On Key Information. For The Participants Of The Supplementary Pension Savings

Original Language Title: o klíčových inform. pro účastníky doplňkového penzijního spoření

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=78428&nr=361~2F2012~20Sb.&ft=txt

361/2009 Sb.



GOVERNMENT REGULATION



of 17 May. October 2012



about the communication of key information for the participants of the supplementary pension

savings and retirement savings



The Government directs pursuant to § 170 para. 2 of law No 427/2007 Coll. on supplementary

pension savings and, pursuant to section 110 of paragraph 1. 3 of Act No. 426/2007 Coll.

retirement savings:



§ 1



The subject of the edit



This regulation regulates the



and) the details, structure, form and language requirements for observations

the communication of key information for the participants of the supplementary pension

savings and the communication of key information for the participants of the retirement savings

(hereinafter referred to as "the communication"), and



(b) the conditions and the method of continuous) update and the time limit for communication

public disclosure.



§ 2



Content of the communication



The communication contains only the data and information that this regulation establishes

or permits.



§ 3



The structure of the communication



(1) the communication shall be called "key information local fund" for

the participation Fund and name "key information to the Pension Fund" for

the Pension Fund.



(2) the communication is divided into 9 sections that contain the following information:



and) basic data relating to communication, participation, or retirement

the Fund and the data relating to the pension company that manages

the participation, or pension fund,



(b)) the main characteristics of the supplementary pension savings or

retirement savings,



(c) a description of the investment objectives) and how the investment of local or

the Pension Fund,



(d)) the risk profile of the Pension Fund, local or



e) information about the consideration and fees relating to the participation or

the Pension Fund,



f) information about the historical performance of a participating or retirement

the Fund,



g) information on the depositary, and other supplemental information for a directory

or pension fund,



h) information on the activities of the pension company's permit and the authorisation to

create a local or the Pension Fund and



(I) the date of publication of the communication).



§ 4



Language expression and display the communication



(1) the communication must be



and processed legible, in particular) in terms of the size of the font, and



(b)) expressed in a way that a participant understanding of his neznesnadňuje

content, and in particular its language must be clear and understandable, it cannot be

use of jargon and technical term, if it is possible, it must be replaced by the

generally known by the term of a comparable importance.



(2) the use of color must not restrict the readability, clarity and intelligibility

the content of a communication after his capture on paper.



(3) graphic design logos must not distract or lead.

from the contents of the communication or content overlap.



(4) the name of the communication, as well as the business name of the pension company and the name

local or the Pension Fund must be made significantly larger

font than the rest of the text of the communication.



§ 5



The physical form of communication



After the capture of a communication on paper has dimensions of communication of two sides of a single

a sheet of A4 portrait or landscape, and is lined with border

at least 3 mm, on which there is no text.



§ 6



The basic data



The name of the part of the first communication: "basic data". This part of the communication

contains



the participation Fund) for the introductory provisions, worded as follows: "in this communication

party or candidate will find key information about the Fund and the participant's

the supplementary pension savings. This is not a promotional communications; the provision of

This information is required by law. The purpose is for a party or candidate

better understand the way of investing in this Fund and local risks

the associated. For an informed decision whether to choose the participation

the Fund, to the participants and it is recommended with this communication

get acquainted. "



(b)) for the pension fund introductory provisions, worded as follows: "in this communication

party or candidate will find key information about the Pension Fund, and

retirement savings. This is not a promotional communications; the provision of such

information required by law. The purpose is to make the participant of, or lead to better

understood this way of investing the Pension Fund and the risks

associated. For an informed decision whether to choose the Pension Fund,

to the participants and interested parties are advised to become familiar with this notice. "



(c) the name of the local or) Pension Fund,



d) in the case that this is a participation Fund, other than the mandatory

Conservative Fund, an indication of its kind in terms of what

assets predominantly invested in,



(e)) the business name and identification number of the person the pension companies,

which manages the participation, or pension fund, where appropriate,

the name of the consolidated Group, which is included in the pension company,

or the logo of the pension company.



§ 7



Basic characteristics of supplementary pension savings or

retirement savings



(1) the title of part the second of the communication for the participation Fund added: "the basic

characteristics of supplementary pension savings ". This part of the communication

contains a brief characterization of the supplementary pension savings,

in particular, information about the claim on the State contribution, on the tax advantages and

on the impacts of early termination of the supplementary pension savings.



(2) the name of the part of the second communication to pension fund added: "the basic

characteristics of the pension plan ". This part of the communication contains

a brief characterization of the pension plan, in particular the information on the



and creation of conditions for participation), retirement savings and that cannot be

registered retirement savings plans to denounce the Treaty or

to withdraw,



(b) the obligation to pay the premiums on) retirement savings Financial institutions

administration of the United States, its amount and the obligation to notify attendance at

retirement savings to the employer or to the insurance Declaration,



(c) participation in retirement) the impact of the savings on pension entitlements from the pension

insurance.



