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LAW OF THE KYRGYZ REPUBLIC

of August 2, 2004 No. 103

About Social fund of the Kyrgyz Republic

(as amended on 13-05-2020)

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on May 27, 2004

This Law establishes legal and economic basis of the organization and activities of Social fund of the Kyrgyz Republic, determines its legal status, the rights and obligations, and also bases of regulation of its relations with legal entities and physical persons, state bodies.

Article 1. Social fund of the Kyrgyz Republic

The social fund of the Kyrgyz Republic (further - Social fund) is the executive body of system of the national social insurance and provision of pensions in the Kyrgyz Republic pursuing state policy and exercising control in the sphere of the national social insurance and provision of pensions, operating on the principles of self-government.

The social fund is legal entity, has seal with the name and the image of the State Emblem of the Kyrgyz Republic. The social fund has regional bodies and subordinated organizations in the territory of the Kyrgyz Republic.

Article 2. Tasks and functions of Social fund

Tasks of Social fund are:

- development and realization of coordinated policy in the field of the national social insurance and provision of pensions;

- providing the right of insured persons to the national social insurance according to the legislation of the Kyrgyz Republic;

- ensuring financial stability of system of the national social insurance within competence of Social fund.

The social fund performs the following functions:

- accounting of the legal entities and physical persons performing the activities in the territory of the Kyrgyz Republic, maintaining databank on all categories of payers of insurance premiums;

- accumulation and timely transfer of insurance premiums to the Pension fund, State accumulation pension fund, Fund of compulsory medical insurance, Fund of improvement of workers;

- purpose of pensions, benefits, charge of compensations and organization of their payment;

- conducting the personified (individual) accounting of insured persons according to the Law of the Kyrgyz Republic "About the personified (individual) accounting of citizens of the Kyrgyz Republic for the purposes of compulsory national social insurance";

- financing of expenses of the Pension fund, State accumulation pension fund, Fund of compulsory medical insurance and Fund of improvement of workers;

- collection from the employers and citizens guilty of damnification to health of workers and other citizens, the amounts of national pensions on disability owing to labor mutilation, occupational disease or on the occasion of loss of the supporter;

- control of the correct expenditure of means of the national social insurance according to the legislation of the Kyrgyz Republic;

- development and entering of offers into the Government of the Kyrgyz Republic on forming of the main directions of the state tariff policy in the field of the national social insurance and provision of pensions, to enhancement of the legislation of the Kyrgyz Republic determining procedure for the national social insurance and provision of pensions including accumulated portion;

- creation and management of the State accumulation pension fund;

- use of means of the pension accruals only for the purpose of established by the legislation of the Kyrgyz Republic;

- preparation of offers to the President of the Kyrgyz Republic, Jogorku Kenesh of the Kyrgyz Republic and the Government of the Kyrgyz Republic on the questions carried to competence of Social fund;

- carrying out explanatory work among the population and legal entities on the questions carried to competence of Social fund;

- implementation of interaction with participants of funded pension system concerning investment of pension accruals and provision of pensions of citizens;

- other functions, according to the legislation of the Kyrgyz Republic.

Article 3. Rights and obligations of Social fund

For achievement of objectives the Social fund has the right:

- study in accordance with the established procedure work of the legal entities and physical persons (including foreign) performing activities in the territory of the Kyrgyz Republic, irrespective of legal forms and patterns of ownership, to receive necessary documents and data concerning payment of insurance premiums and expenditure of means of the national social insurance;

- receive from bodies of Tax Service information, necessary for implementation of the national social and pension insurance, on insurers and insured persons, including the tax declaration and other data, according to the procedure, established by the legislation of the Kyrgyz Republic;

- demand from officials of the legal entity, from physical persons of elimination of violations of the law of the Kyrgyz Republic on expenditure of the means provided on pension payment, the benefits, compensations, except as specified, provided by the Law of the Kyrgyz Republic "About preparation for submission of the single tax declaration by citizens of the Kyrgyz Republic";

- the paragraph the fifth parts 1 of Article 3 ceased to be valid according to the Law of the Kyrgyz Republic of 03.08.2015 No. 212

- involve in conducting examination of qualified specialists from monitoring bodies, other organizations, organizations and the companies;

- the paragraph of the seventh ceased to be valid according to the Law of the Kyrgyz Republic of 13.05.2020 No. 54;

- the paragraph of the eighth ceased to be valid according to the Law of the Kyrgyz Republic of 13.05.2020 No. 54;

- report materials to law enforcement agencies on persons who are not performing requirements of Social fund;

- the paragraph the tenth parts 1 of Article 3 ceased to be valid according to the Law of the Kyrgyz Republic of 03.08.2015 No. 212

- open accounts in banks;

- place temporarily available funds on short-term deposits in banks, perform transactions with the government and other securities determined by the legislation of the Kyrgyz Republic;

- place means of pension accruals in the assets permitted by the legislation of the Kyrgyz Republic;

- buy and sell the securities issued by National Bank of the Kyrgyz Republic;

- create reserve fund for ensuring financial stability of Social fund, and also fund of development of Social fund;

- raise borrowed funds;

- make claims or take other legal actions necessary for protection of interests of Social fund;

- the paragraph the eighteenth parts 1 of Article 3 ceased to be valid according to the Law of the Kyrgyz Republic of 03.08.2015 No. 212

- obtain the data necessary for implementation of activities of Social fund from state bodies of the Kyrgyz Republic;

- participate in accordance with the established procedure in international cooperation, development and implementation of international treaties which participant is the Kyrgyz Republic, concerning pensions and benefits;

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