of July 31, 2001 No. 80
About non-state pension funds in the Kyrgyz Republic
Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 29, 2001
This Law governs the legal and economic relations concerning creation, functioning, reorganization and liquidation of non-state pension funds in the Kyrgyz Republic and provides realization of constitutional rights of citizens on voluntary additional pension provision.
Operation of this Law does not extend to the relations arising when implementing the state provision of pensions. This Law cannot serve for restriction of the rights to voluntary pension social insurance.
Non-state pension fund (further - fund) - special form of business of non-profit organization of provision of pensions of citizens on voluntary basis.
The non-state pension fund functions irrespective of system of the state provision of pensions and in addition to it.
Exclusive type of activity of fund is voluntary non-state pension provision of physical persons on the basis of pension agreements.
Activities of fund consist in accumulation of pension contributions, accounting of pension liabilities, placement of pension assets for the purpose of their building-up and payment of non-state pensions to receivers.
The investor - the legal entity or physical person performing pension deposits to advantage of the receiver based on the pension agreement.
Diversification - the mandatory requirements on protection of assets of fund consisting in restriction of their placement for the purpose of protection against unreasonable and excessive risks.
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The document ceased to be valid since June 20, 2014 according to part three of article 38 of the Law of the Kyrgyz Republic of December 11, 2013 No. 216