a legal entity that provides professional services on the administration of non-state pension funds. The main functions of the administrator are to maintain personalized record-keeping of members, conclude pension contracts and perform pension payments.
periodic pension payments that are carried out at specified intervals until the time when a certain event defined in the relevant agreement occurs.
is a legal entity that carries out activities related to professional asset management on the basis of an appropriate license to conduct such activities.
a type of activities of professional stock market members that involves investing pension assets in various investment instruments: shares, bonds, real estate, deposits, gold, etc., in order to receive investment income to be distributed among the fund's members.
a person who pays pension contributions in favor of a member by transferring funds to a non-state pension fund in accordance with the terms of the pension contract. Both an individual and a legal person can be a contributor. If a contributor makes contributions in his/her favor, he/she is both a contributor and a fund member.
a non-state pension fund, the founder of which is a legal entity-employer or several legal entities-employers and to which employer-payers can join. Members of this fund can be exclusively natural persons who are (were) in labor relations with employers-founders and employers-payers of this fund.
is the placement of pension fund assets in various financial instruments and other assets in order to mitigate the risk of reducing their value. The level of diversification of assets of the pension fund characterizes the quality of the investment portfolio of the pension fund. According to the Law "On Non-State Pension Provision", there are clear requirements for investment directions and the structure of the NPF assets portfolio. Life pension (life annuity) - pension payments made by an insurance organization on the basis of a life pension insurance contract during the life of an individual from time to time after reaching the retirement age determined by the Law "On Non-State Pension Provision". After reaching the retirement age, the NPF member has a choice: to take a one-time pension payment (if he/she has the right to do so), to sign an agreement with the NPF on the payment of the pension for a specified period, or to conclude an insurance contract for a life-time pension.
is a document that defines the investment policy of a non-state pension fund, main directions and restrictions on investing assets of non-state pension funds.
a personalized account of a member of a pension fund that is maintained in the system of personified accounting in order to calculate pension funds accumulated in favor of the member.
an individual, in whose favor pension contributions to the pension fund (insurance organization, pension deposit account with banking institution) are paid and who has the right to the non-state pension provision on conditions and in accordance with the procedure specified in the pension contract (insurance contract, agreement on the opening of a pension deposit account).
a legal entity established in accordance with the Law "Non-State Pension Provision" that has the status of a non-profit organization (social business), operates and carries out activities solely for the purpose of accumulation of pension contributions in favor of members of the pension fund with the subsequent management of pensions assets, and makes pension payments to the members of the specified fund.
the difference between the value of assets of the pension fund on the day of the calculation and the total liability of the pension fund to be executed on the day of the calculation.
the estimated value of the pension contribution unit that is determined by dividing the net value of the pension fund assets by the total number of pension contribution units on the day of the calculation. The net value of the pension contribution unit on the day of the receipt of the first pension contribution by the pension fund is set in the amount of UAH 1.
is a non-state pension fund, members of which can be any natural persons, irrespective of the place and nature of their work.
a pension payment that is done only once: 1) if the amount of the member's assets at the time of the determination of the retirement age has not reached the established minimum limit (in 2018 — UAH 82,380); 2) in the case when a member moves to a permanent place of residence to another country; 3) in the case of disability; 4) in the case of a critical health condition confirmed by a medical report.
a bank that carries out depositary activities of the custodian of the fund's securities. The main duties of the custodian bank are the opening and maintenance of pension fund accounts, acceptance, transfer, accounting and saving of securities, as well as documents confirming the ownership of pension assets in other forms, checking of the calculation of the net value of pension fund assets and net value of the unit of pension contributions.
an indicator used to determine the amount of pension funds belonging to an NPF member and accounted at his/her individual pension account. The change in the value of this indicator reflects the change (increase or decrease) of each hryvnia paid by the member to the NPF. For example, if the net value of a unit of pension assets is 2 hryvnias, this means that each hryvnia paid to the NPF has doubled.
a monetary payment to a non-state pension member or his/her heirs that which is performed at the expense of money accumulated in a non-state pension fund and accounted in the personal pension account.
a document that defines the conditions and procedure for non-state pension provision of fund members.
an agreement between a pension fund and its contributor, according to which the non-state pension provision of the fund's member (members) is carried out under a defined pension scheme.
assets of a pension fund, insurance organization, banking institution, at the expense of which pension payments are made.
pension payments that are performed periodically over a specified period. The pension payment contract is to be concluded for the pension for a specified period, the minimum term of which is 10 years in accordance with the Law "On Non-State Pension Provision".
collection, processing, systematization and storage of information on members in non-state pension provision stipulated by the legislation on pensions and Law "On Non-State Pension Provision", data about determination of their rights to pension payments at the expense of funds accumulated in their favor and for calculation of the size of these payments.
a non-state pension fund, the founder(s) of which may be associations of legal entities-employers, associations of individuals, including trade unions (associations of trade unions), or individuals connected by the nature of their professional activities (occupation). Only individuals connected by the nature of their professional activities (occupation) defined in the fund's charter may be members of such fund.
an executive body of a fund established to provide management and control over the current activities of the fund. The Fund Board is formed of at least 5 persons who meet eligibility requirements.