The Central Bank imposed a temporary ban NPF “Time” on a number of operations

MOSCOW, November 2. The Central Bank of Russia has imposed a ban on non-state pension Fund in a number of operations for a period of six months. This was reported in the press release of the CBR.

In particular, temporarily prohibits the conclusion of new pension agreements and compulsory pension insurance, transactions by self-placement of funds from pension reserves and the performance of obligations under such transactions, and the transfer of funds from pension reserves and means of pension accumulation in trust management to managing companies.

However, the ban on the deduction of funds from account containing the funds of pension reserves or pension funds, except for funds withdrawal for the payment of an occupational pension, funded pension payments to the successors of physical persons and the transfer of funds (part of funds) of maternity (family) capital in connection with refusal of the insured person from forming of funded pension, or in the event of death of the insured person.

It is noted that the basis for the decision was the failure of the NPF “Time” requirements by the Central Bank on elimination of violations and the improper performance of the requirements of the Central Bank on the submission of information necessary to carry out the functions of the said body.