ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of October 18, 2012 No. 1059

About approval of Rules of money value of obligations assumed by the Pension Fund of the Russian Federation concerning insured persons on payment of the funded pension and (or) due retirement benefit established by it

According to part 5 of article 12 of the Federal law "About Procedure for Financing of Payments at the expense of Means of Pension Accruals" Government of the Russian Federation decides:

Approve the enclosed Rules of money value of obligations assumed by the Pension Fund of the Russian Federation concerning insured persons on payment of the funded pension and (or) due retirement benefit established by it.

Approved by the Order of the Government of the Russian Federation of October 18, 2012 No. 1059

Rules of money value of obligations assumed by the Pension Fund of the Russian Federation concerning insured persons on payment of the funded pension and (or) due retirement benefit established by it

1. These rules establish procedure of money value accepted by the Pension Fund of the Russian Federation (further - Fund) obligations concerning insured persons on payment identified by it funded pension and (or) due retirement benefit.

2. The money value of obligations, stipulated in Item 1 these rules, is performed by Fund for determination of compliance of amounts of means of payable reserve and means of pension accruals of insured persons which establishes due retirement benefit, to amounts of obligations of Fund concerning insured persons for payment identified by it funded pension and (or) due retirement benefit for the purpose of carrying out in accordance with the established procedure adjustment of the size of accumulated portion of work old-age pension and due retirement benefit.

3. The money value of obligations, stipulated in Item 1 these rules, is performed by Fund annually, no later than May 1 of the year following accounting financial year.

4. The money value of obligations, stipulated in Item 1 these rules, is performed by Fund as of December 31 of accounting financial year separately concerning obligations on payment of funded pension and concerning obligations on payment of due retirement benefit.

5. The money value of obligations on payment of funded pension is determined by formula:

 where:

to - the number of insured faces by which as of December 31 of accounting financial year it is established and is paid funded pension and the expected period of payment of funded pension (further - the expected payment period) which exceeds or is equal to the period of effected payments from the date of its appointment till December 31 of accounting financial year inclusive (further - the period of effected payments);

LF - the size of the funded pension established to insured person as of December 31 of accounting financial year;

T - the number of months of the expected payment period less the number of months of the period of effected payments. Month in which insured person is granted funded pension is accepted for complete month;

Odop - the size of additional obligations of Fund, including obligations owing to the termination (suspension) of payments which can be recovered (are renewed) on the bases provided by the Federal Law "About Funded Pension" concerning insured persons, the actual period of payment of funded pension which have less than expected period and also obligations to insured persons, the period of effected payments to which exceeds the expected payment period.

6. The amount of additional obligations of Fund to insured persons is determined as of December 31 by formula:

 where:

Odop1 - the amount of additional obligations of Fund calculated for December 31 of the year preceding accounting financial year;

k1 - the number of insured persons, payment of funded pension by which earlier (in the periods preceding accounting financial year), before the expiration of the expected payment period, it was stopped it (is suspended) and recovered renewed) in reporting financial year;

NCh1 - the size of the funded pension established to insured person for date of its recovery (renewal);

T1 - the number of months of the expected payment period less the number of months of the period of effected payments. Month in which to insured person it is recovered the funded pension (is renewed), is accepted for complete month;

k2 - the number of insured persons to which earlier (in the periods preceding accounting financial year) was paid the funded pension, the period of effected payments to which earlier (in the periods preceding accounting financial year) was exceeded by the expected period of payment and by which in reporting financial year payment of funded pension was stopped in connection with death which came till December 31 of accounting financial year;

Vyp2 - the amount of the funded pension which is actually paid to insured person in reporting financial year;

Box - the adjusting factor applied by Fund in case of adjustment of the size of funded pension by results of investment of means of payable reserve, applied in reporting financial year (in case of absence in reporting financial year of adjustment the adjusting factor is accepted for 1);

k3 - the number of insured persons, payment of funded pension by which it is stopped it (is suspended) in reporting financial year before the expiration of the expected payment period;

NCh3 - the size of the funded pension established to insured person for date of the termination (suspension) of its payment;

T3 - the number of months of the expected payment period less the number of months of the period of effected payments. Month in which insured person is granted funded pension is accepted for complete month;

k4 - the number of insured faces by which as of December 31 of accounting financial year it is established and is paid funded pension and the period of effected payments to which in reporting financial year exceeded the expected payment period;

NCh4 - the size of the funded pension established to insured person as of December 31 of accounting financial year;

k5 - the number of insured persons which in reporting financial year performed payment of funded pension and the period of effected payments to which exceeds the expected payment period as of December 31 of accounting financial year;

Vyp5 - the amount of the funded pension which is actually paid to insured person in reporting financial year.

7. The money value of obligations on payment of due retirement benefit is determined by formula:

where:

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