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Pension Fund Act

Original Language Title: Eläkesäätiölaki

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Pension medicine law

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In accordance with the decision of the Parliament, which has been adopted in the manner provided for in Article 67 of the Statutes,:

Chapter 1

General provisions

ARTICLE 1 (27 MARCH 2009)

This law shall apply to the pension fund established by the employer, which is an insurance and pension institution and which, without any physical activity, grants to persons in its sphere of activity and to those who benefit from it, pensions and comparable Other benefits which may be considered to be covered by social insurance cover.

The law also applies to the pension fund, which provides for a supplementary pension scheme in the form of pension schemes and pension funds (193/2009) Of the European Union.

Pension medicine which carries out the worker's pension scheme (185/2006) , shall be subject to the provisions of this Act, subject to that law.

In accordance with this law, the AB and the AB pension fund shall be subject to the EEA supplementary pension fund, unless otherwise provided for in Chapter 13a.

Articles 46, 46a and 47j of this Act shall not apply to the 'B' pension fund and the AB pension fund. (20,2015/322)

L to 22/2015 The amended Article shall enter into force on 1 January 2017. The previous wording reads:

Article 46 (2) and (4) to (10) and Articles 46a and 47b of this Act shall not apply to the B pension fund and to the AB pension fund. Article 46 (3) of the Act applies to the 'B' pension fund and to the 'B' section of the AB pension fund only when calculating pension liability.

ARTICLE 2

For the purposes of this law:

(1) A-retirement fund A pension fund designed to grant only voluntary supplementary pensions and other benefits;

(2) B-retirement fund A pension fund designed to grant only statutory pensions and other benefits;

(3) AB retirement fund A pension fund designed to provide both voluntary additional benefits (Title A) and statutory pensions and other benefits (Title B);

(4) On the common pension fund A pension fund under Chapter 13, which may include two or more employers;

4a) EEA supplementary pension fund A pension fund in accordance with Chapter 13a, the purpose of which is to grant only optional supplementary pensions and other benefits; (19,2006/391)

(4b) With a foreign EEA supplementary pension institution A supplementary pension scheme for the supplementary pension activities carried out in accordance with Directive 2003 /41/EC of the European Parliament and of the Council on the activities and supervision of institutions for occupational retirement provision Supplementary pension activities, duly approved and registered in another EEA State; (19,2006/391)

(5) Persons covered by the action Persons who are employed by or belong to the employer in respect of employment, employment or other services and who are insured under the pension fund; (19,2006/391)

(6) Service undertaking An entity that provides the pension fund with services related to its activities; (19,2006/391)

(7) EEA State A State belonging to the European Economic Area; (19,2006/391)

(7a) European Insurance and Occupational Pensions Authority Regulation (EU) No .../... of the European Parliament and of the Council establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority) and amending Decision No 716 /2009/EC and repealing Decision 2009 /79/EC 1094/2010 European Insurance and Occupational Pensions Authority; (12/01/1249)

(8) On regulated markets A stock exchange under the supervision of the EEA State, which is subject to the supervision of the EEA State authority, and another system of interchange in the EEA State which, according to the provisions of the Insurance Supervisory Board, is treated as such a stock exchange; (19,2006/391)

Paragraph 9 has been repealed by L 20.3.2010 , which enters into force on 1 January 2017. The previous wording reads:

(9) Gross amount of pension liability The amount to be covered by the pension fund in accordance with Article 46 (1) prior to the reduction of the items provided for in Article 46 (3);

(10) With the debt commitment Debt-to-debt ratio, the interest accrued on the debt instrument and the bond and other monetary and capital market instruments, except for the share, share, derivative contract or the undertaking with which: Subordinated to other commitments by the debtor; (19,2006/391)

(11) Real estate entity A Community whose main purpose is to own the assets referred to in Article 47e (1) (1) to (3); (19,2006/391)

12 ) Group In the Companies Act (1024/2006) Of the group; (27 MARCH 2009)

(13) The guarantee The originator guarantee from the guarantor of the debt instrument; (27 MARCH 2009)

(14) On biometric risk The risk of death, disability or life expectancy. (27 MARCH 2009)

A number of persons referred to in paragraph 1 (5) may be covered by certain rules.

The action may also include workers posted by the employer to another country within the European Economic Area who work with the employer or the employer of the mother, daughter or In the service of a sister undertaking or in the service of an associate or any other undertaking in which the employer has a dominant position, without being in a working relationship with the employer. (6.6.2003/421)

On the basis of the provision laid down in the pension fund rules, the pension fund may also include:

(1) an employee posted to a State outside the European Economic Area who works with the employer in the service of an emo or subsidiary undertaking belonging to the same economic entity, or in the service of an associate; or In another undertaking in which the employer has a dominant influence, without being in a working relationship with the employer; and

2) pensioner of the pension fund.

ARTICLE 3

A-pension fund shall be covered by at least 30 persons and at least 300 persons under the B-section of the B-pension fund or the AB compartment.

At the end of the second calendar year following the start of the second calendar year, at the end of the second calendar year, a minimum of 30 persons shall be established. In the same period, a minimum of 300 persons shall be covered by the B-life Foundation or part B of the AB pension Foundation.

For specific reasons, the Ministry of Social Affairs and Health may extend the period laid down in paragraph 2 for a period not exceeding one year.

§ 4

The pension fund shall not engage in any activity other than that referred to in Article 1.

The resources of the pension fund shall not be used for the purpose of the activities of the pension fund.

The pension fund shall be adapted in such a way that it is possible without borrowing. However, in the case of B, the pension fund or the AB pension fund may, where appropriate, take out a loan as specified by the Decree of the Ministry of Social Affairs and Health. The A-pension fund or the AB pension fund in respect of Section A may only temporarily take short-term credit for the maintenance of its liquidity. The pension fund shall not be provided in the guarantee. (19,2006/391)

The pension fund shall not be authorised without the permission of the Ministry of Social Affairs and Health to own more than the amount equal to 20 % of the share capital of the company and the amount of voting rights generated by all shares. The amount invested by a pension fund in the shares of one such company or of companies belonging to the same group shall not be authorised by the Ministry of Social Affairs and Health to exceed 10 % of the property of the pension fund. The restrictions provided for in this paragraph do not apply to a company whose activities may be regarded as relevant and appropriate for the activities of the pension fund, and not the housing or property company.

The limits laid down in paragraph 4 shall also be taken into account in the application of the pension fund in respect of shares and orders held by other limited liability companies in which the pension fund has more than half of the share capital or share capital The number of votes.

Paragraphs 4 and 5 provide for the share capital of the limited liability company and the number of shares generated by the shares to be subject to the same determination in another undertaking.

The pension fund shall not be a shareholder in a company in which it is held liable for unlimited liability.

§ 4a (13.6.2003/489)

In exceptional circumstances, the pension fund should ensure that its functions are as disruptive as possible by taking part in contingency planning in the insurance sector and preparing in advance in exceptional circumstances and by other measures. The Insurance Supervisory Authority may grant derogations from the obligation laid down in this Article if it is justified by the size of the pension fund, the nature or extent of the activity or any other specific reason.

Where the tasks arising out of paragraph 1 require measures which are clearly different from the activities of the standard pension fund and entail substantial additional costs, such costs may be offset by the maintenance of The law on security (1390/1992) From the Guarantee Fund.

The Insurance Supervisory Authority may issue instructions on the application of paragraph 1.

§ 5

The pension fund shall be relocated in a secure and productive manner and with a view to the liquidity of the pension fund.

The pension fund shall be entitled to give its funds to the employer, who must pay at least the same amount of interest to the pension fund for the amount owed to the pension fund, which is used for the purposes of Article 43. Calculation.

If the employer is a limited liability company, the B-pension fund or the B section of the AB pension fund may own shares of up to 10 % of the company's share capital in return for remuneration. However, in the case of Part B of the pension fund or the AB pension fund, the share of the shares acquired in the same way may not exceed 10 % of the assets of the B pension fund or of the AB pension fund. By way of derogation from Articles 4 (4) and 143, A-pension fund or an AB pension fund may be invested in the employer's company by a maximum of 5 % of the funds of the A pension fund or the AB pension fund. Where an employer is an enterprise belonging to a group, the A-pension fund or the AB pension fund in the case of Section A may invest not more than 10 % of the assets of the A-pension fund or the AB pension fund in the same group. The above does not apply to a loan from an employer to an 'A' pension fund or an AB pension fund, which is subject to an insurance scheme independent of the employer. (19,2006/391)

For specific reasons, the Insurance Supervisory Authority may grant derogations from the provisions of paragraph 3 in respect of the B-pension fund and the AB pension fund. (19,2006/391)

ARTICLE 6

The assets and potential liabilities and income and expenses of the AB pension funds shall be kept separate.

The assets of Section B of the AB pension fund and the assets covered by the pension liabilities of the A compartment which, under the provisions of the law, are not to be used for other purposes, shall be used exclusively for pensions and other benefits under that Title , if the pension fund does not decide otherwise pursuant to paragraph 3. (20,2015/322)

L to 22/2015 (2) shall enter into force on 1 January 2017. The previous wording reads:

The assets covered by pension liabilities of an AB pension fund, which are not to be used in accordance with the provisions of the law, shall be used exclusively for the protection of pensions and other benefits under that Title, provided that: The pension fund does not decide otherwise pursuant to paragraph 3.

Where, in accordance with Article 46 or Article 47 inclusive of the provisions and provisions adopted pursuant to Article 46 and the provisions adopted pursuant to it, the amount of the exposure and the total amount of the total amount of the total amount of the exposure in respect of the And the amount of other liabilities, the amounts corresponding to the difference ( Overate ) To transfer the pension liability of Title B to cover. If the assets of the B compartment are estimated to exceed the pension liabilities and other liabilities and the total amount of other liabilities in excess of the liabilities and other liabilities of the B compartment, the amounts corresponding to the excess amount may be transferred from the The pension liability cover. The transfer of funds from the B block requires the consent of the financial supervision. As a result of the transfer to the department from which funds are transferred, there must be no liability. The transfer of funds from Section B requires that the solvency capital is at least twice the amount of the solvency margin after the transfer. (20,2015/322)

L to 22/2015 (3) will enter into force on 1 January 2017. The previous wording reads:

Where, in accordance with Articles 46 or 47 of the Financial Statements, the amount and the total amount of the total amount of the exposure and the total amount of the total amount of the funds, in accordance with Articles 46 or 47, are assessed in the context of the annual accounts, The amount of the pension and the amount of other liabilities, the sums corresponding to the difference ( Overate ) Shall be allowed to transfer the pension liability of the second compartment into a cover. The transfer of funds from the B block requires the consent of the financial supervision. As a result of the transfer to the department from which funds are transferred, there must be no liability. The transfer of funds from Section B requires that the solvency capital is at least twice the amount of the solvency margin after the transfer. (20/04/2013)

The pension fund, which intends to transfer funds from the A department to B, shall be notified in advance to the Insurance Supervisory Board. The notification shall provide the necessary information on the intended shipment and the additional explanations requested by the Insurance Supervisory Authority in order to assess the persistence of the case. The Insurance Supervisory Agency shall have the right to impose conditions which it considers necessary to safeguard the interests of the insured. (5.4.2002/251)

The Insurance Supervisory Authority may, within one month from the date of issue of the notification referred to in paragraph 4 and the necessary reports to the Insurance Supervisory Authority, prohibit the intended transfer of funds to another department or, if the transfer has already been carried out, The pension fund to take measures to withdraw the transfer if the transfer is considered to be contrary to the conditions laid down in this Act or otherwise deemed to endanger the interests of the insured person. (5.4.2002/251)

The separation between the assets and liabilities of the departments of the pension fund, as well as income and expenses, is laid down in more detail by a decree of the Ministry of Social Affairs and Health. If necessary, the Insurance Supervisory Authority may issue instructions on the application of that Regulation to the pension fund. (5.4.2002/251)

The Insurance Supervisory Authority shall also provide, where appropriate, more detailed provisions for the application and notification referred to in this Article, as well as the explanations provided in the application and notification. (5.4.2002/251)

§ 6a (19,2006/391)

The A pension fund and the AB pension fund are entitled to use as custodians of their assets as custodians established in the European Economic Area, which have been recognised as undertakings for collective investment in transferable securities Directive 85 /611/EEC on the coordination of laws, regulations and administrative provisions relating to ucits, Council Directive 93 /22/EEC on investment services in the securities field, credit institutions The European Economic and Social Committee Pursuant to Directive 2000 /12/EC of the European Parliament and of the Council or Directive 2002/83/EC of the European Parliament and of the Council concerning life assurance. The 'A' pension fund and the AB pension fund are also entitled to use as custodians of their assets as custodians established in the European Economic Area, which have been approved for collective investment in transferable securities Of the Council Directive on the coordination of laws, regulations and administrative provisions relating to undertakings (ucits), the Council Directive on investment services in the securities field or the business of credit institutions Of the European Parliament and In accordance with the Directive of Parliament and the Council.

Chapter 2

Establishment of a pension fund

§ 7

The pension fund may be set up by an employer. The employer may be a natural or legal person. For a supplementary pension scheme, the pension fund may also be set up jointly with the employer. (27 MARCH 2009)

The employer shall be either a national of a State belonging to the European Economic Area who has his habitual residence in the European Economic Area or a legal person domiciled in the European Economic Area, unless the Insurance Supervisory Authority authorises derogation from that. The legal person is domiciled in the European Economic Area where it is established in accordance with the law of the State of the European Economic Area and where it has its registered office, central administration or principal place of business in the eea State. (19,2006/391)

The employer shall carry out activities in Finland for the purpose of establishing a pension fund for the provision of pension cover for persons working in the district, unless it is an EEA supplementary pension fund. (19,2006/391)

An employer who has a quorum, a bankruptcy or a business ban, cannot set up a pension fund.

§ 8 (27 MARCH 2009)

The Charter must be set up, which must be dated and signed by the founders.

The Charter must include a plan for the action envisaged ( Action plan ) And the proposal for a pension provision, in addition to which it shall state:

(1) the names, nationality, residence and postal address of the founders;

(2) Basic capital for the establishment of the pension fund.

§ 9

The rules of the pension fund shall state:

(1) the name of the pension fund;

(2) the municipality of Finland as the place of residence of the pension fund;

(3) the purpose of the pension fund;

(4) an employer of the pension fund;

(5) the business district of the pension fund and the beneficiaries referred to in Article 1;

(6) the benefits, their amount or the basis of assessment;

(7) the conditions for obtaining benefits;

(8) period of payment of benefits;

(9) whether and to what extent a person whose insurance relationship has ended before a pension or any other qualifying event, whether or not, or the entitlement to a pension or other benefit of his or her beneficiary;

(9a) the fact that the persons covered by the pension fund and their beneficiaries are entitled to an additional pension or other benefits under contract law; (55/2001) in Chapter 1, Article 10 In the case of the transfer of the movement; (19,2006/391)

(10) the basic capital of the pension fund;

(11) the number, term of office and election of the members and alternates of the Board of Directors and of the statutory auditors and of the auditors;

(12) if the pension fund has a board of directors, its tasks, the number of members, the term of office and the choice of choice;

(13) whether and on which basis the members of the government or other administrative bodies are remunerated for their activities;

(14) who has the right to write the name of the pension fund;

(15) the manner in which the annual activity report, the financial statements and the audit report are to be regarded as visible to the persons covered by the activity, the pension and other benefits, as well as the way in which the communications are otherwise required;

(15a) What information is provided by the pension fund for non-statutory activities, for persons covered by its operating circle and for persons who have been given a free book, as well as for pensioners on request or on their own initiative, as required by Article 49 a (49) (a) to (49) As well as information on how and when the information will be provided; (19,2006/391)

(15b) information on the legal remedies available to persons, pensioners and beneficiaries of non-statutory activities, pensioners and their beneficiaries; (19,2006/391)

(16) how a decision to change the rules must be taken; (30.12.1997/1)

(17) how to distribute the property of the pension fund in the event of the removal of the pension fund; and (30.12.1997/1)

(18) the penalties and measures resulting from the delay in the payment of the support, and the time limits for the payment of support payments where, in the B-pension fund or in Section B of the AB pension fund, contributions to the pension fund are more frequent than those provided for in Article 45. (30.12.1997/1)

ARTICLE 10

The provisions of the Pension Foundation and their amendments shall be submitted to the Ministry of Social Affairs and Health.