§ 8



Investment objectives and the way of investing the twisted or retirement

Fund



(1) the title of part III of the communication reads: "investment objectives and method

investments ". This section contains information about the communication



the main types of assets), in which the participation or the Pension Fund

investing or intends to invest; investing or intends to invest the

in bonds, it also contains the kind of these bonds according to their issuer

and their rating,



(b)) a particular sector of the national economy, or part thereof, a certain

a geographical area or a specific part of the financial market, in which

the participation or the Pension Fund intends to concentrate or concentrated its

investment, or a specific type of asset, or a particular issuer, to

which the participant or the Pension Fund intends to concentrate or

It concentrates its investments,



(c)), whether the participation or the Pension Fund intends to follow or

tracks a particular index or indicator (benchmark); from this information must

result of the index or pointer is and how, or in

to what extent the participation or pension fund it follows,



(d)), whether the participation or the pension fund a specific index copies; from

This data must indicate what the index it is and to what extent it

the participation or the pension fund copies,



(e)) the use of financial derivatives or other techniques in order to

collateral or to meet the investment objectives or participating

the Pension Fund,



(f)) the approximate time that is suitable to remain in a directory or

Pension Fund, that participant could reach the expected yield, and

Notice that this Fund may not be suitable for the party

intends to change the strategy of saving, request a dose or make a claim

to transfer funds in less than the approximate length of time

You should remain in the pool.



(2) the part of the third communication can also contain additional data and information,

If they are important for the proper understanding of the investment objectives and how

local investment or Pension Fund participant.



(3) the information referred to in part three of the communication must clearly distinguish

between the investment, if it would otherwise information about

investment objectives and how the investment of local or of the pension

the Fund could be misleading or deceptive.



§ 9



The risk profile of the Pension Fund of local or



The name of the fourth section of the communication reads: "risk profile". This part of the communication

contains



and display scale for synthetic) indicator, which is based on the

the volatility of the historical performance of a participating or the Pension Fund and

the compiled procedure referred to in annex 1 to this regulation, a brief

justification the inclusion of participation or the Pension Fund to the appropriate

Group by this indicator and warning that



1. the value of the assets of a participant may fluctuate and that is not

guaranteed return of the participant,



2. the inclusion of a participating fund to the appropriate group may change and



3. the classification of local or the Pension Fund to the least risky

the group does not make an investment with no risk,



(b)), depending on the selected method of description of the risks of investing, if

associated with the chosen way of investing, and the participant with them

experience in connection with the deposit to the local or

the Pension Fund,




1. the credit risk inherent in the fact that an issuer or counterparty

fails to meet its commitment,



2. the risk of lack of liquidity, namely, that certain assets

local or the Pension Fund will be liquidated in a timely manner at a reasonable

and that participation or the Pension Fund for that reason will be unable to

meet the commitments,



3. settlement risk associated with the fact that the settlement of the transaction

fails, as expected, for the reason that the counterparty

will not pay or deliver the investment vehicles within the prescribed period,



4. market risk arising from the effects of changes in the development of the total market for

prices and values of each type of property owned by the local or

Pension Fund,



5. the risk of loss due to deficiencies or failure of internal processes, or

human error or due to external events (operational risk) 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 a directory or a pension fund, and



6. risks related to the investment focus of the local or

the Pension Fund of certain sectors of the economy or his

in part, a particular geographical region, a part of the financial market, the

type of property or of a particular issuer.



§ 10



Remuneration and fees or local pension fund



(1) the title of part five of the communication reads as follows: "the Remuneration and fees". This part of the

the communication contains



and information on the amount of payment) for the management of assets in a directory

or pension fund, which covers the entire cost of

management of assets, with the exception of the fees referred to in subparagraph (c)),



(b) information on the amount of and) the conditions of entitlement to remuneration for the appreciation of the assets

in a directory or a pension fund and



(c) a description of all other charges) and the conditions under which the pension

the company charged participant.



(2) the amount of remuneration for the asset management and remuneration for evaluation

the assets shall be indicated in percentage, along with the basis from which the

calculation is based on.



(3) the Remuneration shall be specified in the company's pension the previous accounting period.



(4) part five communication also contains information about the fact that no more

remuneration and fees cannot be charged to participants.



§ 11



Historical performance



(1) the name of the communication reads: "Historic performance". This part of the

the communication contains



a) warning that the data used relate to the past, and that the performance in the

the past is not a reliable indicator of future revenue,



(b) information on the impact of remuneration) on the performance of local or of the pension

the Fund,



(c) in the form of historical performance) bar chart showing the

annual income after tax for the last at least 10 consecutive

years, displayed in accordance with the criteria listed in annex 2 to this

Regulation,



(d)) the comparison of historical performance referred to in subparagraph (c)) with the development of the index

or a pointer in the event that a State party or the Pension Fund

the index or pointer.



