FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 24, 2002 No. 111-FZ

About investment of means for financing of funded pension in the Russian Federation

Accepted by the State Duma of the Russian Federation on June 26, 2002

Approved by Council of the Russian Federation on July 10, 2002

This Federal Law establishes the legal basis of the relations on forming and investment of means of the pension accruals intended for financing of funded pension determines features of legal status, the right, obligation and responsibility of subjects and participants of the relations by forming and investment of means of pension accruals, and also establishes bases of state regulation of control and supervision in the sphere of forming and investment of means of pension accruals.

Chapter 1. General provisions

Article 1. Subject of regulation and scope of this Federal Law

Subject of regulation of this Federal Law are the relations connected with forming and investment of means of pension accruals for financing of payment of funded pension.

Article 2. The legislation on investment of means of pension accruals in the Russian Federation

The legislation on investment of means of pension accruals in the Russian Federation consists of the Constitution of the Russian Federation, the Civil code of the Russian Federation, this Federal Law, the Federal Laws governing the relations in the sphere of mandatory pension insurance, other Federal Laws.

In the cases provided by the Federal Laws, relations management, connected with investment of means of pension accruals it is performed on the basis of regulatory legal acts of the Russian Federation and regulations of the Central bank of the Russian Federation.

The legislation of the Russian Federation on investments and investing activities is applied to the relations on investment of pension accruals into parts, not contradicting this Federal Law.

If the international treaty of the Russian Federation establishes other rules, than provided by this Federal Law rules of the international treaty of the Russian Federation are applied.

The decisions of interstate bodies made based on provisions of international treaties of the Russian Federation in their interpretation contradicting the Constitution of the Russian Federation are not subject to execution in the Russian Federation. Such contradiction can be established according to the procedure, determined by the Federal constitutional Law.

Article 3. The basic concepts and terms applied in this Federal Law

For the purpose of this Federal Law the following basic concepts and terms are applied:

1) pension accruals - the set of means including:

the amounts of insurance premiums for financing of funded pension, and also the amount of additional insurance premiums for funded portion of work pension, the amount of fees of the employer for benefit of insured person paid according to the Federal Law of April 30, 2008 to No. 56-FZ "About additional insurance premiums for funded pension and the state support of forming of pension accruals" (further - the Federal Law "About Additional Insurance Premiums for Funded Pension and the State Support of Forming of Pension Accruals"), which arrived in Fund of pension and social insurance of the Russian Federation and not delivered in trust management to managing companies and non-state pension funds yet, including net financial result which is received from placement of the specified insurance premiums and fees of the employer by the Federal Treasury and which procedure of payments for the purpose of this Federal Law is established by authorized federal executive body;

the amounts of fees on joint financing of forming of pension accruals which arrived in Fund of pension and social insurance of the Russian Federation according to the Federal Law "About Additional Insurance Premiums for Funded Pension and the State Support of Forming of Pension Accruals";

the funds (part of means) of the maternity (family) capital allocated for forming of funded pension according to the Federal Law of December 29, 2006 No. 256-FZ "About additional measures of the state support of the families having children" (further - the Federal Law "About Additional Measures of the State Support of the Families Having Children") and not delivered in trust management to managing companies, and also non-state pension funds yet;

the means delivered in trust management to managing companies of Fund of pension and social insurance of the Russian Federation according to this Federal Law;

the means which arrived in Fund of pension and social insurance of the Russian Federation from managing companies for payment to insured persons and their legal successors and are not directed to pension payment yet;

the funds (part of means) of the maternity (family) capital allocated for forming of funded pension, which arrived in Fund of pension and social insurance of the Russian Federation from managing companies and non-state pension funds in case of refusal of insured person from the direction them on forming of funded pension and not directed to other purposes according to the Federal Law "About Additional Measures of the State Support of the Families Having Children" yet;

the means which arrived in Fund of pension and social insurance of the Russian Federation from managing companies for transfer to non-state pension funds according to statements of insured persons and are not transferred to non-state pension funds yet;

means, including funds (part of means) of the maternity (family) capital allocated for forming of funded pension, which arrived in Fund of pension and social insurance of the Russian Federation from non-state pension funds in accordance with the legislation of the Russian Federation and not delivered in trust management to managing companies yet;

