NSSMC approved the Procedure for submission of the non-state pension provision reporting by the insurance organization

The NSSMC (National Securities and Stock Market Commission) approved the Procedure for submission of the non-state pension provision reporting by the insurance organization . 

“This document describes aspects of the reporting submission by the insurance companies in terms of non-state pension provision. After all, well-timed, clear and complete reporting is one of the essentials of quality market regulation”, Iraklii Baramiia, the Commissioner, says. 

Accordingly, the Procedure includes the reporting submitted by the insurer to the NSSMC, as well as the reporting submitted by the insurer to persons, who have concluded insurance contracts with the insurer in the non-state pension provision system. The legal act fully prescribes all the requirements for market participants, all these forms of certificates, reports, etc. 

It is important to note that the first reporting period for the preparation and submission of the non-state pension provision reporting is the first quarter of 2022. And the first reporting period for the preparation and submission of annual reporting submitted by persons who have concluded insurance contracts with the insurer in the non-state pension provision system is 2021.

At the same time, the Сommissioners recognized the Order of the State Commission for Regulation of Financial Services Markets of Ukraine №6817 On Approval of the Regulation on Disclosure by Insurers of Information on Insurance Contracts Concluded in the Non-State Pension Provision System dated 15.02.2007, registered with the Ministry of Justice of Ukraine on March 2, 2007 under №179/13446, as repealed. 

Currently, the Procedure for submission of non-state pension reporting by the insurance organization has been directed for the state registration to the Ministry of Justice of Ukraine. It enters into force from the date of its official publication.