ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of June 12, 2002 No. 407

About approval of Rules of accounting of the insurance premiums included in the settlement pension capital

According to article 20 of the Federal law "About Mandatory Pension Insurance in the Russian Federation" Government of the Russian Federation decides:

Approve the enclosed Rules of accounting of the insurance premiums included in the settlement pension capital and enact them since January 1, 2002.

Approved by the order of the Government of the Russian Federation of June 12, 2002 No. 407

Rules of accounting of the insurance premiums included in the settlement pension capital

1. These rules determine accounting treatment for the insurance premiums included in the settlement pension capital of insured persons in system of mandatory pension insurance (further hereinafter is referred to as - the settlement pension capital).

2. The settlement pension capital is base for determination of the size of insurance part of work pension and is created of the total amount of the insurance premiums and other revenues to financing of insurance part of work pension which arrived for insured person in the Pension Fund of the Russian Federation (further hereinafter is referred to as - Fund), and also the pension rights in terms of money acquired till January 1, 2002.

3. Accounting of the insurance premiums included in the settlement pension capital is performed by the insurer - Fund.

4. The insurance premiums which arrived in Fund on financing of insurance part of work pension are considered in the settlement pension capital by the accruing result.

5. As a part of the settlement pension capital the amounts of insurance premiums which arrived in Fund for insured person on financing of insurance part of work pension during the entire period preceding appointment or recalculation of pension are considered.

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