57/2012 Sb.
DECREE
of 16 December 2002. February 2012
on the minimum requirements of the Statute and the Statute of the Fund's local
the Pension Fund
The Czech National Bank establishes, pursuant to § 170 para. 1 of law No 427/2007 Coll.
on the supplementary pension savings, for the implementation of § 97 para. 8 (a). a) and b)
the Act on supplementary pension savings and, pursuant to section 110 of paragraph 1. 1 of law No.
426/2007 Coll., on pension savings, for the implementation of § 45 para. 8 (a). a) and
(b)) of the Act on pension savings:
§ 1
The subject of the edit
This Decree lays down the minimum requirements of the Statute of a participating fund
and status of the Pension Fund and their changes under the law on
the supplementary pension savings and pension savings Act are not subject to
prior approval by the Czech National Bank.
§ 2
The structure of the Statute of the local fund
(1) the Statute of the local pool is broken down, at least on the part of the relevant section
4 to 13.
(2) the details of the Fund required by local statute in section 13 may be put
in other parts of the Statute, if their substance-related. With regard to the
the information referred to in paragraph 4 (b). (c)), and (d)), section 5 (b). e), (f)) and i), section 7 (2). 1 and
in § 13 para. 3 (b). (c)), can be used in the appropriate section of the Statute of the local
the Fund, to refer to the annex to this Statute, in which there is such an indication
listed.
(3) if the nature of the case, some of the elements of the Statute precludes putting
Local Fund, the indication that its content closely matches the
the required formalities.
§ 3
The elements of the Statute of a participating fund
The necessities of the Statute of the Fund are local
and basic information about the participant's) Fund (§ 4),
(b) information about the pension company) (section 5),
c) investment objectives and how to fund local investments (section 6),
(d)) the risk profile of the twisted Fund (section 7),
e) information about the historical performance of a participating Fund (§ 8),
(f) asset management) policies in the directory of the Fund (para. 9),
g) information about the charge payable to the pension company and other charges (§ 10),
(h) information on the depositary) Participation Fund (§ 11),
I) information on the activities carried out through another person (section 12) and
j) for more information (section 13).
§ 4
Basic information about the participant pool
Basic information about the participating fund are
and the name of the local Fund) ^ 1)
b) details of the decision that has been granted permission to create a
Local Fund ^ 2), including the designation of the authority that the decision
issued, issue date, reference number and date of acquisition of legal power
the decision,
(c) details of the person) of the auditor ^ 3),
(d) the exact designation of the address) of the website, through
which the participation Fund publishes information required by law, and
e) historical data on tier matters, in particular information about a merger or a
other transformations translates into higher.
§ 5
Information about pension company
Information about pension companies are
and the identification data of the person) of the pension company ^ 4),
(b)), the amount of capital and the repayment of capital,
(c)) date of occurrence,
d) details of the decision on the authorisation for activities involving the designation of the authority
that issued the decision, release date, reference number and date of
the decision and its subsequent amendments,
(e) a list of the heads of the people) with an indication of their functions,
f) data on main activities of the heads of the people, who carry out
pension company, if they have a meaning in relation to the activities of the pension
the company or the local obhospodařovanému pension fund
companies,
g) data on the subject of business and services
h) information about the consolidation, which is the pension company
part of, and
and a list of participating funds) and pension funds whose assets
pension company manages.
§ 6
Investment objectives and how to fund local investment
(1) information on the investment objectives of the Fund include the local
concise description of the objectives, the participation Fund monitors and, where
applicable, in particular the specification of the guarantees provided by third
persons for the purpose of protection of the participants and the limitations of those guarantees.