The Ministry shall lay down rules or amendments thereof where the rules are in accordance with the law.

ARTICLE 11

The pension fund rules shall be decided by the Board of Directors or the Management Board if the pension fund has a management board. The decision to amend the rules shall be taken in accordance with Article 23 (2). If the change in the rules directly concerns the rights and obligations of the employer, then, in addition to what is otherwise provided, the adoption of the amendment requires the employer to accept the amendment.

If the change in the rules of the pension fund refers to the reduction or elimination of the pensions of the persons covered by the pension scheme, in so far as pensions are to be considered to be based before the date of change, the adoption of a change in the rules A condition that the change has been supported by at least four fifths of the members present at the board of directors of the pension fund or the Board of Directors.

If the change in the rules of the pension fund means the reduction or elimination of the pensions of persons covered by the disability pension or the pensions of those who are retired or of their or their survivors' pensions, That the decision to amend the rules has been adopted by a qualified majority in accordance with paragraph 2 and that, in addition, the amendment is necessary for the continuation of the pension fund or that those whose pensions are to be reduced or Of the European Parliament and of the Council.

Paragraphs 2 and 3 shall not apply to a change in the rules limiting the future growth of pensions.

In the case of pensions and other benefits in respect of pensions and other benefits under paragraphs 1 to 3, account must be reasonably taken of the order of precedence laid down in the rules of the pension fund for the distribution of the funds of the pension fund by the beneficiaries. In the case of dismantling of the pension fund, and the fact that the status of the beneficiary groups in relation to each other is maintained to a reasonable degree after the pensions and other benefits. Pension and other benefits shall not be reduced or removed to the extent that the pension liability of the pension fund is covered.

Notwithstanding the provisions of paragraphs 2, 3 and 5, where pensions and other benefits under the statutory pension cover are reduced or restricted, pensions and other benefits under the supplementary pension scheme of the pension fund may not be precluded by: Reduce or limit the rules of the pension fund. The provisions of the previous sentence also apply to the amendment of the rules of the pension fund, so that the pension and other benefits provided for by voluntary supplementary pension schemes and other benefits are not covered by statutory pension schemes and other benefits. Reductions and limitations. The decision to amend the rules referred to in this paragraph shall be adopted in accordance with paragraph 1, unless otherwise provided in the rules of the pension fund.

Paragraphs 2 to 5 shall not apply to amendments to the B-section of the AB pension fund and the AB pension fund.

ARTICLE 12

The pension fund shall be either Finnish or Swedish. In the name of the word 'pension fund' and in the Swedish name, the word 'pensionsstiftelse' shall be included in the name.

The name of the pension fund shall be clearly distinguishably different from those of the other pension funds. The name shall not be contrary to good practice and may not mislead.

If the pension fund intends to use its name in two or more languages, each denomination shall appear in the rules of the pension fund. The content of the different names must correspond to each other.

ARTICLE 13

The establishment of a pension fund shall be entered in the register of pension funds within three months of the adoption of the rules by the Ministry of Social Affairs and Health. If the pension fund has not been declared to be registered in that period or if registration is refused, the establishment has lapsed.

The register shall be accompanied by an assurance from all members of the board of the pension fund that the basic capital is in the possession of the pension fund. The notification shall also be accompanied by proof of compliance with the basic capital provisions of the statutory auditor.

When the pension fund is entered in the register of pension funds, the Ministry of Social Affairs and Health shall, without delay, inform the Government of the patent and registry office of the name of the employer in respect of which the pension fund operates, The name of the pension fund and the time when the pension fund is entered in the register of pension funds.

The financial supervision shall without delay inform the European Insurance and Occupational Pensions Authority of the additional pension fund activity. The notification shall also include the EEA States in which the pension fund carries out additional pension activities. (12/01/1249)

ARTICLE 14

When establishing a pension fund, basic capital and its return return to the employer.

§ 15

If the basic capital is part of a property other than money ( Apporttie ), must be included in the memorandum of incorporation. Apportic assets shall be suitable for the purposes of insurance activities carried out by the pension fund.

ARTICLE 16

Prior to registration, the pension fund cannot acquire rights or enter into commitments or claim, carry or respond to the courts or other authorities. However, the Board of Directors may use the power of speech in matters relating to the establishment of a pension fund.

In the case of a pension fund, the persons responsible for the obligation to carry out an action before it were registered or decided jointly and severally liable. However, the obligation arising from the Charter will be transferred to the pension fund after it is registered.

Where, prior to the registration of a pension fund, an agreement has been concluded with a person who knew that the pension fund was unregistered, he may, unless otherwise agreed, waive the contract if no notification has been made for the registration of the registrant 13 Or if the registration is refused. If the contractual partner did not know that the pension fund was not registered, he or she may waive the contract until the pension fund is registered.

Chapter 3

Management of the pension fund

§ 17

The pension fund shall have a government comprising at least five members and at least five alternates.

The persons covered by the pension fund shall elect at least two members from among their number and at least two alternates. However, the rules of the pension fund may stipulate that the election of members representing the members of the Board of Directors shall be assigned to the representatives of the persons concerned. Where the rules contain the above provision, the rules shall also specify who shall represent the persons covered and how they shall make the election of members of the Board of Directors. The remaining members of the Board and their alternates shall be selected by the employer. The Board of Directors may select all members of the Board of Directors on a proposal from the employer and the persons concerned, provided that the rules of the pension fund so provide.

Irrespective of the provisions laid down in paragraph 2, the pension fund shall be chosen by the employer on a provisional basis by all members of the Board and their alternates. Those two members and their alternates shall be persons who may be covered by the pension fund. In selecting the members of the Board of Directors representing persons covered by the action, the employer shall be consulted by the employer. Where the employers' Community is subject to the law of undertakings (1) (2) Or Joint Action on the Law of State Agencies and Institutions (651/88) , the employer shall, in selecting the members of the Board of Directors, consult the staff representatives referred to in the said law. Following the registration of a pension fund, the selection of members of the Board of Directors and their alternates shall be carried out as soon as possible, taking into account the provisions of Article 3 (2).

Where, according to the rules of the pension fund, there are more than five members, the rules shall take account of the fact that the ratio between the number of members of the Board of Directors and the number of members of the Board of Directors is equal to 1 and 2. Referred to in the article. The rules of the pension fund may stipulate that the agent is a member of the government.

The term of office of the Board of Directors shall expire at the latest for the fourth financial year following the election of the new members of the Board of Directors or at the end of the financial year.

The law provides for a member of the Board of Directors to apply mutatis mutandis to an alternate member of the Board of Directors.

L joint action on government agencies and institutions 651/88 Has been repealed by L for joint action by government agencies and bodies 123/2013 .

ARTICLE 18

The pension fund shall have an agent. The rules of the pension fund may provide for other names to be referred to the Ombudsman. The board shall be appointed by the Board of Directors or, if provided for in the rules of the pension fund, the Management Board.

§ 19 (19,2006/391)

At least one of the members and alternates of the Board of Directors and the agent shall have his habitual residence in the European Economic Area, unless the Insurance Supervisory Authority grants a derogation to the pension fund.

The leadership must be of good repute. They shall have a general knowledge of pension activities as well as the quality and extent of the activity of the pension fund, or they must have suitably qualified and experienced advisers.

Management shall take care of the pension fund in a professional manner, taking into account the interests of the persons covered by the scheme and of the beneficiaries and of the pensioners.

Powerful, bankrupt or non-business ban may not be a member of the Board of Directors or as an agent.

§ 20

A member of the Board may resign before the end of his term of office. The government shall be informed of the resignation. A member of the Board of Directors may dismiss the person who has chosen him.

Where a member of the Board of Directors becomes vacant during the term of office, or if a member of the Board loses its eligibility under Article 19 and is not an alternate member, the other members of the Board shall ensure that the new member is elected For the remainder of the current term. However, if there is a quorum and there is a quorum, both the employer and the persons covered by the Board of Directors, there is no need to choose a new member.

If the pension fund has no government, the Ministry of Social Affairs and Health shall invite the other members of the Board of Directors to remedy the matter or, if the Management Board chooses the Government, to invite them to choose: Government. If the pension fund does not have an agent registered in the register, the Ministry shall be invited by the Government or, if the Management Board chooses the agent, to choose an agent. Where the government or the agent is not immediately informed, or without delay, in the register of pension funds, the Ministry shall assign one or more of the activities to the pension fund until the Government or the agent has been elected and marked: The register of pension funds.

In the case referred to in paragraph 3 of the application, if the Ministry has not already taken the necessary measures, a member of the Government, an agent, a representative of the pension fund, a creditor or any other person entitled to Depend on the existence of an eligible government and an agent.

ARTICLE 21

The administration shall have a President. The Chairperson shall be elected by the Management Committee, unless otherwise decided by the pension fund rules or otherwise decided upon in the selection of the government. In the event of a tie, the election of the President shall be settled on a daily basis. A client may be elected President of the Board.

The Presidency shall ensure that the Board meets as appropriate. The Chairperson shall convene a meeting of the Board if required by a member of the Board or an agent. A client, even if he is not a member of the Board of Directors, has the right to be present at board meetings and to exercise the power of speech, unless the government decides otherwise.

§ 22

A protocol to the meeting of the Board of Directors shall be drawn up, signed by the President of the Assembly and the author of the minutes, unless otherwise provided in the rules of the pension fund. A member of the Board of Directors and the Ombudsman shall have the right to have their dissent in the minutes.

ARTICLE 23

The Board of Directors shall have a quorum of more than half of its members if the rules of the pension fund do not require a higher number. However, the decision shall not be taken unless, as far as possible, all members of the Government have an opportunity to take part in the proceedings. If a member of the Board of Directors is prevented from attending, such an opportunity shall be reserved for his/her replacement.

The decision of the Government shall be the opinion which is supported by more than half of those present, unless a qualified majority is required pursuant to the rules of the pension fund or Article 11 of this Act. In the event of a tie, the opinion shall be the opinion to which the President has taken an agreement.

§ 24

A member of the Board or an agent shall not take part in a case concerning the relationship between him and the pension fund or otherwise his private interest.

ARTICLE 25

The Board of Directors shall ensure the management and proper organisation of the pension fund. The client shall manage the day-to-day management of the pension fund in accordance with the instructions and instructions of the Board of Directors. Actions which, in the light of the scale and the quality of the activities of the pension fund, are unorthodox or of general scope, shall only be carried out by an agent if the Board of Directors has authorised him or the decision of the Board of Directors cannot be expected without a pension fund. Activities essential to the operation. In the latter case, the government shall be informed as soon as possible of the measure.

The client shall ensure that the records of the pension fund are in accordance with the law and in a reliable manner. The government must ensure that the control of accounting and financial management is properly organised.

The Government shall ensure that the pension fund has adequate internal control over the quality and scope of the pension fund and adequate risk management systems. The Insurance Supervisory Authority will provide more detailed provisions on the organisation of internal control and risk management and on reliable management requirements. (19,2006/391)

§ 26

The government represents the pension fund and writes its name. The rules of the pension fund may stipulate that a member of the government or an agent shall have the right to register a pension fund, or that the Board of Directors may grant such a right to a member, agent or other person. A person who is not a member of a government or an agent shall have his habitual residence in the European Economic Area unless the Ministry of Social Affairs and Health agrees to derogate from this and is in force in Article 24. Provides for a member of the Board of Directors or the Ombudsman. At least one person referred to in this paragraph shall have his habitual residence in Finland.

The right of signature may be restricted only in such a way that two or more persons are entitled to write the name of the pension fund.

The Board of Directors may at any time withdraw the right to sign.

§ 27

The client has the right to represent the pension fund in a case which, according to Article 25, is part of his or her duties.

ARTICLE 28

The Government or any other representative of the pension fund referred to in Article 26 may not take any action or other measure which is liable to confer an unfair advantage on the person or other of the persons covered by the pension fund; or At the expense of another person.

A representative of the pension fund shall not comply with the decision of the institution of the pension fund, which is invalid as a result of this law or of the rules of the pension fund.

§ 29

In view of the extent of the activity of the pension fund, the Ministry of Social Affairs and Health may lay down rules for the pension fund, according to which the pension fund has a management board.

The Governing Board shall have at least five members and at least five alternates. A client or a member of the Board shall not be a member of the Management Board.

The persons covered by the pension fund shall elect at least two members and at least two alternates to the Management Board. The selection of the above members of the Board of Supervisors shall apply mutatis mutandis to the election of the members of the Board of Directors as provided for in Article 17 (2). The remaining members of the Management Board shall be selected by the employer. The relationship between the number of members representing the employer and the members of the Board of Directors is in force on the relationship between the number of representatives of the employer and the representatives of the Board of Directors in Article 17 (4). Provides.

The provisions of Article 17 (5) and (6) and Articles 19 and 20 respectively shall apply to members and alternates of the Board of Directors. In addition, the Management Board and its members shall apply mutatis mutandis to the provisions of Articles 21 to 24 of the Government and its members.

ARTICLE 30

In addition to what is laid down in the rest of this law, the Management Board shall supervise the management of the pension fund managed by the Management Committee, confirm the Foundation's annual accounts and select auditors from the employer and the persons concerned.

The Board of Directors shall provide the Management Board and the Member with the information they deem necessary for the performance of their duties. The members of the Management Board shall request the information at the meeting of the Governing Board.

The Board of Directors may issue instructions to the Board of Directors on matters of general scope or of fundamental importance.

Chapter 4

Financial audit

ARTICLE 31 (18.9.2015/1157)

An audit law shall apply to the audit of the pension fund (17/01/2015) , subject to this law.

For the purposes of Article 7 (1) (8), Chapter 5 and Article 9 (1) (1) of Chapter 7 of the Court of Auditors, Article 7 (1) (1) of the Court of Auditors shall also apply to the audit of the 'B' pension fund and the AB pension fund. The Community's audit and auditor.

The pension fund shall comprise at least two auditors referred to in the Audit Act. The persons covered by the scheme shall select at least one auditor and a deputy auditor, and the employer shall appoint other auditors and reserve inspectors. If the pension fund has a management board, it shall appoint auditors and reserve inspectors on a proposal from the persons concerned and the employer.

Notwithstanding the provisions of paragraph 3, the pension fund shall be chosen by the employer on a temporary basis by all auditors and audit inspectors. In selecting the statutory auditors, the employer shall consult the operating district. Where an employer is subject to a law or joint action by undertakings in the undertakings and institutions of the State, the employer shall, when selecting the statutory auditors, be heard in the said laws. Of the Staff Committee. Following the registration of the pension fund, the selection of the auditors and their financial controller shall be carried out as soon as possible, taking into account the provisions of Article 3 (2).

Notwithstanding the provisions of paragraphs 3 and 4, the reserve auditor may be excluded if an audit firm has been appointed as the auditor.

As for the statutory auditor, the statutory auditor shall apply accordingly.

L to 11/07/2015 Article 31 shall enter into force on 1 January 2016. The previous wording reads:

ARTICLE 31 (13.04.2007)

An audit law shall apply to the audit of the pension fund (209/2007) , subject to this law.

Furthermore, the audit of the 'B' pension fund and the AB pension fund is subject to the provisions of Article 25 (1) (8), Chapter 5 and Article 40 (2) (1) of the Court of Auditors, as provided for in Article 25 (2) (1) of the Law on the audit of the audited entity, and The auditor.

The pension fund shall consist of at least two auditors. The persons covered by the scheme shall select at least one auditor and a deputy auditor and the employer shall appoint other auditors and their alternate auditors. If the pension fund has a management board, it shall appoint auditors and reserve inspectors on a proposal from the persons concerned and the employer.

