INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of June 29, 2023 No. 6477-U

About the normative size of insurance reserve of non-state pension fund, procedure for its forming, procedure of assignments on its forming and procedure for its use

This Instruction based on paragraph two of Item 1 of article 20 of the Federal Law of May 7, 1998 "About non-state pension funds" and the subitem 4 of Item 2 of article 296 of the Tax Code of the Russian Federation establishes No. 75-FZ:

normative size of insurance reserve of non-state pension fund;

procedure for forming of insurance reserve of non-state pension fund;

procedure of assignments on forming of insurance reserve of non-state pension fund;

procedure for use of insurance reserve of non-state pension fund.

Chapter 1. The normative size of insurance reserve of non-state pension fund, procedure for forming of insurance reserve of non-state pension fund and procedure of assignments on its forming

1.1. The insurance reserve of non-state pension fund (further respectively - insurance reserve, fund) shall be created by fund in the amount of at least normative size of the insurance reserve constituting at least 5 percent from the smallest of the following sizes:

the size of reserves of covering of pension liabilities as of the beginning of accounting year;

the size of reserves of covering of pension liabilities as of the end of accounting year.

1.2. The insurance reserve shall be created by fund in the amount of, constituting as of each working day of every quarter the normative size of insurance reserve suffices.

The normative size of insurance reserve for each working day of the current quarter constitutes the size calculated by formula:

where:

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