(2) information about how to fund local investments include
and a more detailed indication of a participating Fund) by type of asset
which invests ^ 1), for example, the participation Fund, stock or participation
Bond Fund,
(b) the detailed definition of the species) of the assets in which the Fund invests, the participation
including the investment limits, if they are determined,
(c)) according to the nature of the relevant assets, to which the participation Fund
invests,
1. the most widely used types of financial derivatives ^ 5), their
economic characteristics, the purpose of their use and the placing of the conversion
where the derivatives are admitted to trading; Fund
notifies the individual risks associated with these investments are
described in the risk profile of the Fund;
2. indication whether the Fund shall repurchase transactions or securities borrowing
the conditions for the selection of counterparties to these transactions and characteristics of securities
securities may be subject to these shops,
3. the maximum limit of open positions related to the financial
derivatives ^ 6)
4. the maximum limit for investments in investment securities ^ 7) and
money market instruments ^ 8) under § 103 para. 5 to 7 of the law on the supplementary
pension savings, issued by one person and the identification of their issuers,
5. the authorisation of the Czech National Bank to invest in investment securities
Securities and money market instruments under the conditions laid down in section 104
the Act on supplementary pension savings and a description of the conditions of the
laid down in section 104 of the Act on supplementary pension savings,
6. the maximum limit of the investment securities of a new issue ^ 9),
d) kinds of bonds or similar securities representing right
the repayment of the amounts due according to the category of their issuer, for example,
Government bonds, municipal bonds, bonds issued by the business
companies, the maximum weighted average maturity of the bond
portfolio and requirements for the evaluation of quality held by bonds (rating),
(e)) for more details on how to invest, according to which participation
the Fund concentrates its investments in a particular industry, State or
the region, other parts of the market or a specific type of asset,
(f)) detailed information on the collateral in the event that the return on invested
resources, parts thereof or the yield therefrom, shall be secured
(guaranteed funds), and an indication of how it will be achieved, the collateral
(g) an indication of the responsibilities of a participating) Fund to invest in investment
securities issued by the company that it pension manages,
or a person belonging to the same group as the pension company,
(h) the obligations of the participant) indication of the Fund not to use assets in the Fund to
the provision of credit, loan, donation and ensure the commitment of the third party or
payment commitment, which is unrelated to the management of the participation Fund
pursuant to § 108 paragraph. 2 of the Act on supplementary pension savings,
even) an indication of the obligations of the local fund not exposed sales
pursuant to § 108 paragraph. 3 of the Act on supplementary pension savings and
j) the conditions under which the participation Fund accepts loans or loans,
If the Fund intends to receive loans or loans pursuant to § 108 paragraph. 1 of the law
on the supplementary pension savings, including the arrangements for their security.
(3) investment objectives and investment of the Fund include the local method
on the characteristics of a typical participant for whom it is intended, and
especially in terms of the participant's relationship to the risks associated with the way
Investment Fund and the level of his experience with trading
investment instruments.
§ 7
The risk profile of the Fund's local
(1) information on the risk profile of the participation Fund is based on the ratio
risks and yields, depending on how the investment of the Fund and provides
warning of the risks involved. It also contains information
Notice that the value of the participating units may fluctuate and that
It is not always guaranteed return on invested funds.
(2) the risk profile of the participation Fund is expressed above all
a synthetic indicator, which is based on historical volatility
the performance of the Fund. On the basis of the calculation of a synthetic indicator is Fund
classified to the appropriate category expressing the risk fund to the number
a scale consisting of the integers in ascending order of volatility
Fund from 1 to 7 from left to right.
(3) the method of calculation of synthetic indicators of a participating fund classification
Fund on a scale for the synthetic indicator to the appropriate category, change the
the inclusion of the Fund and the method for calculating the synthetic indicators of the Fund
the lack of data on its historical performance is given in the annex to this
the Decree.
(4) depending on the investment objectives and the way of investing
Fund risk profile contains a description of all the significant risks
in particular, the risk of
and currency, associated with) the movement of the currency exchange rate, including a description of how and
degree of protection against the currency risk,
(b)), namely credit that an issuer or counterparty fails to comply with
their commitment,
c) settlement, associated with the fact that the settlement of the transaction is unsuccessful,
as expected, for the reason that the counterparty does not pay or deliver the
investment vehicles within the prescribed period,
d) market, resulting from the effects of changes in the development of the overall market prices and
the value of individual assets in the assets of the Fund,
e) operating at a loss of influence, namely the shortcomings or failures
internal processes or human error or due to external events
and the risk of loss of assets held in custody or other custody
that may be caused by, in particular, insolventností, negligent or
willful act a person who is in the custody or other care
assets in the Fund,
(f)) related to the Fund's investment focus on certain economic
or part of the industry, a particular geographical region, a different part of the market, or
certain types of assets and
g) associated with the possibility that from the reasons stipulated by law may be
the participation Fund cancelled, mainly due to
1. the withdrawal of authorisation to create local fund ^ 10), the request for withdrawal
enable local Fund ^ 11),
2. cancellation of the pension company with liquidation ^ 12) or by decision of the
the Court of ^ 13).