(2) in the event that a State party or the pension fund exists for the

less than 10 years old, but for longer than 1 year, the annual

revenue and the comparison referred to in paragraph 1 (b). (d)) for all years of its

the existence of. If for some period, data are not available,

in the appropriate section of a bar diagram date without a record of performance.

If from the occurrence or create local or the Pension Fund

less than 1 year, give notice of a lack of data

should the participant can provide information about historical performance

local or pension fund.



(3) the information about historical performance must be accompanied by an explanation that the

the calculation of the historical performance of a participating or the Pension Fund

is based on the value of the funded capital participation or

the pension fund after deduction of the remuneration for the management and payment for

the appreciation of the assets of the Pension Fund in a directory or.



(4) the bar diagram must be displayed legibly and shall not capture

a communication on paper must not exceed the dimensions of length and width of one side of the format

A5; the bar diagram and refills warning



and my limited explanatory power), in terms of future performance

the twisted, or pension fund,



(b)) a year, from which the participation or the pension fund exists,



(c)) the currency in which the historical performance of the Fund is calculated.



(5) the communication must not contain data about the performance of a participating or

the Pension Fund for the year in which the notice published or has

publicly available.



(6) If, during the period of the display in a bar diagram occurred

significant change in the investment objectives or the way the investment of local

or the Pension Fund, which affected its performance, shall be indicated in the

a column chart and the period preceding this change. Information related

to this period is completed, the performance was

achieved in other circumstances.



§ 12



Information on the depositary, and other information



The name of the part of the seventh communication added: "additional information". This part of the

the communication contains



and the name of the depositary or local) Pension Fund,



(b) information on the right to) free provision of the Statute of the local or

the Pension Fund, and their annual and half-yearly reports,



c) an indication of the point of contact, where it is possible, if necessary, to obtain the

additional information, including address, phone number, e-mail address and

Internet address of this contact point, and



d) information about the fact that the pension company is responsible for the correctness and

the completeness of the information referred to in this communication are vague, false,

misleading or deceptive, or are not in accordance with the information

referred to in the statute or local pension fund.



section 13 of the



For information about enabling



Part eight of the communication is without name, and, in the case of



and the participation Fund), the text reads as follows: "Permission to create this

Local Fund was issued in the Czech Republic. Pension company,

which manages the participation Fund, is subject to supervision of the Czech

National Bank. "



(b) the Pension Fund), the text reads as follows: "Permission to create this

the Pension Fund was issued in the Czech Republic. Pension company,

that manages the Pension Fund, shall be subject to the supervision of the Czech national

Bank. ".



§ 14



An indication of the publication



Part nine of the communication is without name, and date of publication of the communication,

preceded by the text reads as follows: "the communication of key information

It was drawn up on the day. "



§ 15



Continuous update of the communication



(1) the pension company participation or belong to a pension fund

continuously validates the timeliness of communication, and without undue delay is

updates. In a bar chart depicting historical performance

always take into account the performance of the participant or the Pension Fund in

the previous year.



(2) the timeliness of communication always verifies in the context of an approved

by changing the Statute of the local or the Pension Fund.



section 16 of the



The publication of the updated communication



(1) if it has been updated, shall publish a communication to the pension company

updated communication without undue delay.



(2) if the notice was last updated in connection with the change of the Statute

the twisted, or pension fund, will publish the updated communication

always before the date on which the change of the statute or local pension fund

shall take effect.



(3) the communication containing the taking into account of the performance of local or

the Pension Fund in a calendar year shall be published no later than 35.

working day of the following calendar year.



§ 17



The effectiveness of the



This Regulation shall enter into force on 1 January 2000. January 1, 2013.



Prime Minister:



RNDr. Nečas in r.



Minister of Finance:



Ing. Kalousek in r.



Annex 1



View scale for a synthetic indicator



1. Synthetic indicator is reflected in one of the groups on a scale.

The scale consists of a contiguous sequence of groups marked with whole numbers in

ascending order from 1 to 7 from left to right.



2. On the scale must be noted that the lower risk means potentially

lower returns and higher risk means potentially higher yields.



3. the group, in which is included the participation or the Pension Fund, is

highlighted.



4. To distinguish the individual groups on a scale cannot be used exclusively

colors.



Annex 2



The criteria for displaying historical performance



Bar chart that shows the historical performance of the meets this

criteria:



1. the scale of the Y axis of a bar diagram is linear, not

logarithmic,



2. the scale is adapted to the scale of the displayed columns, with

the column must not be compressed to the extent that the ability to detect fluctuations in

profitability was aggravated by,



3. the X axis is located on level 0% rate of return,



4. for each column is indicated by the return achieved in the percentage

observations and



5. historical performance values are rounded to the first decimal

instead.