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RESOLUTION OF BOARD OF SOCIAL SECURITY FUND OF THE POPULATION OF THE MINISTRY OF LABOUR AND SOCIAL PROTECTION OF THE REPUBLIC OF BELARUS

of December 10, 2013 No. 17

About approval of the Regulations on capitalization of temporarily available funds and the directions of use of the gained income

Based on Regulations on Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus approved by the Presidential decree of the Republic of Belarus of January 16, 2009 No. 40 "About Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus" the board of Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus DECIDES:

1. Approve Regulations on capitalization of temporarily available funds and the directions of use of the gained income it (is applied).

2. This resolution becomes effective since January 1, 2014.

Chairman of the board

M. A. Shchetkina

 

Approved by the Resolution of board of Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus of December 10, 2013 No. 17

Regulations on capitalization of temporarily available funds and the directions of use of the gained income

1. This Provision determines general terms of implementation of capitalization of temporarily available funds of the national social insurance and the direction of use of the gained income.

2. For the purposes of this Provision capitalization of temporarily available funds of the national social insurance (further - temporarily available funds) is understood as their address in the financial market for the purpose of income acquisition.

3. Capitalization of temporarily available funds is performed by Social Security Fund of the population of the Ministry of Labour and Social Protection of the Republic of Belarus on the terms of recoverability, the paid nature and urgency. Temporarily available funds can be placed in bank deposit (deposit), government securities and other forms according to the legislation of the Republic of Belarus.

4. Capitalization of temporarily available funds is made based on the signed contracts with ensuring the maximum profitability and the minimum risk degree. In all cases profitability is established, as a rule, at the level of refunding rate of National Bank of the Republic of Belarus.

5. Income gained from capitalization of temporarily available funds is used according to the legislation of the Republic of Belarus.

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