§ 8
Information about the historical performance of a participating fund
(1) information on the historical performance of a participating fund are listed in
the form of a bar chart showing annual income after tax for the
last at least 10 consecutive years.
(2) the calculation of the value of the historical performance of the funded its own
equity after deduction of the remuneration for the management and assessment of remuneration for
the assets of the Fund in a directory.
(3) information about historical performance does not include performance data
Local Fund for the year in which the notice published or has
publicly available.
(4) in the case that the participation Fund is there for less than 10 years,
However, for longer than 1 year, the annual revenue for all years
its existence. If for some period, data are not available,
shall be in the appropriate section of a bar diagram without a record date
performance.
(5) since the inception of the Fund has passed local or create a less than
1 year, give notice of a lack of data, which would be a participant in
they can provide information about the historical performance of a participating fund.
(6) If, during the period of the display in a bar diagram based on the
paragraph 1 or pursuant to paragraph 4, there has been a material change in investment
the objectives of the investment fund or the manner of the twisted, which affected his
performance, in a column chart and the period preceding this
change. Information relating to this period make up explanations that
the performance was achieved in other circumstances.
(7) the bar diagram is accompanied by a warning that the data used
refer to the past and that past performance is not a reliable indicator of
future returns.
§ 9
Principles of the management of the property of the participant pool
Policy management of the assets in the Fund participant shall in particular include
and) the definition of the accounting period,
(b)) the rules and deadlines for the valuation of assets and liabilities ^ 14)
(c)), the rules for calculating the current value of the pension of the unit and
(d) the crediting and) rules for the depreciation of pension units.
§ 10
Information about the charge payable to the pension company and other fees
Information about the charge payable to the pension company and other fees are
and) determining the cost of pension and of the company for management
the assets in the Fund, including details of the limit under section 60(1). 3 of the law on
the supplementary pension savings,
(b)) way to determine and amount of remuneration for the company's pension
the assets in the Fund, details of the limit under section 60(1). 4 of the law on the supplementary
pension savings and details on other conditions for entitlement pension
company on the consideration for the appreciation of the assets in the Fund pursuant to § 60 para. 5
and 6 of the Act on supplementary pension savings and
(c) information on one-off charges) from a participant that can
pension company claim pursuant to section 61 of the Act on supplementary pension
savings.
§ 11
Information on the depositary of a participating fund
Information on the depositary of a participating fund are
and the identification data of the person) of the depositary ^ 4),
(b) a description of the basic characteristics of the activities) of the CSD, including the definition of
in particular, its responsibility for the custody and control of the assets in the Fund,
even if the depositary has entrusted the performance of the activities of another person, and
a description of the extent of the conferral of this activity to another person and
(c)) the data on persons who have entrusted with the custody or control of the depositary
the assets in the Fund.
§ 12
Information about activities carried out by other persons
If the pension company entrusts another person power management
the assets of the Fund in a directory, or part of the assets of the Fund, to provide the following
information
and what part of the data) of the assets in the Fund shall be entrusted to the management of other
person, and further indication of the relevant parts of the assets in the Fund,
(b)) this identifying information about another person, and
c) indication of the principal activities such person performs.
section 13 of the
For more information
(1) additional information is information about the status of local Fund and
additional information about participating in the Fund.
(2) information on the status of participation of the Fund are
and adoption and) rules for the amendment of the Statute and the manner of the Statute
and its amendments,
b) warning that next to the Statute of the participation Fund also publishes communication
key information ^ 15) and that the information referred to therein shall be in accordance with the
the information contained in the Statute,
(c) the designation of the authority or person) in the framework of the pension company, to whose
the scope of the approval of the Statute and its belongs changes, and
(d) the date of the signature of the current version of) of the Statute, a statutory body or a member of the
statutory authority, under his name, surname and function which in
pension company performs.