Notwithstanding the provisions of paragraph 3, the pension fund shall be chosen temporarily by the employer when setting up all the auditors and the inspectors. In selecting the statutory auditors, the employer shall consult the operating district. Where an employer is subject to a law or joint action by undertakings in the undertakings and institutions of the State, the employer shall, when selecting the statutory auditors, be heard in the said laws. Of the Staff Committee. Following the registration of the pension fund, the selection of the auditors and their financial controller shall be carried out as soon as possible, taking into account the provisions of Article 3 (2).

Notwithstanding the provisions of paragraphs 3 and 4, the reserving inspector may be excluded if the statutory auditor, referred to in Article 33 of the Audit Act, or the HTM Community referred to in Article 34.

As for the statutory auditor, the statutory auditor shall apply accordingly.

ARTICLE 32 (18.9.2015/1157)

The term of office of the statutory auditor shall be laid down in the rules of the pension fund. At the end of the meeting of the Board of Directors or the Board of Directors at the end of the meeting of the Board of Directors, in which the audit report referred to in Article 5 (5) of the Law on the Court of Auditors during the last financial year, as referred to in Chapter 3, of the Court of Auditors, shall be examined or, If he has been chosen for the time being, when the new auditor has been selected for his replacement.

L to 11/07/2015 Article 32 shall enter into force on 1 January 2016. The previous wording reads:

ARTICLE 32 (13.04.2007)

The term of office of the statutory auditor shall be laid down in the rules of the pension fund. At the end of the meeting of the Board of Directors or the Board of Directors, where the audit report referred to in Article 15 of the Statute of the Court of Auditors in respect of the last financial year, as referred to in Article 15 of the Court of Auditors, is treated or, if: He has been chosen for the time being, when the new auditor has been selected for his replacement.

§ 33 (18.9.2015/1157)

§ 33 has been repealed by L 18.9.2015/1157 , which enters into force on 1 January 2016. The previous wording reads:

§ 33 (13.04.2007)

The statutory auditor shall be a kHT auditor or a kHT auditor within the meaning of Article 2 (2) of the Code of Auditors or a HTM auditor or an HTM entity within the meaning of Article 2 (3) of that Act.

§ 34

In addition to the provisions of Articles 23 and 24 of the Court of Auditors, the auditor shall not:

(1) the person who is a member of the public limited company law of the employer or employer of the pension fund; (734/78) in Chapter 1, Article 2 Employed by the entity within the meaning of the group or, otherwise, in relation to this employer, a member of the Board of Directors or a member of the Management Board or with the management of the accounting or financial resources of that employer, Or treatment control;

(2) the spouse of the person referred to in paragraph 1 or, in the case of a common household, a person, brother or sister, or the person directly in the ascending or condescending relationship with him; In such a way that one of them is married to another brother or sister; and

3) the person assigned to the business ban.

ARTICLE 35 (18.9.2015/1157)

Financial supervision shall specify the eligibility criteria for the pension fund in the cases referred to in Article 8 (1) of Chapter 2 of the Code of Auditors, or where, according to Article 34 of this Act, the auditor is aescapable.

In the cases referred to in paragraph 1, any person may be allowed to do so. The Board of Directors shall be obliged to make a declaration, unless the person to whom the auditor is elected shall, without delay, select the statutory auditor.

The financial supervision shall be requested from the Board of Auditors of the Patents and Registration Board for an opinion on the independence referred to in Article 8 (1) (2) of Chapter 2 of the Audit Act prior to its resolution.

Before the provision mentioned in this Article is adopted, the Government of the Pensions Foundation shall be consulted. The order shall remain in force until the pension fund has been selected as the auditor to replace the financial supervision.

L to 11/07/2015 Article 35 shall enter into force on 1 January 2016. The previous wording reads:

ARTICLE 35 (13.04.2007)

In the cases referred to in Article 9 (1) of the Code of Auditors, or where the auditor is aespected by Article 34 of this Act, the insurance supervisory authority shall assign the eligibility criteria to the pension fund.

In the cases referred to in paragraph 1, any person may be allowed to do so. The Board of Directors shall be obliged to make a declaration, unless the person to whom the auditor is elected shall, without delay, select the statutory auditor.

In the case of the independence referred to in Article 9 (1) (2) of the Audit Act, the Insurance Supervisory Board shall request an opinion from the Audit Board of the Central Chamber of Commerce prior to its resolution.

Before the provision mentioned in this Article is adopted, the Government of the Pensions Foundation shall be consulted. The order shall remain in force until the pension fund has been appointed to a holding designated by the Insurance Supervisory Authority.

§ 36

The Ministry of Social Affairs and Health can give details of the audit report.

The pension fund shall, without a separate request, submit to the Ministry of Social Affairs and the Ministry of Health, in the course of the financial year, the reports and inspection reports issued by the Foundation to the Board of Directors, immediately after the auditors are: The foundation gave up.

§ 36a (19/12/2015)

Article 36a has been repealed by L 19.12.2008 .

Chapter 5

Annual accounts and annual report (30.12.2004)

ARTICLE 37 (30.12.2004)

The accounting and financial statements of the pension fund and the activity report shall be drawn up in accordance with (136/1997) , subject to the provisions of this Chapter and the accounting regulation (13/09/1997) , subject to the provisions of this Chapter, or subject to provisions specific to the specific nature of the insurance activities of the Ministry of Social Affairs and Health or the Insurance Supervisory Authority.

Articles 4 (1), 2 (2), 9 to 12 and 13 (1) and (3) of Chapter 4, Articles 1 to 4, 5 (3) and (5), 5 (2), 2 (a) and 4 (5), 5 (1), 5 (1), 5 (a) (2), 6 (2), 6 and 13 of the Accounting Act, Articles 16 and 17, Articles 19 and 20, Chapters 6, 7 and 7a and Article 6 of Chapter 8 shall not apply to the preparation of the accounts of the pension fund or the activity report.

For the purposes of the Accounting Act, permanent equivalent means the balance sheet of the pension fund and the tangible and tangible assets. The material and intangible assets shall apply, save as otherwise provided below, the provisions on the permanent equivalent of the accounting law, with the exception of the provisions mentioned in paragraph 2 above, and Articles 13 and 16 of Chapter 5.

Article 37a (23.12.1998/1)

The financial year of the pension fund is 12 months. At the start or end of the activity of the pension fund, or when the financial year is amended, the financial year may be shorter or longer, but not more than 18 months. However, the financial year of the pension fund operating in accordance with the Pensions Act shall be the calendar year.

The pension fund is not obliged to draw up consolidated financial statements. The pension fund shall not be included in the consolidated financial statements of the Community.

ARTICLE 38 (30.12.2004)

A financial statement shall be prepared for the financial year, including:

(1) balance sheet of the balance sheet date;

(2) the profit and loss account of the result; and

3) Information to be provided in the balance sheet and the profit and loss account ( Notes ).

Each item of the balance sheet and profit and loss account shall be provided with equivalent information for the last financial year ( Comparative information ). Where the breakdown of the balance sheet or profit and loss account has been changed, the reference data shall be adjusted as far as possible. The same must be done if the reference information is not useful for any other reason.

The financial statements shall be accompanied by an activity report providing information on important aspects of the development of the pension fund.

The documents forming part of and annexed to the financial statements shall be clear and form a coherent whole.

ARTICLE 39 (30.12.2004)

The annual accounts and the annual report shall be submitted to the auditors within four months of the end of the financial year, unless the Insurance Supervisory Authority, on the request of the pension fund, is exempted from this derogation. The auditors shall submit an audit report within one month to the government.

ARTICLE 40 (23.12.1998/1)

Operating assets are objects, separately transferable rights and other commodities intended to produce income on a continuous basis for several financial years and which are not assets within the meaning of paragraph 2.

Investment assets consist of securities, real estate and other assets acquired in order to invest or secure investments.

Paragraph 3 has been repealed by L 30.12.2004 1323 .

Shared assets belong to different types of assets divided by the use of a dividend ratio.

Article 40a (23.12.1998/1)

If a commodity which is intended to generate income for a continuous period of time in several financial years, the interest payable on the amount of the loan to be made available for the production of a loan, and in accordance with Article 5 (2) of Chapter 4 of Chapter 4 of the Accounting Act, is essential In relation to the procurement expenditure referred to in Article 5 (1) of Chapter 4 of the Accounting Act, in addition to the contribution provided for in Article 5 (1), these interest payments shall be included in the contract.

Unless otherwise shown by the pension fund, the acquisition of securities of the same type shall be determined on the assumption that the securities have been surrendered in the order in which they were acquired, or that the order of surrender has been the opposite of the order of supply. The acquisition cost of the same types of securities may also mean the average of actual procurement expenditure, weighted by the corresponding acquisition volumes.

ARTICLE 41 (30.12.2004)

The following shall be entered:

(1) money and other assets other than those in the balance sheet at nominal value, but not more than likely to be value;

(2) the pension liability in accordance with Article 43 and the value calculated in accordance with the provisions of the Ministry of Social Affairs and Health and the Insurance Supervisory Authority; and

(3) other liabilities at nominal value or, if the debt is indexed to the index or other reference basis, at a higher value than the nominal value of the changed reference criterion.

Where a statement of expenditure drawn up on the basis of paragraph 1 (1) proves to be unfounded at the latest on the date of the end of the financial year, it shall be recorded as an adjustment of the expense report.

Article 41a (23.12.1998/1)

At the end of the financial year, the acquisition cost of the investments included in the main balance sheet item "investment" shall be activated. The cost of the acquisition of buildings and other long-acting expenditure and equipment shall be recorded as depreciation. If, at the end of the financial year, the fair value of the investment property is at the end of the financial year or on the basis of this paragraph, the write-down minus the lower than the cost, the difference shall be recorded as a write-off. Unless, for a specific reason, the Ministry of Social Affairs and Health, in the case of investments deemed to be used and in order to qualify for the purposes of obtaining a rating, registration may be waived if the depreciation of the value is to be considered temporary. If the current entry proves to be no later than the end of the financial year, it shall be recorded as an adjustment of the expense report. (30.12.2004)

Debt securities and other monetary and capital market instruments may be included in the balance sheet in a different way as laid down in the Regulation of the Ministry of Social Affairs and Health. (30.12.2004)

If the fair value of the land or water area, the building, the security or any other commodity comparable to them is substantially higher on the balance sheet date, the balance sheet shall be included in the balance sheet, in addition to the An increase in the value of the difference between the fair value and the loss of the contract. The amount corresponding to the increase shall be entered in the profit and loss account. If the value increase proves to be unjustified, the revaluation shall be adjusted in profit or loss.

By way of derogation from paragraphs 1 to 3 and Article 41, financial instruments may be valued at fair value. The change in the value of the fair value shall be recorded either as output or expense in the profit or loss account or the fair value fund of the balance sheet. Details of the main principles for determining the fair value and the fair value of the fair value, the change in fair value to the profit and loss account, the balance sheet and the notes on financial instruments; and The information to be provided in the activity report shall be provided by a decree of the Ministry of Social Affairs and Health. Investments in which the pension fund is traded may be classified as financial instruments held for trading purposes. The Insurance Supervisory Authority will provide more detailed provisions on the classification and hedge accounting of financial instruments held for trading purposes. (30.12.2004)

By way of derogation from paragraphs 1 and 3, investment buildings and other investments mentioned in the Decree of the Ministry of Social Affairs and Health may be valued at fair value. The change in the fair value is recorded as output or expense in the profit and loss account. Details of the conditions for fair value valuation, the determination of fair value, the indication of changes in fair value to the profit and loss account and the information to be provided on these items and the information to be provided in the activity report By decree of the Ministry of Social Affairs and Health. (30.12.2004)

The pension fund shall choose the method of valuation in such a way as to apply uniform valuation principles for the assets legible for a specific purpose. If the pension fund chooses to respect the fair value of a fair value pursuant to subparagraphs 4 or 5, the Foundation shall not be able to apply the same funds as those specified in paragraphs 1 to 3 at the same time as the Valuation principles. The chosen method of measurement is applied consistently. (30.12.2004)

The asset shall be transferred from the group of investments to be considered as investment asset or asset item in the balance sheet value referred to in paragraphs 1 to 3 in accordance with the valuation principles defined in paragraphs 1 to 3. (30.12.2004)

The balance sheet shall be appended to the balance sheet item on the balance sheet and the fair value of the investments as specified by the Insurance Supervisory Board. (30.12.2004)

The Insurance Supervisory Authority shall lay down further provisions on the valuation conditions for the fair value of the investments, the determination of the fair value of the investments and the cost of the acquisition, the transfer of investment and fixed assets, and the The presentation of the depreciation of long-acting expenses. (30.12.2004)

Article 41b (30.12.2004)

Article 41b has been repealed by L 30.12.2004 1323 .

ARTICLE 42 (30.12.2004)

More specific provisions resulting from the specific nature of insurance activities, for the balance sheet and profit and loss account, and for the information on the balance sheet and the profit and loss account and for the information to be provided in the activity report, and for the breakdown of the balance sheet and the breakdown of the notes, By decree of the Ministry of Social Affairs and Health.

The Regulation of the Ministry of Social Affairs and Health may provide for when and how to derogate from the provisions on the drawing up of the annual accounts and the activity report with a view to giving a true and fair view.

The Insurance Supervisory Authority shall lay down more detailed provisions resulting from the specific nature of the insurance activities in the preparation of the annual accounts of the pension fund and the activity report.

The Insurance Supervisory Authority may issue guidelines and opinions on the application of the regulation referred to in paragraph 1 of the Ministry of Social Affairs and Health and on the application of the accounting law and regulation to the pension fund.

For a specific reason, the Insurance Supervisory Authority may, for a limited period, grant an exemption from the provisions and provisions referred to in paragraph 4, where the derogation is necessary to obtain a true and fair view of the activities of the pension fund The result and financial position.

Where provision, instruction or authorisation referred to in this Article is relevant to the general application of the provisions of the Accounting Act or Regulation, the Ministry of Social Affairs and Health, or Before issuing an order, a guideline, an opinion or an authorisation, the Insurance Supervisory Authority shall request the opinion of the Accounting Board.

For specific reasons, the Insurance Supervisory Authority may, for specific reasons, grant derogations from paragraph 1 and Article 9 (1) of Chapter 2 of the Accounting Act and Article 6 of Chapter 3 of the Accounting Act.

Chapter 6

Pension liability and coverage and solvency capital (20/04/2013)

ARTICLE 43

The liability arising from commitments under the rules of the pension fund shall be entered on the balance sheet of the pension fund on the liability side of the pension fund.

The pension liability shall be calculated:

1) before the balance of payments and other benefits;

(2) pensions and other benefits to the persons covered by the pension fund, in so far as the pension or other benefit is to be considered by the date of the closure of the balance sheet and the persons covered by the pension fund; Against pensions and other benefits;

(3) worker's pension (185/2006) A supplementary insurance liability for the maintenance of the solvency required for operation, which may be used to cover the loss of investment activity and the reduction of contributions, as specified by the relevant ministry;

4) on the liability of voluntary supplementary pensions and other benefits ( Indexation exposure ), which may be used not only for future increases but also for the increase in the pension liability resulting from the modification of the calculation criteria, as specified by the Insurance Supervisory Board; and

(5) the amount of supplementary insurance liability referred to in Article 168 of the pension law of the employee who, when calculating the pension liability referred to in paragraphs 2 and 3, shall take into account the amount of the pension liability as an increase or a reduction in the amount of the pension.

(08.12.2006/11)

Pension liability shall be calculated in the cases referred to in paragraph 2 (1), (2) and (4), in accordance with the provisions of the Insurance Supervisory Authority, unless otherwise provided for elsewhere by law, and in the case referred to in paragraph 3, in accordance with the provisions of the relevant Ministry. (29.1.1999/85)

When calculating the pension liability for persons covered by the pension fund, a pension or other benefit under the pension scheme of a non-employed person shall be considered to be accrued from the period of entitlement to a pension before the retirement age. However, the pension liability shall be at least equal to that would have been the case if the person had ceased to be covered by the accounts at the account.

