Open Pension Fund Social Standard / Social Standard // Kinto, In

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Open non-governmental pension fund (NPF) SOCIAL STANDARD is an (not-for-profit) association of businesses founded and acting based on the Law of Ukraine on Provision of Non-Governmental Pensions and on other regulatory non-governmental pension’s decrees. The purpose of the Fund is to provide its participants with supplementary pensions and secure the protection of funds assets from inflation. Any business or individual entity could become a participant of the fund. Reliability of the fund is assured by: · an independent annual audit of non-governmental pension activity; · quarterly reports by the personnel servicing the Fund; · control by governmental authorities over the activities of the personnel servicing the Fund; · overseeing of the Fund by the Fund’s Board; · strict observance of the regulatory requirements and other executive provisions related to the composition and structure of the pension assets. Please consider five reasons why YOU should participate in the non-governmental pension provision program: 1. Tax benefits: According to the current tax regulations, a corporate contributor is entitled to the following benefits: · to treat pension contributions made for the benefit of the company’s employees as company’s gross expenses (which means that income tax savings equal to 25% of the amount of total contribution); · the pension contributions made for the benefit of the company’s employees are exempt from obligatory social security contributions to the Labour Compensation Fund (depending on type of business, which implies over 37% savings on obligatory social security contributions). An individual contributor is entitled to the following benefits: Pension contributions made for one’s own benefit are exempt from individual income tax in the amount equal to the amount of the monthly living wage for the employed individual as established on January 1 of the fiscal year multiplied by 1.4; Pension contributions made for family members are exempt from individual income tax in the amount equal to the 50 % amount of the monthly living wage for the employed individual as established on January 1 of the fiscal year multiplied by 1.4. 2. Implementation of social programs: Through participating in the Pension Fund the corporate contributor will get an opportunity to: · improve employees’ social security program; · redistribute a portion of funds designated for increasing wages into the pension fund; · allocate a portion of the company’s contractual social liabilities as pension provisions; · apply the most flexible approaches possible to developing social security packages for different categories of employees with the aim of differentiating the level of pension contributions to the non-governmental pension fund. 3. Re-investment of accumulated pension contributions: A legal entity – corporate contributor can refinance a portion of contributions to the pension fund by attracting the accumulated funds into securities (shares or bonds) issued by this contributor. 4. Adopting a human resources policy Through applying various pension mechanisms, the corporate contributor is able to employ differentiated approaches in setting the level of pension payments for company’s employees in respect of their age, experience and other indicators of the worker’s value for the company. SOCIAL STANDARD utilizes 9 pension schemes: 6 for corporate contributors and 3 for individual contributors. 5. Protection of the pension fund By law, the entire accumulated amounts are considered as owned by participants as soon as the contributions arrive in the individuals’ pension accounts. The NPF cannot be pronounced bankrupt. The NPF cannot be held responsible for liabilities of the founders or of those who provide services to the fund. Recovery of contributors’ liabilities cannot be enforced by way of the NPF. The custodian bank and Financial Services Commission carry out monitoring of the adequacy of the Fund’s utilization and allocation of pension contributions. Open Pension Fund SOCIAL STANDARD, complying with all legal requirements, is managed by prudent and experienced financial specialists. The Fund is to be serviced by the following professional participants in the financial market: The pension assets are to be managed by OJSC KINTO , Asset Management. Founded in 1992, KINTO is today recognized as a leader in the Ukrainian stock market, being an active player in the stock market’s establishment and development. Carrying out asset-management activities for investment funds and non-governmental pension funds, KINTO offers the expertise, competence and experience of its team of professionals as well as a wide range of investment strategies. Top financial indicators achieved by investment funds managed by KINTO provide assurances that non-governmental pension funds asset-management will be just as successful. Administrator of the Fund: Centre of Personified Records — a company set up by Kvazar-Micro Techno . (Limited Liability Company “Administrator of pension fund "Centre of personificate processing"). Kvazar-Micro Corporation is one of the largest IT-companies and leading developer of solutions and service-providers in information, communications, and management technologies. The company is ready to provide modern software for supporting operations of non-governmental pension funds. Custodial of the Fund: OJSC International Commercial Bank. OJSC International Commercial Bank licensed for depository activities of securities custodian by State Securities and Stock Market Commission has been operating in financial markets for more than 16 years. Since 1999, the Bank is subject to annual financial audit in compliance with international accountancy standards. If you are interested in the Open Pension Fund SOCIAL STANDARD, please feel free to contact our consultants at tel: + 38 (044) 246-73-50, 246-74-34. We look forward to welcoming you as our clients and partners! 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