How To Terminate An Agreement With A Non-state Pension Fund

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How To Terminate An Agreement With A Non-state Pension Fund
How To Terminate An Agreement With A Non-state Pension Fund
Video: How To Terminate An Agreement With A Non-state Pension Fund
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You should know how a non-state pension fund works. Usually it has the status of a non-profit organization, which includes the following areas of activity - non-state pension provision, pension insurance, as well as the ability to operate as an insurer in pension systems. If for some reason you are not satisfied with cooperation with the fund, is it possible to terminate the contract with it?

How to terminate an agreement with a non-state pension fund
How to terminate an agreement with a non-state pension fund

Instructions

Step 1

Write a statement to your pension fund, in which it is imperative to indicate what to do with the redemption amount in your account.

Step 2

Indicate the details of another non-state pension fund with which you plan to conclude an agreement, in this case you will receive the entire redemption amount with all contributions that you paid, as well as an additional amount of income received from the investment of pension reserves. You can also receive these funds at the bank, having previously indicated the details of the recipient's bank in the application.

Step 3

Remember, if you terminate the contract, you will incur some losses. You will receive income for an incomplete current fiscal year, and you will also have to pay personal income tax at a rate of 13% on income received from the placement of your pension contributions. In the event that the redemption amount is transferred to another pension fund, no taxes will be charged.

Step 4

Enter into an agreement with another fund or an agreement with an insurance organization, then the pension funds that have been accumulated in the depositor's accounts will be transferred to another financial institution at the expense of the depositor, that is, you will incur costs only when transferring your funds.

Step 5

Get all possible information about the new fund and only then conclude an agreement.

Be sure to pay attention to whether the new agreement indicates the possibility of making changes to certain parameters of the agreement after you have concluded it.

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