When the resources of the pension fund are not sufficient to cover the pension and other liabilities, the difference between the balance sheet shall be recorded as a liability.

ARTICLE 44 (19,2006/391)

The criteria for calculating the pension liability of the A pension fund or the AB pension fund shall be drawn up in the light of the protection of the benefits of the persons covered by the scheme and of those who have been given a free book as well as the recipients of pensions. The variables used to calculate pension liability, such as assumptions about death, life expectancy and disability, and economic assumptions should be chosen with caution. The actuarial methods must be the same from one financial year to another if there is no reasonable cause for change.

If the criteria for calculating the pension liability of a Category A pension fund or an AB pension fund are amended as a result of changes in legislation, demographic or economic situation, so that pension liability in accordance with the new criteria is in accordance with the old criteria Higher, the Insurance Supervisory Authority may authorise a pension fund to be authorised under Paragraph 43 (5), to be covered by Article 46 (5) within the prescribed period, but within a maximum period of 10 years ( Catechia ).

A prerequisite for the authorisation of an insurance supervisory authority is that the pension fund draws up a viable plan for the purpose of drooling within the time limit, but within a maximum period of 10 years. The grant of the authorisation and the length of the period referred to above must be based on the average increase in the level of payments due to the estimated loss of catheters in the pension fund. The plan shall be accessible to persons covered by the activity and to the beneficiaries and to the recipients of pensions.

The Insurance Supervisory Authority shall lay down further provisions on the content of the calculation criteria for calculating the pension liability of the AB pension fund and the AB pension fund. The Insurance Supervisory Authority may provide more detailed provisions on the application of safety and prudence on the basis of calculation and the choice and assumptions of parameters for calculating the pension liability.

Article 44a (19,2006/391)

The interest to be used for the calculation of the pension liability of the A pension fund and the AB pension fund shall be used with caution.

The setting of the maximum rate in accordance with paragraph 4 shall take into account the market yield of long-term high quality or long-term government bonds.

Notwithstanding the provisions of Article 4 (4), the interest rate to be used for the calculation of the pension liability of the A pension fund or the AB pension fund may, with the authorisation of the Insurance Supervisory Authority, choose the maximum interest rate referred to in paragraph 4. A higher level of pension liability, depending on the level of income of the comprehensive asset, by making it a sufficient reduction in the level of security. In this case, account shall also be taken of the level of revenue from the establishment of future payments. The level of income shall be adjusted to reflect the return on future investments, in so far as the duration of the investments covered by pension liabilities is less than the duration of the pension liability. Where appropriate, the Insurance Supervisory Authority shall provide more detailed provisions for the application referred to in this paragraph.

The maximum rate of interest to be used for calculating pension liability is laid down by a decree of the Ministry of Social Affairs and Health.

ARTICLE 45

The employer shall pay at least one third of the contributions to the B-pension fund and the AB pension fund, or set a margin for pension liability in order to meet the risk of exposure, at least in order to ensure that they are in combination with the B pension fund or The AB pension fund's other returns are sufficient to cover the benefits accruing from pensions, the other expenses of the pension fund or its B block, as well as the annual change in pension liability. (20,2015/322)

L to 22/2015 Paragraph 1 shall enter into force on 1 January 2017. The previous wording reads:

The employer shall pay at least one third of the B to the pension fund and B to the AB pension fund or set eligible collateral to cover the loss of liability at least in such a way as to ensure that: The 'B' pension fund or the other earnings of the AB pension fund are sufficient to cover the benefits accruing from pensions, the other expenses of the pension fund or its B block, as well as the annual change in pension liability.

The employer shall pay contributions to the A pension fund and the AB to the AB pension fund or set eligible collateral to cover the liability of the pension liability in order to meet the risk of liability each year, at least in such a way that they, together with the A In accordance with Article 47 or Article 146, an AB pension fund with other assets and guarantees is sufficient to cover the pension liability.

The contributions referred to in paragraphs 1 and 2 shall amount to at least the amount required to maintain the liquidity of the pension fund.

If the solvency capital of the B section of the pension fund or the AB pension fund exceeds the capital adequacy ceiling under Article 48c (2), the excess may be exceeded, subject to the conditions laid down in Article 48 (2), with the consent of the financial supervision The employer. In the AB pension fund, reimbursement shall be subject to the provisions of Section A's pension liability in accordance with Article 47. The Ministerial Decree of the Ministry of Social Affairs and Health provides, where appropriate, that, when assessing the case, certain items are disregarded in the capital adequacy capital and that the value of certain assets is calculated from a fair value. (20,2015/322)

L to 22/2015 Entered into force on 1 January 2017. The previous wording reads:

If the solvency capital of the B-pension fund or the AB pension fund exceeds the four-fold amount of the solvency threshold in accordance with Article 48c (2), the excess amount may be exceeded, under the conditions laid down in that Article, with the consent of the financial supervision The employer. In the AB pension fund, reimbursement shall be subject to the provisions of Section A's pension liability in accordance with Article 47. The Ministerial Decree of the Ministry of Social Affairs and Health provides, where appropriate, that, when assessing the case, certain items are disregarded in the capital adequacy capital and that the value of certain assets is calculated from a fair value. (20/04/2013)

If, in accordance with Article 47 of the AB pension fund or in accordance with Article 46 of the AB pension fund, and in accordance with the provisions adopted pursuant to it, the amount of the total amount of the exposure and the total amount of the The amounts corresponding to the pension and other liabilities of the pension fund are to be returned to the employer with the agreement of the Financial Supervisory Authority. The Ministerial Decree of the Ministry of Social Affairs and Health provides, where appropriate, that the value of certain assets in the ceiling is calculated from the fair value in the estimation of the value of certain assets. As a result of the return, there must be no liability to the A pension fund or the AB pension fund. In the AB pension fund, the reimbursement shall be conditional on the solvency capital of the AB pension fund exceeding the threshold of the solvency capital under Article 48c (2). (20,2015/322)

L to 22/2015 The amended Article shall enter into force on 1 January 2017. The previous wording reads:

If, in accordance with Article 47 of the AB pension fund or in accordance with Article 46 of the AB pension fund, and in accordance with the provisions adopted pursuant to it, the amount of the total amount of the exposure and the total amount of the The amounts corresponding to the pension and other liabilities of the pension fund are to be returned to the employer with the agreement of the Financial Supervisory Authority. The Ministerial Decree of the Ministry of Social Affairs and Health provides, where appropriate, that the value of certain assets in the ceiling is calculated from the fair value in the estimation of the value of certain assets. As a result of the return, there must be no liability to the A pension fund or the AB pension fund. In the AB pension fund, the reimbursement shall be conditional on the solvency capital of the AB pension fund exceeding the four-fold amount of the solvency limit in accordance with Article 48c (2). (20/04/2013)

The relevant ministry shall lay down more detailed provisions for the application of this Article. Where appropriate, the Insurance Supervisory Authority may issue instructions on the application of the provisions of the Ministry concerned pursuant to this section to the pension fund and on the application referred to in this Article and on the explanations provided in the application. (29.1.1999/85)

ARTICLE 46

Paragraph 1 has been repealed by L 20.3.2010 , which enters into force on 1 January 2017. The previous wording reads:

The B and AB pension fund shall cover the pension liability and liability of the employee in accordance with the provisions of Article 183 of the Pensions Code ( Gross amount of pension liability ) As set out in the Law on the calculation of the solvency limit and the liability of the pension institution (15/06/2006) Provides.

When calculating the gross amount of pension liabilities, care must be taken to ensure the security of the assets and liabilities covered by the ceiling, the yield and the financial dimension, and their proper diversification and diversification.

The pension fund shall cover the gross amount of the pension liability in respect of the assets of the species provided for in this Article, which at fair value according to the criteria laid down by the Insurance Supervisory Authority are sufficient to cover: The pension liability, after deduction of the following items:

(1) the reinsurer's contribution to the amount approved by the Insurance Supervisory Authority;

(2) entitlements based on the right of recourse; and

(3) in cases determined by the Ministry of Social Affairs and Health, for specific reasons, other items to be deducted.

(19,2006/391)

The Ministry of Social Affairs and Health may, for special reasons, order that certain funds belonging to the ceiling are valued in an aberrant manner. (19,2006/391)

The cover of the pension liability is, according to the provisions of Article 47 B to 47, be:

1) bonds and other monetary and capital market instruments;

2) loans and other assets based on debt certificates;

(3) shares and other shares of variable size;

(4) shares in investment funds and other comparable collective investment undertakings;

(5) rights relating to property, buildings and immovable property, such as pleasure and access rights and land lease rights, shares and units in real estate entities, rights to hydroelectric power in the hydroelectric power plant, provided that: That the right of access to the hydro-electric power is fixed as a mortgage, as well as building-time receivables from a real estate entity that owns the assets referred to in this paragraph and where the pension fund has absolute control;

(6) receivables from employers as well as other amounts receivable from the reinsurer than those mentioned in paragraph 3 (1);

(7) tax and other claims on the State and other public entities;

(8) the allocation of responsibilities in accordance with Article 16 of the Pension Regulation;

(9) non-material assets other than those referred to in paragraph 5;

(10) money and bank accounts, deposits in credit institutions and other institutions authorised to receive deposits;

(11) accrued income, such as accrued interest, accumulated rents and other income and expenditure forecasts; or

(12) a lack of responsibility for which a margin of security has been lodged.

(19,2006/391)

At the request of the pension fund, the Insurance Supervisory Authority may accept, as a time limit, the amounts and commitments other than those referred to in paragraph 5 for a period of time other than those referred to in paragraph 5. Of the Funds. (19,2006/391)

The provisions of this Law on buildings, buildings and the rights referred to in Article 5 (5) shall also apply to the establishment of a real estate entity domiciled in the EEA State where the pension fund is in possession of In the same way as if these funds were directly owned by the pension fund. The provisions of this paragraph shall also apply to a property entity domiciled in the EEA State, where the pension fund is dominant in combination with one or more of the same employers or the pension fund of the same group of employers. Or by the Insurance Supervisory Agency on the application of the pension fund to the real estate entity referred to in this paragraph. (19,2006/391)

The Insurance Supervisory Authority shall, where appropriate, provide for more detailed provisions on the location of the assets and liabilities covered by the pension cover, the limitation of foreign exchange risk and the organisation of the foreign exchange movement, the use of derivative contracts in the margins, In the light of the valuation of collateral and the value of the collateral, in the light of the commitments to which the collateral relates. Where appropriate, the Agency shall also lay down more detailed provisions for the assimilation of a system of exchanges in a State belonging to the European Economic Area to the stock exchange, the assimilation of the Community to the real estate community, the deposit bank or the insurance company, The ratio of contributions to the ceiling of the gross amount of the pension and the reading of the assets referred to in Article 47m (1) (2). (19,2006/391)

Paragraph 9 has been repealed by L 19.12.2008 .

The contribution of the pension liability of the pension fund shall be as specified by the Insurance Supervisory Board. (19,2006/391)

Article 46a (3 JUNE 2005/382)

The other Member States of the Organisation for Economic Cooperation and Development (OECD) shall be treated as a State belonging to the European Economic Area:

(1) for the purposes of Article 47b (1) (1);

(2) Article 47b (1) (2) and (3), Article 47c (1) to (3) and Articles 47d (1) (1) (1) and (2).

(19,2006/391)

As a result of the equivalent of paragraph 1 (2), a total of 10 % of the gross amount of pension liabilities can be read in the ceiling.

§ 47

A and AB pension fund shall cover voluntary supplementary pensions and other pension liabilities arising from other benefits. Pension liability may then be deducted from the amount of the catechism referred to in Article 44 (2). (19,2006/391)

The reference to the pension liability referred to in paragraph 1 shall apply mutatis mutandis to the provisions of Article 46 (2) to (6) on the coverage of the gross amount of the pension. However, the provision on burden-sharing in accordance with Article 5 (5) (8) shall not apply. 75 % of the ceiling shall be the resources and commitments referred to in Article 46 (3). (8 DECEMBER 2006)

Paragraph 3 has been repealed by L 19.5.2006/391 .

The contribution of the pension liability of the pension fund shall be as specified by the Insurance Supervisory Board. (29.1.1999/85)

The Insurance Supervisory Authority may issue instructions on the application of this section and the provisions and provisions adopted pursuant to it. (29.1.1999/85)

Article 47a (29.1.1999/85)

The Government of the Pension Foundation shall draw up a plan for the investment of the Foundation ( Investment plan ). The Insurance Supervisory Authority will provide more detailed provisions on the investment plan.

The investment plan of the A pension fund or the AB pension fund shall include a statement of the principles of investment policy. The report shall be reviewed without delay after all major investment policy changes and at least every three years. An investment policy statement shall contain a description of the methods of measurement and management of the investment risk, as well as the strategy according to which the funds of the A-pension fund and the AB pension fund in respect of Section A have been allocated Taking into account the nature and duration of the pension liabilities. (19,2006/391)

Article 47b (19,2006/391)

The total gross amount of the pension liability shall be the following:

(1) debt certificates in which the debtor or guarantor is the EEA State, the Province of Åland or an international entity of which at least one of its members is an EEA State;

(2) debt certificates in which the debtor or guarantor is a municipality, an association of municipalities, a parish entity or any other regional public body with which the members are located in the EEA State; Tax collection law;

(3) debt certificates in which the debtor or guarantor is a Deposit Bank or an insurance company authorised in the EEA State, or any other entity which the Insurance Supervisory Agency equates to: The deposit bank or insurance company;

(4) fund shares in investment funds which, according to their rules, invest their assets in the categories of assets referred to in this Article and have established a management company that has been authorised in the EEA State, which has its registered office; The EEA State;

(5) shares in other investment funds in the same EEA State, in the case of collective investment undertakings which are subject to public oversight in the EEA State and which, according to their rules, place their assets within the meaning of this Article Assets; and

(6) debt certificates secured by debt certificates or fund shares referred to in paragraphs 1 to 5.

The Insurance Supervisory Authority shall provide more detailed provisions for the calculation of the amounts of funds referred to in paragraphs 1 (4) and (5) to the margin of the gross amount of the pension.

Article 47c (19,2006/391)

Not more than 50 % of the assets and commitments covered by the gross amount of pension liabilities shall be:

(1) debt certificates in which the debtor or guarantor is a credit institution authorised in the EEA State by a credit institution authorised in the EEA State other than the deposit bank referred to in Article 47b (1) (3) or any other entity assimilated to it under the same paragraph;

(2) debt certificates in which the debtor is a entity domiciled in the EEA State and whose shares or shares are traded on a regulated market in the EEA State;

(3) debt certificates which are traded on a regulated market in the EEA State and where the debtor is an entity other than those referred to in paragraphs 1 or 2, or points 1 to 3 of Article 47b (1); and

(4) debt certificates secured by debt certificates as referred to in paragraphs 1 to 3.

Article 47d (19,2006/391)

Not more than 50 % of the assets and commitments covered by the gross amount of pension liabilities shall be:

(1) shares and units of entities domiciled in the EEA State and whose shares or shares are traded on a regulated market in the EEA State, excluding shares and shares in the real estate entity;

(2) commitments issued by the entities referred to in paragraph 1 which are subordinated to other Community commitments;

(3) fund shares in investment funds which, according to their rules, invest in the assets referred to in Article 47b or 47c or in this Article and have established a public oversight management company licensed in the EEA State, Is domiciled in the EEA State;

(4) fund shares in other investment funds in the same EEA State which is subject to public oversight in the EEA State and which, according to its rules, are located in Article 47b or 47c or in this case: The assets referred to in Article; and

(5) debt certificates secured by shares, units, commitments or fund shares referred to in paragraphs 1 to 4.

The Insurance Supervisory Authority shall lay down more detailed provisions for the calculation of the amounts of funds referred to in paragraph 1 (3) and (4) to the ceiling on the gross amount of the pension.

