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Ministry of Justice

Republic of Tajikistan

On March 28, 2013 No. 212

LAW OF THE REPUBLIC OF TAJIKISTAN

of March 19, 2013 No. 955

About mandatory pension insurance

This Law establishes bases of state regulation of mandatory pension insurance in the Republic of Tajikistan, governs the public relations in system of mandatory pension insurance, and also determines legal status of subjects of mandatory pension insurance, the basis of origin and procedure of their rights and obligations, responsibility of subjects of mandatory pension insurance.

CHAPTER I. GENERAL PROVISIONS

Article 1. Basic concepts

In this Law the following basic concepts are used:

- mandatory pension insurance - the form of state regulation of the pension relations based on the organization of accounting of the paid pension contributions;

- insurance indemnity - obligatory execution by authorized state body of mandatory pension insurance of the obligations to insured person in case of loss occurrence by means of social payments;

- means of mandatory pension insurance - the money which is in management of authorized state body of mandatory pension insurance;

- the budget of insurance organization - form of education and expenditure of money for the purpose of mandatory pension insurance of mandatory pension insurance by authorized state body;

- pension accruals - the insurance means deducted by insured person during all labor activity and the income from their use considered on special part of its individual personal account.

Article 2. Legislation of the Republic of Tajikistan on mandatory pension insurance

The legislation of the Republic of Tajikistan on mandatory pension insurance is based on the Constitution of the Republic of Tajikistan and consists of this Law, other regulatory legal acts of the Republic of Tajikistan, and also the international legal acts recognized by Tajikistan.

CHAPTER 2. LEGAL RELATIONSHIP ON MANDATORY PENSION INSURANCE

Article 3. Authorized state body of mandatory pension insurance

1. Mandatory pension insurance in the Republic of Tajikistan is performed by the authorized state body of mandatory pension insurance (further - insurance organization) determined by the Government of the Republic of Tajikistan.

2. The state bears subsidiary responsibility according to obligations of insurance organization to insured persons.

Article 4. Social risks on mandatory pension insurance

1. Social risk loss by insured person of earnings (payments, remunerations for benefit of insured person) or other income is recognized this Law.

2. Types of social risks on mandatory pension insurance are:

- approach of old age;

- disability;

- loss of the supporter;

- death of the pensioner.

Article 5. Insured events on mandatory pension insurance

Insured event is realization of one of types of the social risks provided in part 2 of article 4 of this Law.

Article 6. Insurance indemnity on mandatory pension insurance

1. In case of loss occurrence, the insurance organization shall pay to insured person the following insurance indemnity:

- insurance pension on age;

- insurance pension on disability;

- insurance pension on the occasion of loss of the supporter;

- benefits for burial of the died pensioner who was not working on the date of death.

2. Appointment, payment and determination of the period of insurance indemnity on mandatory pension insurance are performed according to the procedure, established by the legislation of the Republic of Tajikistan.

Article 7. Pension contributions

The amount of pension contributions which came to the budget of insurance organization for insured person is considered on its individual personal account according to the Law of the Republic of Tajikistan "About the personified accounting in system of mandatory pension insurance".

Article 8. Pension accruals

1. Pension accruals of insured persons are created at the expense of the pension contributions deducted by the insurer and/or insured persons and considered on special part of individual personal account according to the Law of the Republic of Tajikistan "About the personified accounting in system of mandatory pension insurance".

2. Payment procedure of means of pension accruals to insured persons are determined by rules of payment of means of pension accruals from individual personal accounts of insured persons, approved by the Government of the Republic of Tajikistan.

Article 9. Powers of state bodies on mandatory pension insurance

On mandatory pension insurance is included into power of state bodies:

- approval of the budget of insurance organization and report on its execution;

- establishment of procedure for acceptance and budget implementation of insurance organization;

- determination of procedure and conditions of forming, placement and investment of means of pension accruals;

- determination of procedure for storage of means of mandatory pension insurance;

- management of system of mandatory pension insurance;

- ensuring financial stability and balance of system of mandatory pension insurance, including by ensuring receipt of obligatory payments in the amount provided by the budget of insurance organization;

- determination of procedure for use of temporarily available funds of mandatory pension insurance;

- implementation of the state control and supervision of realization of the rights of insured persons to insurance indemnity.

Article 10. Obligations of insurance organization

The insurance organization shall:

- prepare reasons for the size of rate of pension contributions;

- appoint, recalculate and to timely pay insurance pensions on the basis of data of individual accounting, benefit for burial of the died pensioner who was not working on the date of death;

- exercise control of justification of submission of documents for appointment, recalculation of the amount of insurance pensions, including on favorable terms in connection with special working conditions;

- constitute the budget statement of insurance organization and provide its execution;

- to regularly inform in accordance with the established procedure insurers, insured persons, the state, public organizations on the financial condition and to take measures for ensuring the financial stability;

- provide target use of means of mandatory pension insurance, and also exercise control of their use;

- perform accounting of the means arriving on mandatory pension insurance;

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