The Central Bank of appreil the Fund to conduct operations on the conclusion of new pension agreements and compulsory pension insurance due to the failure of the Fund regulations of the Bank of Russia on elimination of the violations.
MOSCOW, 2 Nov. The Bank of Russia has banned the NPF “Time” for six months to carry out some operations because of the committed and unresolved violations, is spoken in the message of the regulator.
In particular, it is prohibited to conclude new pension agreements and compulsory pension insurance, for transactions by independent investment of funds of pension reserves and the performance of obligations under such transactions, to transfer funds from pension reserves and means of pension accumulation in trust management to managing companies.
Central Bank also banned the Fund to deduct funds from account containing the funds of pension reserves or pension funds, with the exception of a non-state pension, funded pension payments to assignees and transfer of funds of the parent capital in connection with refusal of the insured person from forming of funded pension, or in the event of death of the insured person.
“The basis for the decision was the failure of the Fund regulations of the Bank of Russia on elimination of the violations, and improper execution of requirements of Bank of Russia on submission of information necessary to carry out the functions (powers) of the specified authority”, — stated in the message controller.
Head office NPF “Time” is located in Izhevsk. The Foundation began its activities in 1994, in 2004, the main founder of the Foundation is the government of the Udmurt Republic with a share of constituent contributions to 50.4%. The cumulative contribution of founders NPF “Time” is 120,31 million rubles.