Article 47e (19,2006/391)

Not more than 40 % of the assets and commitments covered by the gross amount of pension liabilities shall be:

1) buildings and buildings in the EEA State;

(2) rights relating to immovable property or hydropower in the EEA State referred to in Article 46 (5) (5);

(3) shares and units in real estate entities domiciled in the EEA State; and

4) debt certificates and construction assets from real estate entities in accordance with paragraph 3, where the pension fund has the power to impose.

Together with the types of assets referred to in paragraph 1, a total of up to 70 % of the gross pension amount of the pension liabilities shall be covered by debt instruments for which the mortgage is valid for the purposes of Article 1 (1) or (2). The asset or the shares or units referred to in paragraph 1 (3).

Article 47f (19,2006/391)

A maximum of 25 % of the gross amount of pension liabilities may be covered by means of funds and commitments placed in one location where the question is an investment:

(1) debt obligations in which the debtor or guarantor is a public entity within the meaning of Article 47b (1) (2) or a credit institution within the meaning of Article 47c (1); or

(2) the investment fund referred to in Article 47b (1) (4) or (5) or Article 47d (1) (3) or (4).

Debt certificates as referred to in paragraph 1 (1) shall be equivalent to the debt-certificates collateralised by such debt certificates.

Where the Community shares or other shares of the Community referred to in paragraph 1 are quoted on a regulated market, the maximum limit for the application of the ceiling shall also include the calculation of the Community shares and shares and the commitments which are subordinated to other Community instruments. Commitments.

Article 47g (19,2006/391)

A maximum of 15 % of the gross amount of pension liabilities may be covered by means of funds and commitments placed in one location where the question is an investment:

(1) the property, building, court or property community referred to in Article 47e (1) (1) to (3);

(2) debt obligations for which the guarantee is valid for one of the items referred to in paragraph 1 or for which shares and shares in the same real estate entity are collater; or

(3) debt-and-building claims on a real estate entity within the meaning of Article 47e (1) (3), where the pension fund is dominant.

If the property, the building, the object of the right referred to in paragraph 1 (1), or the object of the mortgage fixed as collateral of the debt instrument are one and the same or are located so close together, they may be considered as a single investment, all The investments referred to in paragraph 1 relating to this item shall be calculated for the purposes of the maximum limit laid down in that paragraph.

Article 47h (19,2006/391)

A maximum of 5 % of the gross amount of pension liabilities may be covered by the funds and commitments placed in one of the same Community shares and units referred to in Article 47d (1) (1) and (2), as well as for commitments where: Is subordinated to other Community commitments.

Together with the types of assets referred to in paragraph 1, a total of up to 10 % of the gross amount of the pension liabilities shall be:

(1) debt obligations of the same entity which are not secured or secured by the assets referred to in paragraph 1; and

(2) debt certificates issued by other debtors which are collaterised in accordance with paragraph 1 or the same Community funds referred to in paragraph 1.

In addition to the provisions laid down in paragraphs 1 and 2, the total amount of the funds and commitments covered shall not exceed 10 % of the debt obligations referred to in Article 47c (3) of the Community.

Article 47i (19,2006/391)

The assets and commitments covered by the gross amount of pension liability may be invested in assets referred to in Article 47b-47e, the value of which is mainly based on the activity of the employer, up to 25 % of the gross amount. However, in the case of a single functional entity, a maximum of 15 % of the gross amount of pension liabilities may be invested.

The Insurance Supervisory Authority may, for specific reasons, grant derogations from the provisions of paragraph 1.

Article 47j (19,2006/391)

For the purposes of applying the maximum limits laid down in Articles 47c, 47d, 47f, 47h and 47i, investments which affect or relate to the rest of the Community within the same group shall also be added.

Article 47k (8 DECEMBER 2006)

Article 47k has been repealed by L 8.12.2006/1116 .

Article 47l (8 DECEMBER 2006)

Articles 47 b to 47 j shall apply in the case of a reduction of 75 % of the pension liability of the A pension fund referred to in Article 47 (2) and the AB pension fund.

Article 47m (19,2006/391)

A part of the pension liability of the A pension fund referred to in the third sentence of Article 47 (2) and Part A of the AB pension fund shall, in addition to the provisions of Articles 47b to 47j: (8 DECEMBER 2006)

(1) debt certificates in which the debtor is an employer and who does not have an employer independent of an employer in accordance with Article 47b-47e, and a total of 10 % of the total shares and units quoted in the employer's regulated market in the EEA State; Gross pension liability; and

2) other resources and commitments.

The Insurance Supervisory Authority shall lay down further provisions on the conditions under which the funds referred to in paragraph 1 (2) may be read in the margin.

Article 47n (19,2006/391)

Not more than 30 % of the assets and commitments of the AB pension fund and the AB pension fund shall be denominated in a currency other than that of the euro or of assets and liabilities that are not fully protected Exchange rate changes.

Article 47o (19,2006/391)

The Insurance Supervisory Authority may, on application by the pension fund, suspend the maximum limit provided for in Article 47 c-47h and Article 47m.

ARTICLE 48 (20/04/2013)

§ 48 has been repealed by L 20.07.2012/443 .

Article 48a (20/04/2013)

The solvency capital of the B-pension fund and the "B" section of the AB pension fund shall mean the amount in which the assets of the employee's pension law and other comparable commitments and guarantees exceed the liabilities arising from the said insurance activities. And other similar undertakings, as provided for in paragraphs 2 to 7 and under Article 7 (7). The calculation of the amount of pension liability shall not take into account the supplementary insurance liability referred to in Article 43 (2) (3).

The following items shall be included in the solvency capital of the pension fund:

(1) own capital accumulated in the accounting year and in the preceding financial years;

2) the accounting law (1336/1997) in Chapter 5, Section 15 Voluntary reservations;

(3) supplementary insurance liability;

(4) the positive difference between the fair value and the accounting values of the assets in so far as it cannot be considered exceptional in nature;

(5) an additional payment of up to 4 % of the payroll of the pension fund, on the basis of an additional payment obligation for the employer, provided that the item meets the requirements set out in Article 48g;

(6) on the application of the pension fund and with the agreement of the financial supervision, other items equivalent to those mentioned in paragraphs 1 to 5.

The items in accordance with paragraph 2 (1), (2), (4) and (5) may be read in the AB pension fund to the extent that, according to the records of the pension fund, they belong to the B block or are the property of the B block.

The capital adequacy capital shall be reduced:

(1) the loss of the financial year and the preceding financial years;

(2) a positive difference between the book values and the fair value of the assets;

(3) all items in the balance sheet that are not included in the balance sheet, the performance of which must be considered likely.

The items listed in paragraph 4 of the AB pension fund shall be deducted from the capital adequacy capital in so far as, according to the records of the pension fund, are included in the BSB's balance sheet or are subject to Title B's obligations.

The Decree of the Ministry of Social Affairs and Health may provide that the bonds and other monetary and capital instruments referred to in paragraph 2 (4) and (4) (2) may be valued at the solvency capital of the pension fund. From their fair value aberrant.

Financial supervision may provide more detailed provisions on the items to be read and deducted from the capital adequacy capital.

Article 48b (20/04/2013)

The solvency limit for the pension fund performing an activity in accordance with the pension law of the worker shall be determined in a risk-theoretical manner, taking into account the solvency capital requirement of one year, taking into account the risks of the insurance business and investment. The calculation of the solvency limit is further specified in the Act on the calculation of the solvency limit of the pension institution and the devolution of investments (315/2015) . (20,2015/322)

L to 22/2015 Paragraph 1 shall enter into force on 1 January 2017. The previous wording reads:

The solvency limit of the pension fund performing an activity in accordance with the pension law of the worker shall be determined in a risk-based manner, taking into account the risk capital requirement of one year, taking into account the risks of the insurance business and the distribution of the investment. Property species. The calculation of the solvency limit is further specified in the Act on the calculation of the solvency limit of the pension institution and the coverage of the liability debt.

The Minimum Capital Requirement of the Pension Foundation shall be one third of the solvency limit.

Article 48c (20/04/2013)

The pension fund shall transfer the annual performance of the investment activity to the supplementary insurance liability referred to in Article 43 (2) (3). In addition, the pension fund may be transferred to the supplementary insurer under Section 6 from the "A" section. After the performance of the investment activity and the transfer of the overcover, additional insurance liability may be increased or disassembled by contributions as provided for in paragraphs 2 to 7. The pension fund may also unburden additional insurance liability as a return on the solvency capital as provided for in Article 45 (4).

The maximum amount of the solvency capital of the pension fund is three times the amount of the solvency threshold, but at least 50 % of the pension liability minus the additional insurance liability. Support may be increased by contributions up to a maximum level of solvency capital. (20,2015/322)

L to 22/2015 (2) shall enter into force on 1 January 2017. The previous wording reads:

Support may be increased by contributions to the solvency limit of four times the amount of the solvency limit ( Maximum capital adequacy capital ) Up.

Additional insurer liability may be reduced in order to reduce contributions in such a way that the solvency capital is at least 1,3-times greater than the solvency limit after the dismantling. (20,2015/322)

L to 22/2015 (3) will enter into force on 1 January 2017. The previous wording reads:

Additional insurer liability may be reduced in order to reduce contributions in such a way that the solvency capital is at least 1,4-fold higher than the solvency limit after the dismantling.

A pension fund with a solvency capital after the application of paragraphs 1 and 3 up to a level of 1,3-fold in relation to the solvency limit and at least equal to the solvency threshold may be disassembled in a similar manner to a reduction in the amount of the premium To the extent that occupational pension insurance companies may, pursuant to Article 169 of the Pensions Act, provide discounts on insurance premiums on the basis of their investment activity. The criteria for landing are included in the calculation criteria for pension liability granted under Article 166 of that law. (20,2015/322)

L to 22/2015 Entered into force on 1 January 2017. The previous wording reads:

A pension fund with a solvency capital after the application of paragraphs 1 and 3 up to a level of 1,4-fold in relation to the solvency limit and at least equal to the solvency threshold may be disassembled in a similar manner to a reduction in the rate of contribution To the extent that occupational pension insurance companies may, pursuant to Article 169 of the Pensions Act, provide discounts on insurance premiums on the basis of their investment activity. The criteria for landing are included in the calculation criteria for pension liability granted under Article 166 of that law.

A pension fund with a solvency capital lower than the solvency limit shall not be allowed to reduce the additional insurance liability. Where there is no other way of confirming the solvency, the additional insurance liability shall be reduced by contributions. However, where the solvency capital falls below the solvency threshold following the transfer of the loss of investment activity under paragraph 1, additional premiums shall be reduced by contributions up to the solvency limit.

In the case of a pension fund with a solvency capital greater than the maximum level of solvency capital for the second consecutive year, the additional insurance liability shall, from the year of the term, be reduced to a reduction of one-third annual amount of contributions. The amount in which the solvency capital of the pension fund exceeds its ceiling. Where the overrun of the solvency capital ceiling can be considered to be of a permanent nature, the pension fund shall be organised in such a way as to reduce the amount of the solvency capital to a lower limit.

For the purposes of this Article, the capital adequacy capital shall be deducted from the amount of the employer's additional payment obligation referred to in Article 48a (2) (5).

Article 48d (20/04/2013)

As part of the investment plan, the government of the pension fund shall establish a risk management plan for solvency support for a period of five years. With the weakening of solvency, the need for increased contributions must not become so large that it would jeopardise the employer's ability to pay. The plan must be submitted to the Financial Supervisory Board. A new plan shall be drawn up if the financial supervision considers that the risk management plan cannot be implemented. The government of the pension fund shall apply the plan for setting the annual rate of payment.

A pension fund with a solvency capital less than the solvency limit shall immediately submit to the Financial Supervisory Board a plan for the recovery of the financial position of the pension fund. The health plan shall demonstrate that the capital adequacy capital of the pension fund exceeds contributions by adding or otherwise for a period of one year or, for specific reasons, with the authorisation of the financial supervision, within two years of the solvency limit.

A pension fund with a capital adequacy capital less than the Minimum Capital Requirement shall immediately submit to the financial supervision a short-term financing plan for adoption. The financing plan shall demonstrate that the capital adequacy capital of the pension fund exceeds the contributions by adding or otherwise within three months of the Minimum Capital Requirement. If the measures provided for in the financing plan have not been implemented within the time limit, the financial supervision may be extended by a maximum of three months for reasons of particular pressure.

Financial supervision shall, where appropriate, provide more detailed provisions for the preparation and transmission of the plans referred to in paragraphs 1 to 3.

Article 48e (20.3.2015)

Where a pension fund of optional supplementary pension activities guarantees a biometric risk, the level of return on investment or the level of benefits, the pension fund shall, in addition to the pension liability, have a sufficient amount of own funds to enable it to fulfil The insurance fund Article 83 (1) of the ec Treaty , in respect of the different classes of insurance, the requirement for a minimum quantity ( Minimum own resources ).

Own resources shall be in accordance with the risk type and the structure of the assets for all supplementary pension schemes. Funds shall not be committed to anticipated liabilities.

The own funds referred to in paragraph 1 shall consist of the following items:

1) equity funds committed and free of charge;

(2) own capital accumulated in the financial year and in the preceding financial years;

(3) the depreciation difference on the balance sheet pursuant to Article 12 (1) of the Accounting Act and the optional provisions referred to in Article 15 of that Chapter; and

(4) a positive difference between the fair value and the accounting values of the balance sheet assets in so far as it cannot be considered exceptional in nature.

The following items shall be deducted from the own funds referred to in paragraph 1 of the pension fund:

(1) the loss of the financial year and the preceding financial years;

(2) a positive difference between the book values and the fair value of the assets;

(3) the purchase of intangible assets for the purpose of the profit and loss account;

(4) all items which are deemed to be unmarked in the balance sheet, the performance of which must be considered likely; and

(5) the maximum possible loss to the pension fund for derivative contracts.

For specific reasons, financial supervision may, in part or in part, prohibit the pension fund from reading the funds referred to in Article 1 (4) of the Foundation.

Financial supervision may provide more detailed provisions:

1) items to be read and deducted from own funds; and

2) the establishment and timing of calculations of the fulfilment of the own resources requirements.

L to 308/2015 Article 48e shall enter into force on 1 January 2016. The previous wording reads:

Article 48e (27 MARCH 2009)

In addition to the pension fund, where a pension fund operating on a voluntary supplementary pension scheme guarantees the level of biometric risk, the level of return on investment or the level of benefits, the pension fund shall have a sufficient amount of own resources in addition to the pension liability.

Own resources shall be in accordance with the risk type and the structure of the assets for all supplementary pension schemes. Funds shall not be committed to anticipated liabilities.

For the purposes of calculating the minimum amount of own funds referred to in this Article, the insurance company law (521/2008) in Chapter 11 , Article 2 (3) to (6), Article 5 (1), (2), (5) and (7) to (9), Article 6, Article 12 (1) and Articles 13, 14 and 16 provide for the calculation of the capital of the life insurance company and the minimum operating capital.

The reinsurance undertaking shall be fully taken into account in the calculation of own funds as a factor in the calculation of own funds within the meaning of this Article.

Financial supervision may provide more detailed provisions:

(1) items to be read and deducted from own funds;

2) the establishment and timing of calculations of the fulfilment of the own resources requirements.

Article 48f (27 MARCH 2009)

If the pension fund guarantees the biometric risk, the return on investment and the level of benefits referred to in Article 48e, Article 45 (2) and (5) shall not apply to the supplementary pension scheme.

Article 48g (20.3.2015)

Where the amount of own funds referred to in Article 48e (2) and (3) of the pension fund is less than the minimum own funds referred to in Article 48e (1), the pension fund shall, without delay, submit to the Financial Supervisory Authority the financial position A restructuring plan. The health plan shall show how the pension fund in the course of the year fulfils the minimum own resources.

