Rights of the participants

All participants of NPF are equal in their rights, which is clearly defined in the statute of the Fund, required by law. Members are eligible:

  • simultaneously be a member of several non-state pension funds;
  • remain member of the Fund in case of termination of the pension contributions in his favor;
  • independently determine the date of the beginning of his retirement age, which can be less or more than the retirement age, which gives the right to obtain pension for obligatory state pension insurance, but not more than 10 years;
  • receive pension payments, the basis for which are:
    • Achievement by the Fund participant of retirement age;
    • Confession of the participant of fund an invalid;
    • Medically confirmed critical state of health (cancer, stroke, etc.) of the Fund participant.
    • Departure of the fund's participant for permanent residence outside Ukraine.
    • The death of the Fund participant.
  • independently determine the type of pension payment. Administrator of the Fund makes the following types of retirement payments:
    • pension for a specified period;
    • single pension payment.

     

    Frequency of pension payments for a specified period determined by the participant and calculated independently for at least ten years from the start of the first payment. During the period of pension payments for a specified period, members anytime can:

    • switch to another pension fund in order to further receive pension payments of the selected type. Pension fund to which switched the participant continues to pay such pension for the remaining time;
    • conclude a contract of life annuities insurance with the insurance company with the payment of such contract due to pension funds, which are accounted on individual pension account in the pension fund.

     

    Grounds for the single pension payment on demand of the Fund participant are:

    • Medically confirmed critical state of health (cancer, stroke, etc.) of the Fund participant or confession of the participant of fund an invalid;
    • The amount of pension funds, that are owned by the participant, does not reach the minimum amount of pension savings on the date of the beginning of retirement age, which is set by the state (in 2011 this figure was 45 000);
    • Departure of the fund's participant for permanent residence outside Ukraine;

    Pension payment is made once to the Fund participant’s heirs regardless of the amount accounted on the pension account of the participant of the fund in cases provided by law.

     

    Pension funds of the participant that are accumulated during the stay of one of the spouses in marriage are a joint property of spouses, unless otherwise is stipulated in the marriage contract. In the case of the distribution of pension funds as a result of the divorce, each of the parties determine the pension fund due to transfer her/her pension money.

  • to get free information once a year on the amount of participant’s own accumulated pension funds accounted on his individual pension account;
  • obtain a certificate on the amount of money that are accounted on the individual pension account by the date of achiving, specified by the participant, retirement age- to provide it to the insurance company in order to conclude the contract of life annuities insurance;

Created by Siter.in.ua