ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of July 25, 2014 No. 706

About approval of Rules of determination of the minimum size of reserve of the Pension Fund of the Russian Federation on mandatory pension insurance

According to article 6 of the Federal law "About Guaranteeing the Rights of Insured Persons in System of Mandatory Pension Insurance of the Russian Federation during the Forming and Investment of Means of Pension Accruals, Establishment and Implementation of Payments at the expense of Means of Pension Accruals" Government of the Russian Federation decides:

1. Approve the enclosed Rules of determination of the minimum size of reserve of the Pension Fund of the Russian Federation on mandatory pension insurance.

2. This resolution becomes effective since January 1, 2015.

Approved by the Order of the Government of the Russian Federation of July 25, 2014 No. 706

Rules of determination of the minimum size of reserve of the Pension Fund of the Russian Federation on mandatory pension insurance

1. These rules provide procedure for determination by the Pension Fund of the Russian Federation (further - Fund) the minimum size of reserve of Fund for mandatory pension insurance (further - reserve).

2. Determination of the minimum size of reserve of Fund it is performed for the purpose of factual determination of approach of warranty case concerning reserve of Fund, and also the amount of warranty compensation.

3. The minimum size of reserve of Fund as of December 31 of accounting year is (inclusive) determined by Fund annually, no later than April 1 of the current year, by formula:

                       MRR on 31.12.i years = SSChA on 31.12.i years x 0,005,

where:

MRR on 31.12.i years - the minimum size of reserve of Fund as of December 31 of accounting year (inclusive);

SSChA on 31.12.i years - average cost of the net assets which are in trust management according to all trust management agreements of means of pension accruals, means of payable reserve and means of pension accruals of insured persons which establishes due retirement benefit, for accounting year;

0,005 - coefficient for determination of the minimum size of reserve of Fund.

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