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of January 27, 2005 No. 9

About approval and enforcement of the National accounting standard 26 "Accounting of pension plans"

In pursuance of provisions of the Order of the Government N 710 of September 3, 1994 "About the state program of transition of the Republic of Moldova to the international system of financial accounting and statistics" and based on the Law on the financial accounting N 426-XIII of April 4, 1995 PRIKAZYVAYU:

1. Approve the National accounting standard 26 "Accounting of pension plans".

2. Enact in the territory of the Republic of Moldova the National accounting standard 26 "Accounting of pension plans" for the financial statements relating to the periods since January 1, 2006.


Minister of Finance

Zinaida Grechany

National accounting standard 26 "Accounting of pension plans"



1. This standard "Accounting and the reporting under pension plans", accepted by Committee on MSBU in 1986 and reviewed in 1994 is developed on the basis of the International accounting standard 26.


2. The purpose of this standard is disclosure of method of accounting and reporting preparation about information on pension plans (funds) and their reflections in the financial reporting.


3. This standard extends on the legal entities and physical person registered in the Republic of Moldova and also to their branches, representations and other structural divisions located both in the territory of the Republic of Moldova and beyond its limits.

4. This standard is applied to reports:

a) pension plans with the established fees;

b) defined benefit plans;

c) pension plans or funds of pension plans (if those were based) in case of creation of this reporting;

d) pension plans which provide information to all participants of the plan who are considered by group;

e) separate funds which can be registered (or cannot) as the legal entity and which can have the manager of fund (or cannot);

f) the pension plans financed by the sponsors who are not employers;

g) pension plans which set up separate foundation as a part of insurance company in case when the contract with insurance company was not signed addressed to the individual member or group of pension plan participants

5. This standard is not applied to reports relatively:

a) fees and payments by budget funds of the national social insurance;

b) national pensions;

c) the special pensions granted before retirement age;

d) the benefits and compensations provided to some categories of the population (to persons who are looking after disabled people at home to disabled veterans, etc.) which payment is performed at the expense of means of the government budget;

e) some certain participants of the plan concerning their pension rights;

f) the expenses connected with pensions in the financial reporting of the employers having at the disposal of pension, the regulated NSBU 19 "The income of workers";

g) other forms of the income of workers, including:

- compensations issued to workers in connection with termination of the individual employment contract;

- unemployment benefits;

- benefits on medical insurance, etc.


6. In this standard terms of the following content are used:

Net assets of the pension plan - pension plan assets less the amount of obligations, others, than the actuarial discounted cost of receivable pensions.

The actuary - the independent specialist certified according to the current legislation that grants to it the right to make actuarial calculations and estimates.

Employer - the legal entity or physical person hiring persons based on the individual employment contract signed according to the current legislation, and undertaking to list fees in the pension plan on behalf of participants.

Fees - the money listed by the employer and/or the participant in the pension fund in order that it could cover future obligations on pension payment.

Actuarial assessment - set of the calculations and estimates made by the actuary for confirmation of opportunities of the pension plan concerning covering of obligations to the participants.

The pension fund - the independent organization created based on the pension plan for accumulating and cash management, enclosed voluntarily by the employer on behalf of the participant or to participants for payment of future pensions.

Manager of the pension plan (fund) - person, authorized to manage the pension plan.

The participant - person on behalf of whom the employer makes fees in fund and which has the right to pension.

Pension plans - the pension plans constituted based on the agreement and/or the charter and establishing rules of investment and funds accumulation for the purpose of guaranteeing pensions to workers (participants) throughout employment or after completion of work (retirement) by them as annual earnings or in the form of lump sum payment when these payments or fees of the employer can be determined or calculated to retirement according to the provisions established by the agreement or proceeding from practical skills of the subject.

Plans with the established fees - pension plans according to which the pensions which are subject to payment are determined on the basis of the fees made by the employer on behalf of participants in the pension fund and from income gained from investment of these fees.

Plans with defined benefits - pension plans according to which pension amounts, subject to payment, are determined proceeding from the income of participants and/or working life.

The guaranteed pensions - the pensions received by participants according to requirements of the pension plan and which are not caused by duration of their labor agreements.

The actuarial discounted amount of the expected payments which are due the pensiydiskontirovanny amount in accordance with the terms of the pension plan both for persons which reached retirement age and for the working persons depending on their working life.

Characteristic and classification of pension plans

7. Pension plans can have formal or informal character. The pension plan constituted usually on the basis officially of the signed agreements, and the neformalnympensionny plan which acquires some degree of obligation as result of practical activities of the employer is considered formal. Some pension plans allow employers to limit the obligations according to these plans, but, as a rule, to keep the workers employers do not cancel the pension plan. In both pension plans the same accounting methods and the reporting are applied.

8. Pension plans can provide creation of separate funds where there is accumulating of fees and from which pension payments are performed. Such funds can be operated by authorized litsamimenedzher of the pension fund.

9. Pension plans are subdivided on:

a) plans with the established fees;

b) plans with defined benefits;

c) the combined pension plans containing characteristics of both plans and treated by this standard as plans with defined benefits.

Plans with the established fees


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