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The NSSMC (National Securities and Stock Market Commission) has adopted a Resolution regulating the functioning of non-state pension funds (NPFs) under martial law.

The NSSMC allowed to bring the composition of the boards of the NPF in line with the requirements of the Procedure for approving candidates for the board of the non-state pension fund within 90 days after the end of martial law.

If the term of the members of NPF boards has expired before or during martial law, and it is impossible to hold a meeting of the fund’s founders, their powers are extended for the period of martial law and up to 90 days after its end. This applies only to the right to conclude or prolong contracts with the company that manages the fund’s assets.

The Resolution comes into force from the moment of its publication on the official website of the NSSMC. You can read the text at the link.

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