(3) additional information on the participant of the Fund are
a) information about the conditions under which it may be decided on the abolition of
Participation Fund, upon request or ex officio, or merge
a participating fund or the conversion of a participating fund, including the time limit, in
What will participants be informed of the procedure for canceling, merging Fund
or the transfer of the Fund,
(b) notification of rights of the participants), pursuant to section 135 of the Act on supplementary
pension savings,
(c)) the contact point, where it is possible, if necessary, to obtain the
additional information (address, phone, email address, address
the website),
d) basic information about the tax regime that applies to the participation
the Fund,
(e) the method and frequency of publication) reports on the management of the Fund,
f) data on the Czech National Bank as the supervisory authority pursuant to § 141 para. 1
the Act on supplementary pension savings and
g) warning participants that enable the creation of a Fund, the exercise of supervision
and the approval of the Statute of the Czech National Bank is not a guarantee of return
an embedded resource or the performance of the Fund, they could not exclude the possibility of
violations of the legal obligations or the Statute of pension companies,
by the depositary or another person, and do not guarantee that any damage caused by
such a breach will be replaced.
§ 14
Amendment of the Statute not subject to prior approval by the Czech National Bank
Changes the Statute of local fund not subject to previous
the approval of the Czech National Bank, the changes are
and) basic information about the Fund under section 4 (b). b) to (e)),
(b) information on the pension company) pursuant to section 5 (b). (b)) to (i)),
(c)) and the way the investment goals of investing according to § 6 paragraph 1. 2 (a). (h)), and
I),
(d)) of the synthetic indicators under section 7,
(e)) of a bar diagram in accordance with § 8,
f) information about the depository under section 11 (b). a) and (c)),
g) information on the activities carried out through another person under section
12 (a). (c)),
h) other information pursuant to § 13 para. 2 (a). (c)), and (d)) and § 13 para. 3
(a). (c)), d) and (f)),
I) references to legislation invoked their changes under the conditions
referred to in § 97 para. 6 (a). (c) the Act on supplementary pension)
savings, and incremental changes to the data on persons referred to in the Statute, in particular
change of registered office, business, the official change of name or last name, and
j) other information and data that are not minimal necessities
the Statute laid down by this Decree.
§ 15
The elements of the Statute of the Pension Fund
(1) the provisions of § 2 and § 6 para. 1 and 3 and § 7 to 14, in the case of
the Pension Fund shall apply mutatis mutandis.
(2) if the provisions of this Decree States
and the law on supplementary pensions) savings, this means in relation to the
Pension Fund Act on pension savings,
(b) the participant's supplementary pension savings), means, in relation to
Pension Fund participant in the pension plan.
c) unit, this means in relation to the retirement pension fund
unit.
(3) information on how the investment of the Pension Fund of contain
the nature of the relevant assets in which pension fund invests,
and) indicate that this is a pension fund of government bonds
conservative Pension Fund, balanced pension fund or dynamic
the Pension Fund,
(b) the most used types) enumeration of financial derivatives ^ 16), their
economic characteristics and purpose of their use; the Fund notifies the
individual risks associated with these investments are described in
the risk profile of the Fund;
c) indication of whether the Fund shall repurchase transactions or securities borrowing
the conditions for the selection of counterparties to these transactions and characteristics of securities
securities may be subject to these shops,
(d)) the maximum limit of open positions related to the financial
derivatives ^ 17),
(e)) the maximum level of investment in investment securities and instruments
money market instruments pursuant to § 53 para. 5 to 7 of the Act on pension savings,
issued by one person and the identification of their issuers,
(f)) the maximum level of investment in securities for collective investment,
g) types of bonds or similar securities representing right
the repayment of the amounts due according to the category of their issuer, for example,
Government bonds, municipal bonds, bonds issued by commercial
companies, the weighted average maturity of the bond portfolio and the
requirements for the evaluation of quality held by bonds (rating),
(h)) for more details on how to invest, according to which the Fund will
concentrate its investments in a particular industry, State or
the region, other parts of the market or a specific type of asset,
even) the obligations of the Pension Fund to invest in investment
securities issued by companies or belong to a pension
a person belonging to the same group as the pension company,
j) indication of the obligation not to use the pension fund assets in the Fund to
the provision of credit, loan, donation and ensure the commitment of the third party or
payment commitment, which is unrelated to the management of the Pension Fund of the
pursuant to § 57 para. 2 of the Act on pension savings,
to) an indication of the obligations of the Pension Fund do not uncovered sales by
§ 57 para. 3 of the Act on pension savings and
l) the conditions under which the Pension Fund accepts loans or loan, if
the Fund intends to receive loans or loans pursuant to § 57 para. 1 of the law on
retirement savings, including the arrangements for their security.
section 16 of the
The effectiveness of the
This Decree shall take effect on the date of publication with the exception of the provisions of §
15, which shall take effect on 1 January 2000. January 1, 2013.