L to 308/2015 Article 48g shall enter into force on 1 January 2016. The previous wording reads:

Article 48g (20/04/2013)

In order to be eligible for a financial contribution under Article 48a (2) (5), the pension fund should be described in the risk management plan in accordance with Article 48d. In the case of a pension fund investment plan, solvency, investment distribution and income expectations, and in which case the solvency is reduced by contributions or reductions in contributions.

The burden of additional payment by the employer shall be measured in the light of the feasible objective set for it. The pension fund shall follow the implementation of the set of objectives set out in the risk management plan. The pension fund shall not be able to read the said item in the solvency capital if the activity of the pension fund does not correspond to the risk management plan.

After having established a solvency ratio, the pension fund of a lot based on the employer's supplementary payment obligation shall monitor the ratio of the solvency ratio to the average level of solvency of the occupational pension scheme. If the solvency of the pension fund in relation to the average level of solvency of the occupational pension scheme is reduced in such a way that the deviation significantly increases the risks of the activity of the pension fund, the pension fund should be limited to the use of supplementary insurance The reduction of contributions or the reinforcement of solvency capital by means of additional payments.

The amount of the solvency capital of the pension fund corresponding to the solvency limit shall consist of other items than that of the one mentioned in paragraph 1. However, the financial supervision may allow for a period of two years to read the above item in the context of the calculation of the solvency limit of the pension institution and in the context of Article 23 of the provisions on the liability of the pension institution, even if: The capital adequacy capital is lower than the solvency limit.

Article 48h (20.3.2015)

In accordance with Article 48a (2) (5), a requirement for an additional charge on the basis of a supplementary payment obligation under Article 48a (5) is that the pension fund should be described in the risk management plan as set out in Article 48d. The impact on some of the pension fund's investment plan, solvency, investment distribution and income expectations, and in which case the solvency is reduced by contributions or reductions in contributions.

The burden of additional payment by the employer shall be measured in the light of the feasible objective set for it. The pension fund shall follow the implementation of the set of objectives set out in the risk management plan. The pension fund shall not be able to read the said item in the solvency capital if the activity of the pension fund does not correspond to the risk management plan.

If an item based on the employer's additional payment obligation is included in the solvency capital, the pension fund shall monitor the ratio of its solvency to the average level of solvency of the occupational pension scheme. If the solvency of the pension fund in relation to the average level of solvency of the occupational pension scheme is reduced in such a way that the deviation significantly increases the risks of the activity of the pension fund, the pension fund should be limited to the use of supplementary insurance The reduction of contributions or the reinforcement of solvency capital by means of additional payments.

The amount of the solvency capital of the pension fund corresponding to the solvency limit shall consist of other items than that of the one mentioned in paragraph 1. However, financial supervision may allow for a period of two years to read the above item in the context of the calculation of the solvency limit of the pension institution and in the context of Article 28 of the Decentralisation Act, even if: The capital adequacy capital is lower than the solvency limit. (20,2015/322)

L to 22/2015 Entered into force on 1 January 2017. The previous wording reads:

The amount of the solvency capital of the pension fund corresponding to the solvency limit shall consist of other items than that of the one mentioned in paragraph 1. However, the financial supervision may allow for a period of two years to read the above mentioned item in the situation referred to in Article 23 of the Law on the calculation of the solvency threshold and the liability of the pension institution, even if: The capital adequacy capital is lower than the solvency limit.

L to 308/2015 Article 48h entered into force on 1 January 2016.

Chapter 7

Rules of communication, payment of benefit and limitation of liability of the pension fund (19,2006/391)

ARTICLE 49

The provisions of this Chapter shall apply to non-statutory benefits.

§ 49a (19,2006/391)

The 'A' pension fund and the 'A' section of the AB pension fund shall provide members of their operating circle and free-book persons, as well as, where appropriate, their representatives, with the rules of the pension fund showing the extent of their pension rights, The conditions and possibilities for selection and, within a reasonable period of time, relevant information on changes to the rules of the pension system.

The A-pension fund and the AB pension fund shall provide each year with an annual report on their financial situation to the members of the ABS and the persons who received the free book.

Each pensioner shall receive, in the event of retirement or other benefits, details of the pension and other benefits to which he is entitled. In addition, each pensioner and, where appropriate, his representative, shall be informed within a reasonable time of any material changes to the rules of the pension system.

Article 49b (19,2006/391)

Persons, pensioners and, where appropriate, their representatives shall receive, upon request:

(1) the annual accounts and the annual report and, if the pension fund is responsible for more than one pension scheme, the annual accounts and the annual report of each pension scheme;

2) an inventory of investment policy principles.

Persons covered by an action and free book shall receive detailed information on request:

1) the target level for pension benefits;

(2) the level of benefits at the end of the insurance relationship; and

(3) rules on the transfer of pension rights to a pension institution in the event of termination of an employment relationship.

Persons subject to the movement's disposal shall receive, upon request, details of the amount of the accrued pension benefit, the transfer of benefits and their rights in the event of transfer.

§ 50

The application must be submitted in writing. The applicant shall provide to the pension fund the documents and particulars necessary for the assessment of the exposure of the pension fund and may reasonably be required, taking into account the possibility for the pension fund to obtain a report.

The employer is obliged to provide the pension fund with all the information necessary for the implementation of this law.

An insurance or pension institution shall, upon request, make available to the pension fund, for the purposes of coordinating pensions, free of charge of all information in the case of the present case.

ARTICLE 51

If the claimant is a minor, or if he/she is unable to claim a pension for illness or other reason, or who has a guardian or a trusted man, the person who is principally caring for the other applicant, as approved by the pension fund, may be the guardian To exercise his authority in the case of a pension under this Chapter.

Under the conditions laid down in paragraph 1, the pension fund may make a pension to the family of the beneficiary or to any other person.

ARTICLE 52

The pensioner is obliged to inform the pension fund of any change affecting his entitlement to a pension or to the amount of the pension.

The pension fund may require the pensioner to report on matters affecting the amount of the pension and the statement that he/she continues to fulfil the conditions for obtaining a pension. If the pensioner has not provided a statement to the pension fund within a reasonable period prescribed by it, the pension fund may decide to suspend the pension until the report has been submitted.

ARTICLE 53

The pension shall not be made retroactively for a period longer than the six-month period prior to the application for a pension or from a period prescribed by the rules of the pension fund.

A benefit other than a pension under threat of loss of entitlement shall apply within six months of the date on which entitlement to the benefit has been incurred, unless the rules of the pension fund provide for a longer period. However, in spite of the delay, the benefit may be granted either in full or in part, if its refusal is to be considered unfair.

ARTICLE 54 (29.1.1999/85)

The pension fund shall have the right to pay a lump sum for old age or survivors' pensions, or a disability pension based on a free book, which is less than eur 20 per month or, with the agreement of the pensioner, eur 40 per month. The settlement shall be calculated in accordance with the provisions of the Insurance Supervisory Authority, unless otherwise provided for by law.

ARTICLE 55

In the event of a delay in the performance of the pension and other benefits, the pension fund is required to pay a delayed pension or other benefit from the delay in the event of delay. The increase of the benefit per year shall be Article 4 of the Corinth Act The interest rate referred to in paragraph 3 and shall be calculated from each day of the delay. The delay shall be deemed to begin when three months have elapsed since the end of the calendar month in which the applicant has submitted to the pension fund the documents and particulars referred to in Article 50. However, on the basis of the same decision, the subsequent increase shall be calculated from the due date.

If the benefit referred to in paragraph 1 has not been paid in the right time due to the duration of the benefit, the pension fund shall not be obliged to pay the benefit over a longer period than the date on which the obstacle to the pension fund has ceased. If a benefit is delayed due to a provision of the law, or in the event of an interruption of public transport or traffic or any other force majeure such as that, the pension fund shall not be required to pay the benefit, in accordance with From the source of the delay. A bonus of less than eur 5 shall not be paid. (30.12.1998/1210)

The Ministry of Social Affairs and Health may issue provisions on the application of this Article.

ARTICLE 56

If the rules of the pension fund do not provide otherwise, the right to an invalidity pension shall not be given to the person covered by the pension fund because of an illness that has clearly occurred before the start of the employment relationship, or a defect or In the case of an injury obtained prior to the date. However, this limit shall not apply where the employment relationship has continuously continued for at least two years.

ARTICLE 57

Where an applicant or a representative of his or her representative has fraudulently given false or incomplete information which is relevant to the benefit or the amount of the benefit under the rules of the pension fund, the applicant may be refused or Shall be reduced according to the circumstances of the circumstances.

ARTICLE 58

The pension fund shall be free of responsibility for any person or other beneficiary of an activity which has intentionally caused the event.

Where a person or any other beneficiary has caused gross negligence on the part of a beneficiary, a benefit may be refused or suspended or reduced in accordance with the circumstances of the event; , it is reasonable.

The provisions of paragraph 2 shall also apply where a person within the scope of the action, without an acceptable reason, has not consented to a medical examination or treatment prescribed by a medical practitioner designated by the pension fund, Except for the measure.

ARTICLE 59

The pension fund shall not be liable for exemption from the provisions of Article 58 (1), where the beneficiary or other beneficiary was at the age or in the state of mind that he could not have been convicted of a criminal offence or, if applicable, The beneficiary or other beneficiary had acted in order to prevent damage to a person or property in such circumstances as to be defensible.

ARTICLE 60

Where a pensioner is subject to a custodial sentence or an expropriation of a custodial sentence, the pension may be paid from the period of time of the institution's institution, in full or in part or in part, or by the social committee concerned. It shall be made available to the Board of Appeal for the maintenance of the dependants of the pensioner who, according to the law, is obliged to take care of.

ARTICLE 61 (6.6.2003/421)

Supplementary pension and other benefits under the voluntary supplementary pension scheme shall also be paid to the beneficiaries of a pension or other benefits, under the same conditions as in Finland, within the European Economic Area. Such benefits may also be paid outside the European Economic Area unless otherwise provided for in the pension rules.

§ 62

If a person or any other beneficiary has benefited more than he/she has been entitled to, the benefit shall be recovered.

A benefit which has been unduly paid may be partially or fully withdrawn if it is considered reasonable and the payment of the benefit is not considered to be attributable to the person or the beneficiary or his representative The fraudulent conduct or if the amount to be recovered is limited.

The benefit unduly paid may also be recovered by offsetting its benefits in the future. However, the benefit of the beneficiary shall not, however, be reduced more than one sixth of the part of the benefit which is left after the benefit is subject to prior approval, without the consent of the beneficiary. (418/59) Or to a limited extent, pursuant to Article 5 of the Law on the taxation of income and wealth (18/07/78) A withholding tax levied on the basis of the case.

Advances of advances 418/1959 Has been repealed by the Advances Operator 1118/1996 .

ARTICLE 63 (30.12.1998/1210)

The amounts of the amounts provided for in Article 54 and Article 55 (2) shall be adjusted each calendar year according to the salary index, which shall be fixed annually for the purposes of Article 9 of the Workers' Pensions Act. The adjusted euro amount shall be rounded to the nearest ten cent.

Chapter 8

Supervision of pension funds

ARTICLE 64 (19/12/2015)

The supervision of pension funds is part of the financial supervision. The reference in this law to the Insurance Supervisory Board refers to the reference to financial supervision.

ARTICLE 65 (19/12/2015)

The pension fund shall, within five months of the end of the financial year or at a later date as determined by the financial supervision, submit to the financial supervision the financial statements, the activity report, the opinion of the auditors and the established formula. A statistical report on its activities. Financial supervision other information is provided for in the Law on Financial Supervision (878/2008) .

The pension fund shall provide the Ministry of Social Affairs and Health, within a reasonable period of time, of the information necessary for the performance of the tasks set out in this law by the Ministry.

ARTICLES 66 TO 68

Articles 66 to 68 have been repealed by L 19.12.2008 .

ARTICLE 69 (19,2006/391)

When the Insurance Supervisory Authority considers that the pension fund is or is to be put into a condition that the pension fund is to be dismantled, the Insurance Supervisory Authority may prohibit the pension fund from giving up or deposit the property of the pension fund.

The Insurance Supervisory Authority may prohibit the use of funds from the depositaries or depositaries referred to in Article 6a in the situations referred to in Article 6 (1) of the AB pension fund.

Chapter 9

Register of pension funds

ARTICLE 70

The register of pensions at the Ministry of Social Affairs and Health shall be recorded in the register of pension funds as well as the decisions and communications of the authorities as provided for in this Act.

Notifications shall be made to the Ministry in a manner that is determined by the Ministry.

The entries in the register and the relevant documents shall each be entitled to information.

ARTICLE 71

The establishment of a pension fund is a declaration for inclusion in the register of pension funds ( Notice of withdrawal ), which shall include:

(1) the name of the pension fund and the language of the name;

(2) the municipality of Finland as the place of residence of the pension fund;

(3) postal address of the pension fund;

(4) the life of the pension fund;

(5) the purpose of the pension fund;

(6) an employer belonging to the pension fund;

(7) the date on which the rules of the pension fund are laid down;

(8) personal data of a member of the Board of Directors and an alternate member and an agent;

(9) if the pension fund has a management board, the identity of the member and the alternate; and

(10) the rules governing the registration of the name of the pension fund and the identity of persons entitled to write the name of the pension fund.

A full name, personal identification number, address and nationality shall be entered in the register of natural persons in the register of animals. If you do not have a Finnish social security number, please enter the date of birth.

Where an employer of a significant pension in the register is a legal person, the business name, registration number and register of the legal person to which it is registered shall be entered in the register.

The declaration referred to in this Article shall be signed by each member of the Government.

ARTICLE 72

If there is a change in the state of the case, which has been entered in the register of pension funds, a notification must be made without delay ( Declaration of change ). The declaration shall be signed by at least one member of the Board of Directors or an agent.

Amendment to the Statute of the Financial Supervisory Authority, Article 20 (3) of the Financial Supervisory Authority and Article 26 (8) and Article 29 of the Law on Financial Supervision and Article 69 of this Act shall be entered in the register Without notice. (19/12/2015)

ARTICLE 73

The inclusion of a pension fund in the register of pension funds and changes to the register shall be communicated to the pension fund without delay by the Ministry of Social Affairs and Health.

ARTICLE 74 (14.5.2010)

§ 74 have been repealed by L 14.5.2010/398 .

ARTICLE 75

If the Ministry of Social Affairs and Health considers that it is not possible to carry out registration under the law, a decision must be taken. In addition to the decision, the documents must be returned to the Board of Directors.

ARTICLE 76

Where it has been established by a court of law that the registered decision is invalid or that the information entered in the register is not correct, the Ministry of Social Affairs and Health must be removed from the register. The court or tribunal shall send to the Ministry a copy of its legal judgment in this case.

ARTICLE 77

More detailed provisions on the pension fund register and, if necessary, provided by the Ministry of Social Affairs and Health.

Chapter 10

Clearing and liquidation

ARTICLE 78

The pension fund shall be liquidated and landed:

(1) unless, at the end of the last two calendar years, the number of persons covered by an activity has not met the minimum number laid down in Article 3 or laid down in the pension fund rules, and it cannot be considered likely that the number is mainly: In the next four months, at least the prescribed amount shall be raised;

(2) if it becomes apparent that the pension fund no longer meets the requirements of Chapter 3 of the Law on supplementary pension schemes in respect of a supplementary pension scheme in respect of a supplementary pension scheme or a supplementary pension scheme; or (27 MARCH 2009)

3) if the employer ceases its activities in which the persons insured under the pension fund are employed.

The Ministry of Social Affairs and Health may extend the period of four months referred to in paragraph 1, paragraph 1, to a maximum of one year, unless the insured benefits are thereby jeopardised.

In the case referred to in point (3) of paragraph 1, the Ministry of Social Affairs and Health may, on application, give consent to the continuation of the activities of the pension fund for a period not exceeding 10 years. Where the pension fund has obtained the authorisation referred to in this paragraph, the persons concerned, the beneficiaries of the pension and the other benefits, and the persons whose affiliation has been terminated as mentioned in Article 88 (2) thereof, Within the prescribed period, entitlement to a pension and other benefits under the rules of the pension fund. Upon receipt of that authorisation, the pension fund shall amend its rules to reflect the changed circumstances.

