art. 1400; 2006, N 52, Art. 5587; 2007, N 12, to the Art. 1417), I order:
1. Approve the enclosed Regulations on insurance reserve of non-state pension fund.
2. This order becomes effective from 01.12.2008.
3. The resolution of the Ministry of Labour and social development of the Russian Federation of 26.04.2004 N 55 "About approval of the Regulations on the normative size of insurance reserve and procedure for its forming and use" (it is registered by the Ministry of Justice of the Russian Federation 02.06. 2004, registration N 5811) this order is not subject to application from the effective date.
Head V. Milovidov
This Provision establishes the normative size of insurance reserve, procedure for its forming and use, and also procedure for assignment of means in insurance reserve of non-state pension fund (further - fund).
Funds, being guided by this Provision, independently develop policy of forming and use of insurance reserve proceeding from the pension schemes applied by them.
The policy of forming and use of insurance reserve accepted by fund affirms the internal administrative document of fund and shall contain following provisions:
1) sources of forming of insurance reserve;
2) procedure for ensuring stability of obligation fulfillment of fund before participants for each applied pension scheme;
3) procedure for recovery of insurance reserve in case of its insufficiency.
2.1. The insurance reserve can be created at the expense of the following sources:
1) parts of the income from investment of funds of pension reserves;
2) target revenues to forming of insurance reserve;
3) parts of pension contributions;
2.2. Part of the income from investment of funds of pension reserves goes to insurance reserve following the results of activities of fund for accounting year.
Assignment of part of the income from investment of funds of pension reserves in insurance reserve is performed based on the internal administrative document of fund by carrying out records on the corresponding accounts of financial accounting of target means and pension reserves of fund for rules of conducting financial accounting.
2.3. Target revenues to forming of insurance reserve go to insurance reserve according to specifying of person which gave to fund property or according to the internal administrative document of fund in case of the direction of the income (part of the income) received from placement of the property intended for ensuring its authorized activities on forming of insurance reserve.
Contribution to insurance reserve of income (part of the income) gained from placement of the property intended for ensuring authorized activities of fund is performed by introduction of records on the corresponding accounts of financial accounting on rules of conducting financial accounting.
The structure of the property deducted in insurance reserve of fund shall conform to the requirements to structure of pension reserves established by regulatory legal acts of the Russian Federation and pension rules of fund.
2.4. Part of pension contribution can be directed to forming of insurance reserve if rules of fund and the pension agreement provide the right of fund to make such assignments, and in it the size of the deducted part of pension contribution, but no more than 3 percent from the amount of pension contributions is established.
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