Questions / Answers

Questions / Answers (Q&A)

1. What is the upper age limit for being a member of the second pillar mandatory pension insurance?

Being a member of the second pillar pension insurance is mandatory for all who have the status of an insured person and are under 40 years of age.

2. Which documents from the Regos Registry are available to insured persons via e-services?

The Regos Registry provides the following documents via e-services free of charge:

  1. a statement of receipts and paid contributions for pension insurance (data from the JOPPD form of December 2013);
  2. excerpt from the Register (data from the R-Sm form up to 11 June 2013);
  3. confirmation of personal account balance and transactions;
  4. certificate of share ownership in the mandatory pension fund;
  5. copy of the applications for a mandatory pension fund;
  6. certificate of a mandatory pension fund membership;
  7. notification of the asset value in the personal account of the member of the fund.

Based on the online inquiry, Regos submits the requested document electronically and sends it to the e-mail address of the recipient.

3. My employer regularly pays my salary or has paid me another income (professional fee) but there are no funds on my personal account. What is wrong?

In this case there are several reasons why the funds are not in the personal account. First, maybe the employer did not submit the corresponding form (JOPPD) or did not make a payment. There is also the possibility that he did pay, but wrote a wrong beneficiary reference, so the funds could not be connected to the corresponding form and forwarded to the personal account of the employee. If the payment is incorrect, the employer submits a request to correct the beneficiary reference after which the amount from the temporary account will be forwarded to the personal account of the employee.

4. I am a self-employed taxpayer and I regularly pay for pension insurance based on individual capitalized savings, but there are no funds on my personal account. What is wrong?

In order for payments to be forwarded to a personal account, it is necessary that they are linked to the corresponding form, i.e. to the debt formed by the Tax Administration. As soon as these debts enter the Regos database, payments will be linked to the corresponding form and forwarded to the personal account.

5. Can I withdraw funds from my personal account?

No. The funds paid into your personal account are intended solely for the payment of the pension when the insured person meets the conditions determined by the Pension Insurance Act.

There is an exception in the case of death when the funds are subject matter to inheritance. If there are family beneficiaries, personal account funds become the subject matter of inheritance and may be paid to a person who is a legitimate inheritor upon the validity of the inheritance order.

6. What is the difference between a pension company and a pension fund?

A pension company may be a joint stock company or a limited liability company the primal activity of which is the establishment and management of pension funds.

The pension fund is completely separated from the pension company’s business.

It is a separate legal entity that is established for the purpose of collecting funds by paying contributions from members of the fund and investing that capital to increase the value of the assets in the pension fund. It is created for the purpose of securing the payment of retirement benefits to members of the pension fund. The pension fund is owned by its members and managed by the pension company.

7. What is the difference between mandatory and voluntary pension companies?

Mandatory pension funds operate under mandatory pension insurance based on individual capitalized savings (second pension pillar), while voluntary pension funds operate within the framework of the pension system as a voluntary pension insurance based on individual capitalized savings (third pension pillar). The mandatory pension fund insures those persons who are required to be insured under the mandatory pension insurance system on the basis of a pay-as-you-go system (first pillar). Therefore, pension funds are divided into three categories according to their membership and investment principles: A, B and C. The mandatory pension fund is managed by a pension company.

8. Where and how can I join a mandatory pension fund?

A mandatory pension fund can be selected at the Central Registry of Affiliates (REGOS), which is located at all offices of the Financial Agency (FINA). You need to present a personal ID, complete the official form and choose a retirement fund, i.e. a mandatory pension fund in which you want to pay part of your pension contributions. The place and mode of membership are the same for all mandatory pension funds in the country.

From April 26, 2019, a new electronic service: Mandatory Pension Fund (registration / change) is available.

OMF registration / change

The service includes the registration or change of mandatory pension company and mandatory pension fund category through the Internet (credential level 4).

9. How are contributions for farmers and craftsmen (independent contributors) paid?

Independent contributors are also required to choose a mandatory pension fund and they have all rights and obligations as the persons permanently employed by an employer. The only difference is that farmers and craftsmen pay contributions themselves, while employed persons have their employer to do so. Regos sends deposit slips to independent payers.

10. Why were A-B-C mandatory pension funds introduced?

The aim of ​​introducing pension fund categories was for the insured person to handle risky investments easier when entering the pension system, as opposed to long-term insured persons who believe investment security is more important than the return. When joining the pension system, a person has more time to retire and is more likely to recover from any losses. On the other hand, long-term insured persons prefer security of investment to earnings since they have a higher amount of funds saved and a shorter deadline to recover from possible losses.