The pension fund may, in addition to the provisions of paragraph 1, decide on the setting up of a pension fund and its liquidation.

The provisions of this Chapter shall also apply where financial supervision has been imposed by the Financial Supervisory Authority under Article 26 of the Law on Financial Supervision. (19/12/2015)

ARTICLE 79

The decision to set up a pension fund shall be decided by the Board of Directors of the pension fund or the Board of Supervisors if the pension fund rules are so determined. The liquidation shall begin once the decision has been taken. However, in the case referred to in Article 78 (4), the Board of Directors or the Board of Supervisors may, in the case referred to in Article 78 (4), order the start of the liquidation period.

If no decision is taken by the Board of Directors or the Management Board to set up a pension fund in the case referred to in Article 78 (1), the Board of Directors or members of the Board of Directors or Advocates-General shall apply for a decision on the social and The Ministry of Health. The application may also be made by an auditor. The Ministry shall immediately take steps to give a decision.

The Ministry shall take measures to settle the pension fund, even if it finds that the conditions of Article 78 (1) are in place and that no decision has been taken in relation to the liquidation or liquidation of the pension fund. The application referred to in Article 2 (2) has not been submitted to the Ministry.

Article 79a (12/01/1249)

The financial supervision shall immediately inform the European Insurance and Occupational Pensions Authority of its decision ordering the liquidation and dismantling of the pension fund activity of the supplementary pension fund.

ARTICLE 80

At the same time as the Board of Directors or the Board of Directors decides on the liquidation of the pension fund, at the same time at least one liquidator shall be elected to replace the Board of Directors, the Management Board and the Ombudsman. The Ministry of Social Affairs and Health also has the right to appoint one liquidator. If the pension fund in liquidation has no eligible liquidators registered in the register, the Ministry shall provide the liquidator either on his own initiative or on his/her own initiative, the employer, the creditor or any other person. On an application which may depend on the fact that the pension fund has someone who can represent it.

At the same time, when the Ministry decides to liquidate the pension fund, it shall at the same time provide at least one liquidator.

The provisions of this Act concerning the Government, the members of the Government and the agents shall apply mutatis mutandis to liquidator, subject to the provisions of this Chapter.

Surveys are paid by the Ministry of Social Affairs and Health and the reimbursement of expenses from the pension fund. If the resources of the pension fund are not sufficient to pay the premium and the compensation, the missing part will be paid out of the funds collected from pension funds to compensate for the costs of the insurance check.

Notwithstanding the provisions of Article 32, the role of auditors shall continue during the liquidation period. Unless the pension fund in liquidation has an eligible auditor, the Ministry of Social Affairs and Health shall order the auditor either on his own initiative or on the basis of the declaration received. Clearing men are obliged to inform the Ministry of the absence of an auditor. The announcement can be made by another person.

Chapter 4, which provides for an audit, shall apply mutatis mutandis during liquidation. In addition, the audit report shall contain a statement as to whether, in the opinion of the auditors, the liquidation is unnecessarily prolonged.

§ 81

When the pension fund is liquidated, the liquidators shall, without delay, prepare the accounts and the activity report for the period prior to the liquidation, from which it has not yet been concluded. Where applicable, the financial statements, operational reports and audits shall be complied with. (30.12.2004)

If the period referred to in paragraph 1 also covers the preceding financial year, a separate annual accounts and an activity report shall be drawn up for that accounting year. (30.12.2004)

Notwithstanding the provisions laid down in this Article, each government is responsible for its term of office in accordance with this law and the rules of the pension fund for the financial years referred to in paragraphs 1 and 2.

ARTICLE 82

The clearing members shall, without delay, make a notification to the Ministry of Social Affairs and Health of a decision on the liquidation decision and the possible decision on the name of the pension fund to be entered in the register of pensions. The notification shall include the name of each liquidator, the postal address and his place of residence. The declaration shall be signed by any liquidator.

If the Ministry of Social Affairs and Health has ordered the establishment of a pension fund to be liquidised or ordered by the Ministry of Health, the Ministry shall enter the register in the register.

ARTICLE 83

Clearing men take care of the pension fund during the liquidation period.

During the liquidation of the pension fund, the liquidator shall be written by the liquidator or, if there are several, the liquidators together, unless otherwise decided in the setting of the liquidators.

§ 84

Clearers shall immediately apply for a public challenge to the creditors of the pension fund.

ARTICLE 85

The pension or any other benefit which is due to be payable during or before the liquidation shall be carried out subject to the agreement on the transfer of insurance activities within the meaning of Article 88 (1). The pension or other benefit due on the day of commencing of the bankruptcy or any other benefit shall be paid if the pension or other insurance event occurred before the start of the bankruptcy, with the funds covered by the pension liability arising from the pensions started.

ARTICLE 86

Where there is a lack of cash from the pension fund for the cost of care and pensions for the pension fund and for other benefits which, according to Article 85, are to be paid by the pension fund, the pension fund in liquidation may be made redundant by the employer. Immediately after termination. In such cases, the number of redundancies may not exceed the amount necessary for the abovementioned performance.

In addition to the provisions of Article 88 (1) of the Agreement on the transfer of insurance activities, Article 88 (1) may, in addition to that provided for in Article 88 (1), be made available to the pension fund in liquidation six months after the termination of the contract, even if: A longer period of notice would have been agreed.

ARTICLE 87 (30.12.2004)

The accounts shall be prepared by the clearing members for each financial year within four months of the end of the financial year. If the liquidation period has not been completed within two years, they shall at the same time state the reasons for the delay.

ARTICLE 88 (20/04/2013)

Pensions already started and pensions and other benefits under the rules of the pension fund, which are based on insurance relationships that have continued before the start of the liquidation period, must be safeguarded by purchasing a corresponding benefit from another From the insurance institution. If a person, a pensioner, or any other beneficiary of a pension or other benefit is lower than the ceiling fixed by the Financial Supervisory Authority, the pension or other benefit of the beneficiary shall be paid as a lump sum.

The pension fund whose termination has been caused by the cessation of the activity of the employer and the insurance relationship has ended within one year before the cessation of activity, shall also safeguard the rights arising from such an insurance relationship in accordance with paragraph 1.

Where the agreement referred to in paragraph 1 on the purchase of benefits under reasonable conditions shall not be achieved, the funds shall be allocated in proportion to the pension contributions to those who are entitled to them on the basis of the rules of the pension fund. The allocation of funds must be submitted to the approval of the Financial Supervisory Authorities.

If the resources of the pension fund are not sufficient to ensure the full benefits of the benefits, the funds must primarily be used for the pensions of those who have already retired, as well as pensions and other benefits against their beneficiaries and their survivors. Security. However, the amount of the pension fund by means of which the pension liability arising from the benefits of the persons covered by the Foundation's activities and related persons has been covered in accordance with the minimum standards laid down in Article 47 or 146 shall be used: Protection of benefits. Where the resources of the pension fund are not sufficient to secure benefits under Articles 47 or 146, the funds shall be used in proportion to the coverage requirements laid down in the legal provisions referred to above.

In the circumstances referred to in Article 78 (1) of the AB pension fund or in the situation referred to in Article 78 (1) of the AB pension fund, the benefit for pensions and other benefits in accordance with Article 48a of the insurance institution referred to in paragraph 1 The capital adequacy capital must be transferred at least equivalent to the prudential threshold. If the capital adequacy capital of the pension fund exceeds the amount corresponding to the solvency limit, the capital adequacy capital shall be transferred in full, but not more than twice the amount of the solvency limit or as referred to in paragraph 6 of the Ministry of Social Affairs and Health The amount laid down by the Regulation, whichever is the greater.

In the cases referred to in Article 100 (1), the amount of the solvency capital shall be transferred to the B-pension fund or the AB pension fund in the situations referred to in Article 100 (1), the amount of which shall be transferred to the receiving insurance institution. An investment distribution which corresponds to the average risk of the investment distribution of pension institutions engaged in activities under the pension law of the employee. The Ministry of Social Affairs and Health confirms the financial supervision proposal to be followed by the percentage of solvency capital in the transfer of insurance activities, as laid down in the Pension Insurance Companies Act (354/1997) in Article 29e Provides. The amount of the transferred solvency capital shall be determined in accordance with the percentage set out in the Regulation referred to in Article 2 (2) of that Regulation, which is valid at the time when the contract for the Extradition of Insurance is concluded. Where the amount of the solvency threshold calculated on the basis of the transferred assets exceeds the amount of the capital transferred under this paragraph, the solvency capital shall be determined by the amount of the solvency capital provided for the pension fund. And the outgoing employer shall complete the capital adequacy capital corresponding to the double amount of the solvency limit calculated on the basis of the transferred asset. If, pursuant to this paragraph, the amount of the solvency capital provided for is greater than the amount of the solvency capital equivalent to the amount of the capital transferred, the amount corresponding to the amount of the premium to be transferred from the pension fund shall be: Capital adequacy capital, and the outgoing employer shall supplement the capital adequacy capital to be disclosed in accordance with the amount provided for in this paragraph. For the purpose of calculating the contribution of the insurance activity to be disclosed in the calculation of the solvency capital of the pension fund, account shall be taken of the provisions on the determination of the pension liability used in the solvency calculation.

In the case of the transfer of solvency capital in accordance with paragraphs 5 and 6, the capital transferred capital shall consist of items which the receiving insurance institution can read in its solvency capital.

Paragraphs 5 to 7 shall also apply to the partial donation of insurance activities. However, the provisions of the articles mentioned shall not apply to the distribution of insurance activities in accordance with Article 100.

If funds remain in the B-pension fund in liquidation or B-block AB once the insurance activity has been transferred, the liabilities have been paid and all other commitments have been completed, the corresponding funds may be returned to the employer.

If funds remain in the AB pension fund or the AB pension fund after the insurance activity has been surrendered, the liabilities have been completed and all other commitments have been fulfilled, these funds may be returned to the employer or used by the The protection of the benefits of the pension and of the other benefits, as well as the benefits of the persons covered and of the persons covered, or by any other means prescribed in the rules of the pension fund.

Paragraph 1, which provides for the payment of funds as a lump sum and the provisions of paragraphs 2 to 4, shall not apply to the activities of the employee's pension law.

ARTICLE 89

If, within two years of the commencement of the liquidation, the pension fund has not concluded an agreement within the meaning of Article 88 (1) of the liquidation, the Ministry of Social Affairs and Health shall prescribe the date by which the contract must be awarded, Otherwise, the property of the pension fund shall be converted into money and distributed to those who are entitled to it under the rules of the pension fund.

The clearing members shall, without delay, draw up a list of the ratios to be followed within the meaning of Article 88 (3) and submit it to the Ministry of Social Affairs and Health. The Ministry shall keep the list for 30 days and shall notify it in accordance with Article 102 (2). An adjustment to the ratios may be applied to the Ministry within 30 days of the end of the period of time.

The provisions of this Article shall not apply to the activities of the employees' pension law.

ARTICLE 90

After the day of the public challenge to the creditors of the pension fund, the liquidators shall pay all known debt with the funds of the pension fund which are not required for the purchase or repurchase of the benefit referred to in Article 88 (1). If the debt is contested or undue, or if it cannot be paid for any other reason, the necessary resources shall be separated.

At the end of the activities of the pension fund, the security referred to in Article 48 shall be returned to the security provider in so far as it has not been used to fulfil the obligations arising from the pension cover referred to in Article 46 (1).

Where funds are left to the pension fund after it has completed its debts and has fulfilled all other commitments, they shall be used in accordance with the rules of the pension fund.

ARTICLE 91

When the pension fund is in liquidation, the persons concerned and the beneficiaries of the pension and other benefits shall have the same entitlement to the pension liability in respect of the property of the pension fund other than the holder of the movable property. The privilege provided for in this Article shall not be the prerogative of the holder of the cash deposit and the holder of the mortgage.

ARTICLE 92

After carrying out its duties, the liquidators shall, as soon as possible, give the auditors the final statement of their administration by drawing up a report on the whole settlement procedure. The report shall also include a description of the distribution of the property of the pension fund. The report shall be accompanied by the financial statements for the entire settlement period. Within one month, the auditors shall report to the liquidators an audit report on the final statement of accounts and the management of the liquidation. Settlement agents shall, without delay, provide the final statement with the annexes and the audit report to the Ministry of Social Affairs and Health.

The settlement men shall, without delay, report the final statement to the persons covered by the activity and to the persons concerned, as well as to the recipients of the pension and other benefits, by alerting them to a newspaper in the place where the pension fund is situated.

ARTICLE 93

If a person wishes to criticise the final statement of the liquidators, the action against the pension fund shall be brought before the district court of domicile of the pension fund within three months of the date on which the final statement was issued in accordance with Article 92 (2).

ARTICLE 94

The pension fund shall be deemed to be landed after the final statement has been lodged with the Ministry of Social Affairs and Health and the three-month period referred to in Article 93 has elapsed and no action has been brought against the pension fund. If the action against the pension fund has been raised, the pension fund shall not be deemed to be dissolved until the case has been legally settled. The Ministry shall make a statement on the landing of the pension fund in the register of pension funds and shall inform the Government of the patent and registry office for the purpose of the trade register after the liquidators have done to the Ministry Notice that the action has not been brought within the prescribed period or that the action has been legally settled.

The final statement and the minutes of the accounts, the minutes of the meetings of the administrative bodies of the pension fund, the documents relating to the pension decisions and the other documents which are essentially related to the activities of the pension fund shall be preserved in a manner acceptable to the Ministry of Social Affairs and Health. 10 years from the date on which the entry of the pension fund was entered in the register of pension funds.

ARTICLE 95

If the funds of the pension fund in liquidation are not sufficient to carry out the liquidation costs, the Ministry of Social Affairs and Health shall order the liquidation of the liquidators to be terminated and the pension fund to be terminated. Articles 81 (1) and (2), 84, 87, 90, 92, 93 and 94 (1) are not complied with. The missing part of the liquidation shall be paid out of the funds collected from pension funds to compensate for the costs of the insurance check. The Ministry shall, after that date, make a statement on the discharge of the pension fund in the register of pensions.

ARTICLE 96

If new assets appear after the retirement of the pension fund or otherwise need to be settled, the Ministry of Social Affairs and Health shall instruct at least one liquidator to continue the report.

If the amount of new funds available to the pension fund is limited, the Ministry may order them to the State or for use in any of the activities closely linked to the activities of the pension fund, without recourse to the liquidation procedure.

ARTICLE 97

If the pension fund is set up in the case referred to in Article 78 (4), the employer may, after the auditors have given their opinion, decide that the liquidation shall be terminated and the pension fund shall continue. However, the decision shall not be taken if the liquidation is a criterion in accordance with Article 78 (1) or if the property of the pension fund has been distributed or if the insurance has already been surrendered.

In the event of a decision to terminate the liquidation and the continuation of the activities of the pension fund, the pension fund shall be selected by a government and a possible management board.

After the election of the Board of Directors, the liquidators must make the decision to end the liquidation and inform the Ministry of Social Affairs and Health of the election of the Ministry of Social Affairs and Health in the register of social and health care. The decision shall not be implemented prior to registration. The public challenge applied to the creditors of a pension fund shall remain unaffected when the liquidation has been terminated in accordance with the provisions of this Article.

ARTICLE 98

The property of the pension fund may be made bankrupt only by the government or, where the pension fund is in liquidation, on the basis of the decision of the liquidators. During the course of the course, the pension fund shall be represented by the government and the trustee or the liquidators selected before the start of the bankruptcy. However, new members of the government or new liquidator may be selected during the course of the course.

The court is, if the Ministry of Social Affairs and Health makes a proposal, for a man to be believed to be a man, as proposed by the Ministry.

Articles 88, 89 and 91 for the liquidation of a pension fund shall be subject to the privileges of the claims, notwithstanding the fact that the property of the pension fund has been declared bankrupt.