the means of payable reserve transferred by Fund of pension and social insurance of the Russian Federation to trust management of the state-owned managing company of means of payable reserve according to the trust management agreement of means of payable reserve, feature of forming and which investments are established by the Federal Law of November 30, 2011 No. 360-FZ "About procedure for financing of payments at the expense of means of pension accruals" (further - the Federal Law "About Procedure for Financing of Payments at the expense of Means of Pension Accruals");

means of pension accruals of insured persons which establishes due retirement benefit, transferred by Fund of pension and social insurance of the Russian Federation to trust management of the state-owned managing company of means of payable reserve according to the trust management agreement of means of pension accruals of insured persons which establishes due retirement benefit, features of forming and which investments are established by the Federal Law "About Procedure for Financing of Payments at the expense of Means of Pension Accruals";

means of reserve on mandatory pension insurance;

means of the warranty compensation received according to the Federal Law "About Guaranteeing the Rights of Insured Persons in System of Mandatory Pension Insurance of the Russian Federation during the Forming and Investment of Means of Pension Accruals, Establishment and Implementation of Payments at the expense of Means of Pension Accruals";

means (part of means) of the maternity (family) capital, including the income from their investment, arrived in Fund of pension and social insurance of the Russian Federation from managing companies and non-state pension funds in case of refusal of insured person from the direction them on forming of funded pension and not used in the direction (directions) provided (provided) by Articles 10, 11 and 11.1 Federal Laws "About Additional Measures of the State Support of the Families Having Children";

the means of reserve of Fund of pension and social insurance of the Russian Federation for mandatory pension insurance which are subject to recovery on individual personal account of insured person in case of acceptance by the representative for the rights of consumers of financial services or court of the decision on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to non-state pension fund or from one non-state pension fund in other non-state pension fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid;

investment income of the means of reserve of Fund of pension and social insurance of the Russian Federation for mandatory pension insurance which are subject to recovery on individual personal account of insured person in case of acceptance by the representative for the rights of consumers of financial services or court of the decision on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to non-state pension fund or from one non-state pension fund in other non-state pension fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid, in the amount of, determined according to the procedure, established by this Federal Law, in the amount of, determined according to the procedure, established by this Federal Law;

percent for unauthorized use by means of pension accruals and the funds allocated for forming of own means of non-state pension fund, which are subject to the translation by non-state pension fund to the previous insurer in case of acceptance by the representative for the rights of consumers of financial services or court of the decision on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to non-state pension fund or from one non-state pension fund in other non-state pension fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid;

2) investment of means of pension accruals - activities of managing company for management of means of pension accruals;

3) the permitted assets - the investment objects permitted for the purpose of this Federal Law;

4) managing company - the managing company which is selected on tender, the state-owned managing company, and also the state-owned managing company by means of payable reserve;

4. 1) the managing company which is selected on tender, - the legal entity having license for activities on management of investment funds, mutual investment funds and non-state pension funds, selected on the competition held according to the procedure, established by this Federal Law, for implementation of investment of means of the pension accruals delivered to it in trust management of pension and social insurance of the Russian Federation of Fund according to statements of insured persons for the choice of investment portfolio (managing company);

4. 2) the state-owned managing company - the state corporation of development "ВЭБ.РФ" performing investment delivered by it in trust management of pension and social insurance of the Russian Federation of means of pension accruals of Fund by forming:

the expanded investment portfolio of the state-owned managing company including the means of pension accruals created for benefit of the insured persons which did not use option of investment portfolio (managing company) or non-state pension fund and also the means of pension accruals created for benefit of the insured persons which used option of expanded investment portfolio of the state-owned managing company;

the investment portfolio of government securities of the state-owned managing company including the means of pension accruals created for benefit of the insured persons which used option of investment portfolio of government securities of the state-owned managing company;

4. 3) the state-owned managing company means of payable reserve - the state corporation of development "ВЭБ.РФ" performing investment delivered by it in trust management of pension and social insurance of the Russian Federation of means of payable reserve of Fund by forming of investment portfolio of the payable reserve including means of the pension accruals created for benefit of insured persons who by Fund of pension and social insurance of the Russian Federation are granted funded pension, and also means of pension accruals of insured persons which Fund of pension and social insurance of the Russian Federation appoints due retirement benefit, by forming of investment portfolio of means of pension accruals of insured persons which establishes due retirement benefit;

