The National Securities and Stock Market Commission presented the concept of the law on voluntary pension funds

The National Securities and Stock Market Commission presented the concept of a new draft law on voluntary pension funds. The document should reform the system of non-state pension provision and create a basis for the development of the funded pension system in Ukraine.

The concept was prepared within the framework of the FINMAR project, aimed at approximating Ukrainian legislation to the norms of the European Union and international standards of financial markets.

It provides for the implementation of European directives in the field of occupational pension provision, as well as strengthening the protection of pension savings of participants in the third pillar of the pension system.

One ​​of the key elements of the draft law should be a new model of pension asset management. It provides for the creation of a pension company with a corporate governance system, the introduction of internal control mechanisms and updated approaches to the activities of funds.

During the presentation, the mechanism for transforming existing non-state pension funds into voluntary pension funds in accordance with the new regulatory model was also presented. Guarantees for participants in pension schemes, the possibility of cross-border activities of funds and the peculiarities of the tax regime still require separate discussion.

Previously, the NSSMC approved a new version of the regulations on the conduct of activities for the administration of a non-state pension fund.