PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 5, 2015 No. 502-P

Industry standard of financial accounting of transactions of the non-state pension funds connected with conducting activities by them as the insurer on mandatory pension insurance and activities for non-state pension provision

This Provision according to the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1 Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348, Art. 4357; No. 41 of Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3891; No. 27, the Art. 4225, the Art. 4273, the Art. 4295) and the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of October 30, 2015 No. 31) establish procedure for financial accounting by the non-state pension funds located in the territory of the Russian Federation (further - funds).

Section I. General provisions

Chapter 1. General provisions on regulation of financial accounting by funds

1.1. This Provision establishes requirements to reflection in financial accounting of transactions of the funds connected with:

conducting activities as the insurer for mandatory pension insurance according to the Federal Law of December 15, 2001 No. 167-FZ "About mandatory pension insurance in the Russian Federation" (The Russian Federation Code, 2001, No. 51, Art. 4832; 2002, No. 22, Art. 2026; 2003, No. 1, Art. 2, Art. 13; No. 52, Art. 5037; 2004 No. 30, Art. 3088; No. 49, Art. 4854, Art. 4856; 2005, No. 1, Art. 9; No. 45, Art. 4585; 2006, No. 6, Art. 636; No. 31, Art. 3436; 2007, No. 30, Art. 3754; 2008, No. 18, Art. 1942; No. 29, Art. 3417; No. 30, Art. 3602, Art. 3616; 2009, No. 1, Art. 12; No. 29, Art. 3622; No. 30, Art. 3739; No. 52, Art. 6417, Art. 6454; 2010, No. 31, Art. 4196; No. 40, Art. 4969; No. 42, Art. 5294; No. 50, Art. 6597; 2011, No. 1, Art. 40, Art. 44; No. 23, Art. 3258; No. 27, Art. 3880; No. 29, Art. 4291; No. 45, Art. 6335; No. 49, Art. 7037, Art. 7043, Art. 7057; 2012, No. 26, Art. 3447; No. 31, Art. 4322; No. 50, Art. 6965, Art. 6966; 2013, No. 27, Art. 3477; No. 30, Art. 4044, Art. 4070; No. 49, Art. 6352; No. 52, Art. 6986; 2014, No. 11, Art. 1098; No. 14, Art. 1551; No. 26, Art. 3394; No. 30, Art. 4217; No. 48, Art. 6659; No. 49, Art. 6915, Art. 6919; 2015, No. 1, Art. 72; No. 29, the Art. 4339), the Federal Law of May 7, 1998 No. 75-FZ "About non-state pension funds" (The Russian Federation Code, 1998, No. 19, Art. 2071; 2001, No. 7, Art. 623; 2002, No. 12, Art. 1093; 2003, No. 2, Art. 166; 2004, No. 49, Art. 4854; 2005, No. 19, Art. 1755; 2006, No. 43, Art. 4412; 2007, No. 50, Art. 6247; 2008, No. 18, Art. 1942; No. 30, Art. 3616; 2009, No. 29, Art. 3619; No. 48, Art. 5731; No. 52, Art. 6450, Art. 6454; 2010, No. 17, Art. 1988; No. 31, Art. 4196; 2011, No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7036, Art. 7037, Art. 7040, Art. 7061; 2012, No. 31, Art. 4322; No. 47, Art. 6391; No. 50, Art. 6965, Art. 6966; 2013, No. 19, Art. 2326; No. 30, Art. 4044, Art. 4084; No. 49, Art. 6352; No. 52, Art. 6975; 2014, No. 11, Art. 1098; No. 30, Art. 4219; 2015, No. 27 Art. 3958, Art. 4001; No. 29, the Art. 4357) (further - the Federal Law on non-state pension funds);

conducting activities for non-state pension provision according to the Federal Law on non-state pension funds.

1.2. This Provision is applied in case of recognition, classification, assessment of assets and liabilities of the funds arising in connection with the conclusion, change, early termination (termination) and the end of operation of agreements on mandatory pension insurance and agreements of non-state pension provision.

1.3. This Provision does not extend much reflections in financial accounting of the following transactions:

the transactions connected with investment of funds of pension reserves and investment of means of pension accruals including much recognitions and assessment of assets in which means of pension reserves are placed and means of pension accruals are invested;

transactions of assessment of the obligations of fund which are not connected with conducting activities for mandatory pension insurance and non-state pension provision;

transactions of forming of the authorized capital and cumulative contribution of founders;

the transactions connected taking into account the assets and liabilities connected with remuneration of workers;

paragraph of the sixth of Item 1.3 ceased to be valid;

the transactions connected with assessment of the built-in derivative financial instruments and deposit components;

calculation of the deferred tax assets and obligations resulting from conducting activities for mandatory pension insurance and non-state pension provision.