Governor:
Ing. Singer, Ph.d., v. r.
Annex
The method of calculation of the synthetic indicators and related rules
[To section 8, paragraph 2]
1. calculation of synthetic indicators of a participating fund is based on the
the following criteria
and) synthetic indicator is based on the historical volatility of performance
the Fund,
(b) the historical performance) is calculated on a weekly or monthly
intervals for at least the last 5 years of the existence of the Fund,
c) volatility Fund is calculated and allocated on an annual basis by using this
the standard methods:
2. on the basis of the calculation of synthetic indicators of the participation Fund is included
on the scale for a synthetic indicator to the appropriate category, which
It expresses the level of risk of the Fund:
+--------------------+---------------------------------------+
| Risk fund | Intervals of volatility |
| +-------------------+-------------------+
| | equal to/over | less than |
+--------------------+-------------------+-------------------+
| 1 | 0% | 0.5% |
| 2 | 0.5% | 2% |
| 3 | 2% | 5% |
| 4 | 5% | 10% |
| 5 | 10% | 15% |
| 6 | 15% | 25% |
| 7 | 25% | |
+--------------------+-------------------+-------------------+
3. change in classification of a participating Fund on a scale for synthetic
the pointer is performed when
and the Fund's volatility interval) was out of the category of expressing
risk of the Fund on the basis of each weekly or monthly
a reference calculation of volatility over the last 4 months,
(b) risk Fund) the change is the result of the decision of the pension company
about changing the investment objectives and how the investment of the Fund or local
the risk profile of a participating fund.
4. If a participating Fund's volatility over the past 4 months
matches on a scale more risk groups, the appropriate
the category that corresponds most weekly, or monthly
reference calculations during the last 4 months of volatility.
5. The participation Fund that for the calculation of a synthetic indicator does not
enough data about their historical performance,
and relevant data available) is used on its historical performance,
(b) ") indicates the characteristic reference portfolio based on its
investment objectives and how investment,
(c) the historical performance of the characteristic) counts the model portfolio from
beginning of the period required by point 1(a). and) until the date of the
which the Fund has its historical performance data and connects all
This data, in order to fulfil the requirement of the volume of data for at least the last 5
years of the existence of the Fund and the Fund's annual volatility estimates using the standard
methods referred to in point 1 (b). (c)).
1) section 95 of the Act No 427/2007 Coll. on supplementary pension savings.
2) § 96 para. 1 of law No 427/2007 Sb.
3) § 2 (b). e) of Act No. 93/2009 Coll. on Auditors and amendment to certain
laws (the law on Auditors), as amended by Act No 227/2009 Coll. and act
No 139/2011 Sb.
4) § 3 (b). (f)) Law No 427/2007 Sb.
5) § 100 para. 2 (a). f) and (g)) of law No 427/2011 Sb.
6) § 102 paragraph. 2 of law No 427/2007 Sb.
7) § 100 para. 2 (a). and) Act No 427/2007 Sb.
8) § 100 para. 2 (a). h) Law No 427/2007 Sb.
9) § 100 para. 2 (a). (b)) Law No 427/2007 Sb.
10) § 153 of the Act No 427/2007 Sb.
11) § 111 of the Act No 427/2007 Sb.
12) § 69 para. 1 of law No 427/2007 Sb.
13) § 69 para. 2 of law No 427/2007 Sb.
14) § 115 of Act No. 427/2011 Sb.
15) § 134 and 135 of the Act No 427/2007 Sb.
16) § 48 para. 2 (a). (c)) and § 49 paragraph 1. 2 (a). c) of Act No. 426/2011
Coll., on pension savings.
17) 52 para. 2 Act No. 426/2011 Sb.
