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  • Provision of pensions

The experience of the countries with a reformed pension system defines that the most effective is non-governmental accumulative provision of pensions that enables to form working part of the future pension which is competitive by amount with the basic one and sometimes exceeds it. The creation of non-governmental pension fund enables not only to accumulate pension assets with a period of investment activity equal to 20-30 years, which is advantageous for establishments, but also to solve social issues of providing citizens of pension age with considerable pensionary means.

Under the existing legislation the pension system will include three levels. The first – solidary system of pension insurance, which will be obligatory and will admit pension assignment depending on the insurance period. The second – accumulative system of obligatory state insurance based on the principles of means accumulation of the insured in the accumulative fund, which will be introduced by stages starting from 2007. The third level – covers complementary pension provision by non-governmental pension funds (further on – NPF), insurance companies and pension deposit accounts in banks.

Non-governmental pension fund – nonprofit organization. The main goal of NPF – accumulation of pension means of the citizens. The NPF quality control is carried out by state authorities servicing the fund activity. These authorities include administrator, asset management company, depositary (bank), being independently the additional guarantor of the pension means protection of the NPF members.

Non-governmental pension fund permits the NPF members (physical bodies) to accumulate future pension payments. For the establishments – depositors the participation in NPF permits to reach "economic effect", connected with preferential taxation, forming complementary system of social protection of the employees and partial financing of the production.

To develop the system of institutes of common investment and non-governmental pension provision, with the participation of OJSC "Megabank" in 2003 Assets management company TOV "Fund company "Investa" was established. In 2003 a share venture fund was registered with assets management by TOV "FC "Investa". The company has the license DKCPFR for assets management of the institutes of common investment and non-governmental pension funds (License DKCPFR series AA №770212, issued 05.07.2004).

OJSC "Megabank" has made a decision concerning the participation in the system of non-governmental pension provision (further on – NPP) and celebration of contract for rendering services, as depositary of the open NPF "Ukrainian pension contract". A developed branch network of the bank enables to serve the members of NPF not only in Kharkiv and Kharkiv oblast, but also in other regions of Ukraine.

For additional information turn to:

30 Artyoma Street,
61002, Kharkiv
Main Department of Securities and Share Market
tel. (057) 714-33-62; fax.: (057) 714-06-12