1.4. In this Provision terms in the values established in the Federal Law on non-state pension funds, the Federal Law of December 28, 2013 No. 400-FZ "About insurance pensions" are used (The Russian Federation Code, 2013, No. 52, Art. 6965; 2015, No. 27, the Art. 3964) (further - the Federal Law on insurance pensions), the Federal Law of December 28, 2013 No. 422-FZ "About guaranteeing the rights of insured persons in system of mandatory pension insurance of the Russian Federation during the forming and investment of means of pension accruals, establishment and implementation of payments at the expense of means of pension accruals" (The Russian Federation Code, 2013, No. 52, Art. 6987; 2014, No. 30, Art. 4219; No. 49, Art. 6919; 2015, No. 27, the Art. 3958, the Art. 4001) (further - the Federal Law on guaranteeing the rights of insured persons in system of mandatory pension insurance of the Russian Federation during the forming and investment of means of pension accruals, establishment and implementation of payments at the expense of means of pension accruals) and International accounting standards (further - IFRS).

Chapter 2. General requirements to financial accounting of agreements on mandatory pension insurance and agreements of non-state pension provision

2.1. The agreement on mandatory pension insurance or the agreement of non-state pension provision shall be reflected in financial accounting for date of emergence of agreement obligations.

2.2. In case of initial recognition of agreements the fund applies the following general requirements to financial accounting.

2.2.1. Carries out classification of agreements of non-state pension provision according to requirements of Chapter 3 this provision.

2.2.2. Determines availability in the signed agreements of non-state pension provision:

the built-in derivative financial instruments, need of their allocation and procedure for financial accounting according to requirements of Chapter 6 of this provision;

deposit components, need of their department and procedure for financial accounting according to requirements of Chapter 7 of this provision.

2.2.3. Reflects the income according to requirements of Chapter 11 of this provision (accounting entries of the table 6 of appendix to this Provision).

2.2.4. In case of need or decisions of fund based on this provision about allocation of the built-in derivative financial instruments and department of deposit components reflects obligations according to requirements Chapters 6 and 7 of this provision (accounting entries of the 1 and 6 table of 1 appendix to this Provision).

2.2.5. Reflects recognition of agreement obligations about mandatory pension insurance and to agreements of non-state pension provision according to requirements of Chapters 8 - the 10th this provision (accounting entry of 1 table 2, accounting entries of the 1 and 11 table 3 appendices to this Provision).

2.2.6. Ceased to be valid.

2.2.7. Reflects recognition of costs of fund for acquisition of agreements on mandatory pension insurance and agreements of non-state pension provision (further - acquisition expenses) and the corresponding deferred costs of fund on acquisition of agreements on mandatory pension insurance or agreements of non-state pension provision (further - the postponed acquisition expenses) based on provisions of accounting policy of fund and requirements of Chapters 13 and 14 of this provision (accounting entries of the table 8, accounting entries 1 and 2 tables 9 of appendix to this Provision).

2.3. In case of the subsequent recognition of agreements on mandatory pension insurance and agreements of non-state pension provision the fund reflects.

2.3.1. The income from agreements according to requirements of Chapter 11 of this provision (accounting entries of the table 6 of appendix to this Provision).

2.3.2. Obligations on the allocated built-in derivative financial instruments and deposit components according to requirements of Chapters 6 and 7 of this provision (accounting entries of the 1 and 6 table of 1 appendix to this Provision).

2.3.3. Reduction and increase in agreement obligations about mandatory pension insurance (pension accruals under agreements on mandatory pension insurance at stage of accumulating, the means of pension accruals created for benefit of legal successors of the died insured persons) and under agreements of non-state pension provision (reserve of covering of pension liabilities under the agreements of non-state pension provision classified as insurance, reserve of covering of pension liabilities under the agreements of non-state pension provision classified as receipts of additional benefits, investment with non-quaranteed opportunity (further - NVPDV), including classification change, according to requirements of Chapters 8 - the 10th this provision (accounting entries 1, of 2, of 25, of the 26th table 2, accounting entries 1, of 2, of 11, of the 12th table 3 appendices to this Provision).

2.3.4. Creation and use of insurance reserve under agreements of non-state pension provision according to requirements of Chapters 8, the 10th this provision (accounting entries 9, 10, the 20th tables 3 appendices to this Provision).

2.3.5. Charge and write-off of interest expenses on the allocated deposit components according to requirements of Chapters 7, 8, the 10th this provision (accounting entries 7, 8, the 9th tables of 1 appendix to this Provision).