5) specialized depositary - the joint-stock company, society with limited (additional) liability created in accordance with the legislation of the Russian Federation, having licenses for implementation of depository activity and activities of specialized depositary of investment funds, mutual investment funds and non-state pension funds;

6) investment portfolio - the assets (money and securities) created at the expense of the means transferred by Fund of pension and social insurance of the Russian Federation of managing company for one trust management agreement, and isolated from other assets. One managing company can build one or several investment portfolios;

7) total investment portfolio - set of the money and securities which are in trust management of managing companies;

8) investment incomes - dividends and percent (income) on securities and bank deposits, other income types from transactions on investment of means of the pension accruals including included in payable reserve, net financial result from realization of assets, the financial result reflecting change in value of investment portfolio on the basis of the revaluation performed according to the procedure, determined by the Central bank of the Russian Federation, and also the means of pension accruals which remained later satisfactions of requirements of creditors of the liquidated non-state pension fund performing activities for mandatory pension insurance;

9) insured person - person to who mandatory pension insurance extends and for which are paid insurance premiums for financing of funded pension (were paid);

10) ceased to be valid according to the Federal Law of the Russian Federation of 03.12.2012 No. 242-FZ;

11) ceased to be valid according to the Federal Law of the Russian Federation of 03.12.2012 No. 242-FZ.

12) year when the Fund of pension and social insurance of the Russian Federation became the insurer of insured person:

for the insured persons which did not use option of forming of means of pension accruals in non-state pension fund - year in which data on the first receipt of the amounts of insurance premiums for funded pension, means of additional insurance premiums for funded pension, fees of the employer for benefit of insured person, funds (part of the means) of the maternity (family) capital allocated for forming of funded pension are reflected in special part of individual personal accounts of insured persons;

for the insured persons which performed transition (early transition) to Fund of pension and social insurance of the Russian Federation - year in which in the unified register of insured persons on mandatory pension insurance the option of forming of means of pension accruals is reflected in Fund of pension and social insurance of the Russian Federation;

for the insured persons which performed transition to Fund of pension and social insurance of the Russian Federation according to the decision of the representative for the rights of consumers of financial services or the judgment on return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to non-state pension fund or from one non-state pension fund in other non-state pension fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative, or in connection with recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid, - year determined according to the paragraph second or third this subitem, proceeding from the conditions existing about day of entry into force of the decision of the representative for the rights of consumers of financial services or the judgment about return to the previous insurer on mandatory pension insurance of means of pension accruals in connection with not conclusion of the agreement on mandatory pension insurance on the ground that the statement of insured person for transition (the statement of insured person for early transition) from Fund of pension and social insurance of the Russian Federation to non-state pension fund or from one non-state pension fund in other non-state pension fund and (or) the agreement on mandatory pension insurance are signed not by insured person and not his authorized representative, or recognition by court of the agreement on mandatory pension insurance not by the prisoner on other bases or invalid;

for the insured persons which performed transition to Fund of pension and social insurance of the Russian Federation in connection with cancellation of the license at non-state pension fund or introduction of prohibition by the Bank of Russia on implementation of transactions of non-state pension fund on mandatory pension insurance - year in which the license of non-state pension fund is cancelled or ban is imposed by the Bank of Russia;

13) date when the Fund of pension and social insurance of the Russian Federation became the insurer of insured person:

for the insured persons which did not use option of forming of means of pension accruals in non-state pension fund - the 1st in which in special part of individual personal accounts of insured persons data on the first receipt of the amounts of insurance premiums for funded pension, means of additional insurance premiums for funded pension, fees of the employer for benefit of insured person, funds (part of the means) of the maternity (family) capital allocated for forming of funded pension are reflected;

for the insured persons which performed transition (early transition) to Fund of pension and social insurance of the Russian Federation - date of reflection of option of forming of means of pension accruals in Fund of pension and social insurance of the Russian Federation in the unified register of insured persons on mandatory pension insurance;

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