2. What Does Pension Fund Mean?
A fund established by an employer to
facilitate and organize the investment of
employees' retirement funds contributed by
the employer and employees. The pension
fund is a common asset pool meant to
generate stable growth over the long term,
and provide pensions for employees when
they reach the end of their working years
and commence retirement.
4. Functions of Accumulative Pension
Fund:
• collecting obligatory pension
contributions
• keeping pension accounts of
depositors and pension
payments
• pension asset management
(by license)
5. A c c u m u la t iv e p e n s io n fu n d s c a n b e
O pen C o r p o r a te
All accumulative pension funds are created in
corporation form of organization.
Accumulative pension fund cannot be stockholder
of any other accumulative pension fund.
7. Depositor
Depositor
Depositor
Accumulative
Depositor
Accumulative Pension Fund
Pension Fund
Depositor
Accumulative
Accumulative Pension Fund
Depositor Pension Fund
Depositor
8. Types of pension contributions
1. Obligatory pension contributions - required for
paying in accumulative pension fund, are fixed in the
amount of 10% of employees monthly income.
2. Voluntary pension contributions to accumulative
pension funds are entered by depositor — physical
person — in depositor’s favour from his income.
Rate of voluntary pension contributions, its payment
procedure and pension payments procedure are
established according to agreement between both
sides of contract.
3. Voluntary professional pension contributions are
implemented by depositor from his own sources in
favour of employees. Rate of voluntary professional
pension contributions is established according to
agreement between both sides of contract excepting
rate more than 10 % of employees monthly income.
9. At the beginning pension age
(male - 63/ female - 58)
depositor can choose one of the
methods of pension payments
p e n s io n p a y m e n t s
b y a c c u m u la tiv e p e n s io n fu n d b y in s u a ra n c e c o m p a n y
10. pension contributions
investments in
financial instruments
(FSA list)
investment revenues
pension payments
Pension assets
reimbursement of losses
transfer of pension funds
minus commission into another accumulative
interest of accumulative pension fund or
pension fund insurance company
11. Pension in Switzerland
age ( male 65, female 64)
The size of the future pension
from the state≈ from 7800 up to 48
300 Swiss francs a year.
Deductions from the wages from 2
up to 4 % on the personal account
and 1 % on indexation of pensions to
citizens who already receive it.
Besides this everyone working on
hiring can also insure itself
personally, having opened in any
commercial bank the corresponding
pension account.
12. PENSION SYSTEMS OF THE USA
S o c ia l a n d in v e s tm e n t r o le
s t a t e p e n s io n s y s t e m s p r iv a t e p e n s io n s y s t e m s
13. The social role
The investment
role
For two thirds
aged the state
The investment
pensions make
of means can
half and more
carry out only in
than their income
the state
securities.
14. The largest state
pension system of the
USA, the so-called
General federal
program - Social
Security, covering
almost all borrowed in
a private sector of
economy, is
constructed by a
distributive principle.
15. A c c u m u la t iv e p e n s io n s y s t e m s c a n b e
d e fin e d c o n t r ib u t io n p la n d e fin e d b e n e f it p la n
16. The great mass borrowed in a private
sector of economy also has an
opportunity to participate in
additional not state pension systems,
organized in a place of work.
Besides participation in
group pension schemes,
organized in a place of work,
each American can open and
the personal pension
account –individual
retirement account