Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of January 27, 2012 No. 38

About approval of Rules of investment of means of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation

(as amended on 24-11-2020)

According to article 14 of the Federal law "About Investment of Means for Financing of Funded Portion of Work Pension in the Russian Federation" Government of the Russian Federation decides:

1. Approve the enclosed Rules of investment of means of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation.

2. To the Ministry of Finance of the Russian Federation in 3-month time from the date of entry into force of this resolution to develop and approve:

a) standard form of the agreement of the Pension Fund of the Russian Federation with credit institution of investment of funds of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation on currency deposits of the Russian Federation and procedure for its conclusion;

b) procedure of payments for credit institution of limit of investment of funds of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation on currency deposits of the Russian Federation;

c) procedure for selection of requests of credit institutions for the conclusion with the Pension Fund of the Russian Federation of agreements of bank deposit and procedure for the conclusion with the Pension Fund of the Russian Federation of such agreements.

3. Recognize invalid:

the order of the Government of the Russian Federation of August 31, 2002 No. 652 "About approval of Rules of investment of means of the insurance premiums for financing of funded portion of work pension which arrived within financial year in the Pension Fund of the Russian Federation" (The Russian Federation Code, 2002, No. 36, the Art. 3489);

the order of the Government of the Russian Federation of February 28, 2008 No. 125 "About modification of Rules of investment of means of the insurance premiums for financing of funded portion of work pension which arrived within financial year in the Pension Fund of the Russian Federation" (The Russian Federation Code, 2008, No. 9, the Art. 858);

the order of the Government of the Russian Federation of March 30, 2009 No. 257 "About modification of Rules of investment of means of the insurance premiums for financing of funded portion of work pension which arrived within financial year in the Pension Fund of the Russian Federation" (The Russian Federation Code, 2009, No. 14, the Art. 1643).

Russian Prime Minister

V. Putin

 

Approved by the Order of the Government of the Russian Federation of January 27, 2012 No. 38

Rules of investment of means of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation

1. These rules determine procedure and the directions of investment of means of the insurance premiums for financing of funded pension which arrived within financial year in the Pension Fund of the Russian Federation (further - means of insurance premiums).

In these rules the investment portfolio of the Pension Fund of the Russian Federation (further - investment portfolio) is understood as the assets (money and government securities of the Russian Federation, on which obligations are expressed in currency of the Russian Federation) created at the expense of means of the insurance premiums which arrived in the Pension Fund of the Russian Federation within every quarter of the corresponding financial year.

2. Means of insurance premiums can be placed:

a) in government securities of the Russian Federation on which obligations are expressed in currency of the Russian Federation (further - government securities), in case of observance of conditions, stipulated in Item 3 these rules;

b) on currency deposits of the Russian Federation in credit institutions (further - deposits) in case of observance of requirements, stipulated in Item 8 these rules.

3. Investment of funds of insurance premiums in government securities is allowed in case of accomplishment at least of one of the following conditions:

a) conditions of issue and the address of government securities provide prohibition on their address in the secondary market;

b) term before repayment of government securities for date of their acquisition by the Pension Fund of the Russian Federation does not exceed 365 calendar days.

4. The Pension Fund of the Russian Federation has the right to make transactions on transfer of assets from one investment portfolio in other investment portfolio. At the same time money from one investment portfolio in other investment portfolio is transferred in the amount of, equal to the cost of the translated government securities.

Transaction date is determined by transfer of assets by the Pension Fund of the Russian Federation.

The cost of the translated government securities is determined by the Pension Fund of the Russian Federation proceeding from their market price of date of implementation of the translation. Market price of security is determined according to procedure of payments of asset cost and net assets value in which means of pension accruals are invested, approved according to the subitem 7 of Item 1 of article 12 of the Federal law "About Investment of Means for Financing of Funded Pension in the Russian Federation".

5. The decision on amount and structure of investments of capital of insurance premiums, and also on amount and types of the government securities which are subject to the transfer from one investment portfolio to other investment portfolio is accepted by the Pension Fund of the Russian Federation.

The Pension Fund of the Russian Federation informs the Ministry of Finance of the Russian Federation on amount and structure of investments of capital of insurance premiums, and also on amount and types of the government securities which are subject to the transfer from one investment portfolio to another.

The Pension Fund of the Russian Federation quarterly submits in the Central bank of the Russian Federation the operations statement with the assets constituting investment portfolios, according to the procedure in form and in terms which are established in accordance with the legislation of the Russian Federation.

6. Acquisition of government securities is performed by the Pension Fund of the Russian Federation in accordance with the legislation of the Russian Federation.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.