2.3.6. Reduction of the postponed acquisition expenses according to requirements of Chapter 14 of this provision (accounting entries 3, 4 tables 9 of appendix to this Provision).

2.3.7. Ceased to be valid.

2.3.8. Distribution of result of investment of means of pension accruals and result of investment of funds of pension reserves according to Chapter 15 of this provision (accounting entries 3, 6, 11, 14, 19, 22, 27, 30, 35, the 38th tables 2, accounting entries 3, 6, 9, 13, the 16th tables 3, accounting entries of the table 4 appendices to this Provision).

2.3.9. Pension payment, the redemption amounts, including money transfer of pension reserves and pension accruals in other fund and the Pension Fund of the Russian Federation based on the requirement of insured persons, participants or investors, according to requirements of Chapters 8 - 10, the 12th this provision (accounting entries 2, 10, 18, the 26th tables 2, accounting entries 2, the 12th tables 3, accounting entries 1, 2, 4 tables 7 of appendix to this Provision).

2.3.10. The direction of own means or the property used for implementation of authorized activities on replenishment of pension reserves and pension accruals according to Chapters 8 - the 10th this provision (accounting entry of 41 tables 2, accounting entry of the 19th table 3 appendices to this Provision).

2.3.11. Payment of fees in the "Deposit Insurance Agency" state corporation according to requirements of Chapter 16 of this provision (accounting entry 2 tables 10 of appendix to this Provision).

2.3.12. Obtaining from the "Deposit Insurance Agency" state corporation of warranty compensation according to requirements of Chapter 9 of this provision (accounting entry 42 tables 2 appendices to this Provision).

2.3.13. The direction in reserve of fund for mandatory pension insurance of the differences formed according to this subitem (accounting entries of the table 5 of appendix to this Provision).

2.3.13.1 The size of means of pension accruals reflecting result of their investment as of December 31 of the year preceding year of allowance of the application of insured person about transition (the statement of insured person for early transition) is determined according to the procedure, established by the Bank of Russia, proceeding from means of the pension accruals which arrived in fund from the previous insurer, means of the pension accruals which arrived in fund from the effective date of the contract on mandatory pension insurance with fund, and also the amounts of warranty completion reflected in the retirement account of funded pension, and results of investment of means of pension accruals from the effective date of the contract on mandatory pension insurance with fund.

2.3.13.2. Upon transition of insured person from one fund to other fund or to the Pension Fund of the Russian Federation based on the statement of the insured face for early transition given before the expiration of four-year term since year of entry into force of the contract on mandatory pension insurance with fund, the fund with which the agreement on mandatory pension insurance is stopped shall transfer funds of pension accruals in the amount of, constituting smaller of the following sizes:

the size of means of pension accruals determined according to subitem 2.3.13.1 of this Item;

the size of means of pension accruals determined as the amount of means of the pension accruals which arrived in fund in case of entry into force of the contract on mandatory pension insurance with fund and means of the pension accruals which arrived in fund from the effective date of the contract on mandatory pension insurance with fund before date of such transfer.

2.3.13.3. Upon transition of insured person from one fund to other fund or to the Pension Fund of the Russian Federation based on the statement of the insured face for early transition given after four-year term since year of entry into force of the contract on mandatory pension insurance with fund, the fund with which the agreement on mandatory pension insurance is stopped shall transfer funds of pension accruals in the amount of, constituting smaller of the following sizes:

the size of means of pension accruals determined according to subitem 2.3.13.1 of this Item;

the size of means of pension accruals determined as the amount of means of the pension accruals determined in case of the last calculation according to article 36.2-1 of the Federal Law on non-state pension funds and means of the pension accruals which arrived in fund from date as of which such calculation, before date of such transfer was perfromed.

If the amount of means of pension accruals transferred by fund according to subitems 2.3.13.2 and 2.3.13.3 of this Item is less than the size of means of pension accruals, the specified difference determined according to subitem 2.3.13.1 of this Item, then means in the amount of are subject to the direction in reserve of fund for mandatory pension insurance (accounting entry of 1 table 5 of appendix to this Provision).

2.3.14. Result of investment of funds of pension reserves into the corresponding accounts of obligations for date of award of pension and for date of purpose of the redemption amount (accounting entries 4, 5, 7, 8, 14, 15, 17, the 18th tables 3 appendices to this Provision).

2.3.15. The income and expenses connected with detection of the facts of economic life connected with features of reflection of transactions under agreements on mandatory pension insurance and agreements of non-state pension provision and directly connected with such agreements of the transactions relating to the last accounting periods and having significant effect on accounting (financial) records of fund according to requirements of Chapters 11 - the 16th this provision.

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