If, at the end of the bankruptcy, there is no property left, the pension fund shall be deemed to have been wound up when the final statement of the bankruptcy has been approved. The administrator shall, without delay, submit a notification to the Centre of Justice from which the information is transmitted to the Insurance Supervisory Agency in the register of the pension fund. The declaration shall be signed by at least one of the administrators. (20.2.2004)

If there is any assets left and the pension fund was not in liquidation when its assets were declared bankrupt, the Board of Directors should decide as soon as possible to set up a pension fund. If the pension fund is in liquidation when it is declared bankrupt, the provisions of Article 96 shall be complied with.

ARTICLE 99

In the name of the pension fund in liquidation or in bankruptcy, the word 'in liquidation' or 'bankruptcy' shall be added.

Chapter 11

The merger and distribution of the pension fund and the transfer or receipt of insurance activities (6.6.2003/421)

ARTICLE 100 (17.11.2000/942)

Pension fund ( The merging pension fund; ) May, with the consent of the financial supervision, conclude an agreement on the merger to another pension fund ( Receiving pension fund ) In such a way that the insurance activities of the merging pension fund, comprising the pension liability, other liabilities and assets, are transferred without the clearing procedure to the receiving pension fund. Pension fund ( Give up the pension fund; ) May also, with the consent of the financial supervision, transfer its insurance activities to another pension fund, (16/04/1992) The pension fund or the insurance company ( Receiving insurance institution ), taking into account the provisions of Article 88 (6) of this Act concerning the transfer of capital reserves. Pension fund ( Distribution pension fund ) May also, with the consent of the Financial Supervisory Authority, split the settlement procedure by transferring to the pension fund to be established in or part of its insurance activities ( Receiving pension fund ) Or a pension fund to be set up, if the share company employed in the pension fund is broken down in accordance with Chapter 17, Section 1 of the Companies Act. (20/04/2013)

Distribution may take place in such a way that:

(1) the entire insurance activity of the divided pension fund and all its other assets and liabilities are transferred to two or more of the recipients of pension funds to be set up for that purpose and the pension fund is divided; or

(2) part of the insurance activity and related assets and liabilities shall be transferred to one or more of the pension fund set up for that purpose.

Merger Treaty (Merger Treaty) And the distribution agreement (contract of distribution ) Is approved by the Management Board of the governments of the employers and of the pension fund, or, where the pension fund has a Management Board, to the Management Board. The Agreement on the Extradition of Insurance shall be approved by the Board of Directors, or, if the pension fund has a board of directors, to the Administrative Board. Where the transfer of an insurance activity takes place on another pension fund, the Board of Directors of the receiving pension fund or, where the pension fund has a board of directors, the Management Board shall also approve the contract. The merger, division and transfer of insurance activities may be decided, even if the merger, division or revocation of the pension fund has been set up. In the case of extradition, the proportion of the insurance activity must be complied with, as is the case for the provision of insurance. (6.6.2003/421)

Where the pension fund is divided in accordance with the provisions laid down in paragraphs 1 and 2, the carry-over values may be applied in respect of the transferred assets.

The provisions of Articles 101 to 106 concerning the merger of the pension fund shall apply mutatis mutandis to the distribution of the pension fund.

Paragraphs 1 to 5 of this Article shall also apply in the case of a divided employer, other income tax law (1535/1992) Referred to as a public limited liability company.

Article 100a (6.6.2003/421)

The pension fund may receive the insurance activity of the other insurance institution, the liability of the pension fund referred to in Article 100, or the employer's employer's insurance policy for the insurance company.

For the purpose of receiving an insurance activity, liability and insurer under the pension scheme of the employee referred to in paragraph 1, the amount of the capital to be received must be equal to or greater than the amount laid down in Article 88 (6) or The amount corresponding to the double amount of the solvency limit referred to in Article 48b (1), if this is higher. Where the supplementary insurance cover transferred from a donor institution is less than the amount referred to above, the related employer shall complete the solvency capital up to the above amount. (20/04/2013)

ARTICLE 101

Paragraph 100 of Article 100 shall apply mutatis mutandis to a merger where two or more pension foundations are joined by the creation of a new pension fund.

In setting up a host pension fund, the Merger Treaty will replace the memorandum of incorporation. The agreement shall include a proposal for the rules of the receiving pension fund. The contract shall also specify the selection of the management and auditors of the receiving pension fund. These choices shall be made when the Merger Treaty has been approved and the Ministry of Social Affairs and Health has given consent to the merger and set out the rules of the new pension fund.

ARTICLE 102 (6.6.2003/421)

Within four months of the approval of the merger or the surrender of the pension fund and the receiving insurance institution, they shall seek the agreement of the Insurance Supervisory Authority An agreement and confirmation of the change in the rules for the provision of the pension fund for the adoption of the merger or insurance policy and, in the event of a merger within the meaning of Article 101, to the rules of the new pension fund. Adding and unloading pursuant to Article 78 (4) of the Pension Fund, as well as the provision of insurance or part of an insurance activity or part of an insurance activity or part thereof pursuant to Article 100 and Article 125 (1); It is not possible to receive, however, if the measure relates to insurance activities in accordance with the pension law of the employed person and if, at the time of delivery, the same insurance or part of that part of the same insurance or part of that activity has been less than five years. However, the minimum period of five years shall not be taken into account in the transfer of insurance activities resulting from the fact that the employer has become expelled from the pension fund under the rules of the pension fund or that the employer has had to resign; The pension fund because the employer no longer fulfils the conditions for membership of the pension fund.

An application requesting the approval of an insurance supervisory agency for a merger or a transfer of an insurance activity or part of an insurance activity shall be accompanied by an agreement on the merger or the surrender of insurance activities in the original and right Certified copies of the decisions of the merging or extradable pension fund and the receiving pension institution which have approved the contract. The Insurance Supervisory Authority shall, where appropriate, provide for more detailed provisions on the application referred to in this paragraph and the explanations provided in the application.

In the case of a merger or an application for the transfer of insurance, the Insurance Supervisory Agency shall, unless it considers that the application must be rejected without further explanation, be at the expense of the receiving insurance institution in the Official Journal. The alert shall invite those wishing to make a reminder of the application to submit them to the Insurance Supervisory Agency within a period prescribed by it, which shall not exceed two months. The Insurance Supervisory Authority shall, without delay, oblige the institution to dispose or receive the merging pension fund to ensure that the alert is provided, in accordance with the instructions of the Insurance Supervisory Authority, on the declaration board of the employer referred to in The measure concerns. The pension fund shall inform the beneficiaries of the insurance activity or of the other benefits of the insurance activity or of the other benefits in connection with the payment of the first benefits at the latest after the transfer. If the merger or the release or receipt of an insurance or part of an insurance policy or part of an insurance policy is subject to optional supplementary pensions and other benefits which cannot be carried out according to the rules of the pension fund, information shall be provided on the alert to the donor pension fund. A person, a pension and other benefits, and employers, as provided for in the rules of the pension fund.

For the application referred to in paragraph 1, financial supervision shall request the opinion of the Competition and Consumer Agency where the arrangement referred to in the application forms part of a competition law. (198/2011) Of the European Economic Community. (30.11.2015)

Paragraph 3 shall not apply where the transfer of part of the insurance activity to a person covered by an individual pension fund and the financial supervision has given its consent. (27 MARCH 2009)

The insurance supervisory authority shall give its consent to the measure referred to in paragraph 1, unless the measure is an infringement of the interests of the persons covered by the pension fund or of the beneficiaries of the pension and of the other benefits, and unless it is deemed to be: The healthy development of insurance activities.

The insurance shall pass to the receiving insurance institution at the time specified in the extradition agreement after the financial supervision has given its consent to the measure. The transfer date mentioned in the extradition agreement shall not exceed six months from the date of the extradition agreement. (11.3.2011/222)

If the consent has not been requested within the time limit, or has been refused, the merger or the transfer of insurance has lapsed.

L restrictions on competition 480/1992 Has been repealed with effect from 1 November 2011 in the Competition L 948/2011 , see On business control-Competition L 948/2011 Chapter 4 .

ARTICLE 103

The Ministry of Social Affairs and Health has to give its consent to the merger of pension funds and the transfer of insurance activities to the pension fund register.

ARTICLE 104

Within four months of the adoption of the consent referred to in Article 102, the pension fund shall apply to the receiving pension fund in the case referred to in Article 101, in the case referred to in Article 101, in the rules of the pension fund. The right of residence of the registered office of domicile, at the risk of the implementation of the Merger Treaty, that the merger would otherwise fall. The application shall be accompanied by a statement of the registration referred to in Article 103 and a list of the known creditors of the merging pension fund and their postal addresses.

The court shall issue an alert to the known and unknown creditors of the pension fund, calling on it, who wishes to oppose the application, to notify it in writing at the latest two weeks before the date of arrival at the risk of: The application shall be deemed to have been granted. The alert shall be put on the Court's notice board three months before the date of arrival and shall be published in the Official Journal twice, for the first time not later than 2 months and the second time no later than A month before the date of arrival. The Court of Justice shall expressly provide information to the Ministry of Social Affairs and Health and to all known creditors.

The application shall be granted, unless one of the creditors objects, or if the date on which it is established that the creditors who have objected to the application have received a full payment of their claims or that their claims have been recognised by the court Security. The decision to grant or refuse authorisation shall be communicated by the Court to the Ministry of Social Affairs and Health without delay.

ARTICLE 105

The pension fund shall report to the Ministry of Social Affairs and Health, as referred to in Article 104, to the Ministry of Social Affairs and Health within a period of four months from the date on which the decision on the authorisation has been granted. Where the court's permit is notified in the case referred to in Article 101, the withdrawal declaration referred to in Article 71 shall be lodged.

If, according to Article 104 (1), the merger has lapsed, the merged entity shall, without delay, make the notification to the Ministry of Social Affairs and the Ministry of Social Affairs significant. If the registration document referred to in paragraph 1 has not been completed within the prescribed period, or if the application has been rejected by the court, the Ministry shall record the lapsing of the merger.

ARTICLE 106

The merger shall be deemed to have occurred after the court's authorisation for a merger is entered in the register of pension funds. In addition, in the merger referred to in Article 101, it is required that the establishment of the receiving pension fund is entered in the register.

The assets of the merging pension fund, the pension liability and the debts, with the exception of the claim for reimbursement referred to in Articles 109 and 110, shall be transferred to the receiving pension fund and to the persons covered by the merging pension fund and the pension and other benefits The beneficiaries become members of the host pension fund and the recipients of the pension and other benefits at the time of the merger. At the same time, an employer belonging to the merging pension fund will become an employer of the receiving pension fund.

§ 107 (17.11.2000/942)

In addition to the provisions of Article 100 (5), the distribution agreement shall include:

(1) a statement of the distribution of the distributive pension fund for the distribution of assets and liabilities to each pension fund participating in the distribution;

(2) an explanation of the circumstances which may be relevant for the assessment of any assets that are to be retained and distributed to the receiving pension fund; and

(3) a statement that the pension evictions provided for in Chapter 6 and the solvency requirements laid down in Chapter 6 are fulfilled following the division.

In the event of a distribution of funds which are not distributed in the distribution agreement, they shall form part of the distributed pension fund and the receiving pension fund or receiving pension contributions in proportion to their pension contributions.

The distributed pension fund and the receiving pension fund or the receiving pension fund shall be responsible for the debt of the pension fund which is distributed jointly and which is not divided in the distribution contract and which is born before the implementation of the distribution is: Registered. However, the total amount of liability of the pension fund shall not exceed the value of the net assets that are or shall be transferred to it.

ARTICLE 108 (19.6.1997)

If the pension fund owns all the shares in the company, the pension fund and the company's governments or, when the pension fund has a board of directors, the Board of Directors and the Board of Directors agree to merge the company into the pension fund. Articles 8 to 11, Article 12, second sentence of Article 14 (1) and Article 18 of the Merger Regulation shall apply mutatis mutandis to the merger, except in the case of mergers of a subsidiary company, except in the case of mergers and acquisitions. The article provides otherwise. In addition, the pension fund shall make a notification of the draft terms of merger to the relevant department as significant in the register of pensions.

Within two months of the adoption of the draft terms of merger by the pension fund and the limited company, they shall seek the agreement of the Ministry for the merger and confirmation of any change to the statutes of the Foundation. The application shall be accompanied by an explanation of the registrations referred to in paragraph 1. Where applicable, the application for an authorisation by the Ministry shall be complied with, as provided for in Article 102 (2) and (4).

In accordance with Article 13 of Chapter 14 of Chapter 14 of the Companies Act, the pension fund and the limited liability company have to apply for the approval of the Government of the Patent and Registration Act. The application shall be submitted within four months of the date of approval by the Ministry of the consent referred to in paragraph 2. The application shall be accompanied by a statement of the approval of the consent referred to in paragraph 2 to the register of pension funds. The Patents and Registration Board shall immediately inform the Ministry of the decision to grant or refuse the authorisation. The Ministry shall issue or refuse to grant an authorisation in the register of pension funds.

The pension fund and the limited liability company shall disclose the merger as significant in accordance with Article 16 of Chapter 14 of the Commercial Register of the Patents and Registration Act, or the merger shall lapse. The notification shall be accompanied by a report on the identification of the merger in the register of pension funds. The Patents and Registration Board shall immediately inform the Ministry of the registration or refusal of registration.

If the registries referred to in paragraph 3 have not been filed within the prescribed period, or if the patent and registration authorities have rejected the application, the Ministry shall record the lapsing of the merger.

Chapter 12

Obligation to pay damages

ARTICLE 109 (29.1.1999/85)

A member of the Board of Directors, a member of the Board of Directors and an agent shall be obliged to pay compensation for the damage he has done intentionally or negligently to the pension fund. The same shall apply to the damage caused by the persons referred to in this Act, the rules of the pension fund or the provisions of the relevant ministry or of the Insurance Supervisory Authority, to the person covered by the pension fund or to the person who has been heard, The pensioner, the employer or any other person.

ARTICLE 110 (29.1.1999/85)

The author of a pension fund, who is not a member of the pension fund and who is not a member of the Board or a member of the Board of Directors or an agent, is obliged to make good the damage he has contributed by contributing to this law, to the rules of the pension fund or to the Any infringement of the provisions of the Ministry or of the Insurance Supervisory Authority, whether intentionally or in the form of gross negligence, has caused the pension fund, the person covered or the person covered by it, the pensioner or any other person or other person.

ARTICLE 111

As regards the settlement of damages and the distribution of liability between two or more liable parties, the (412/74) Chapters 2 and 6 provide.

The provisions of paragraph 1 relating to the settlement of damages shall be complied with by a member of the Board of Directors, a member of the Board of Directors and an agent only if there is a slight negligence on his part.

ARTICLE 112

For the purposes of Articles 109 and 110 of the pension fund, as well as for the statutory auditor, pursuant to Chapter 10, Section 3, of the Court of Auditors, the Board of Directors or the Administrative Board shall decide, pursuant to Chapter 10 of Chapter 10 of the Audit Act. If the act is punishable and the decision is not taken by the government or the Board of Directors, the Ministry of Social Affairs and Health may order the special agent to pursue the action on behalf of the pension fund. The client is paid a fee and a reimbursement of expenses from the pension fund. If the resources of the pension fund are not sufficient to pay the premium and the compensation, the missing part will be paid out of the funds collected from pension funds to compensate for the financial control costs. (18.9.2015/1157)

L to 11/07/2015 Paragraph 1 shall enter into force on 1 January 2016. The previous wording reads:

For the purposes of Articles 109 and 110 of the pension fund, as well as for the statutory auditor, pursuant to Article 44 of the Audit Act, the Board of Directors or the Administrative Board shall decide, on the basis of Article 44 of the Audit Act. If the act is punishable and the decision is not taken by the government or the Board of Directors, the Ministry of Social Affairs and Health may order the special agent to pursue the action on behalf of the pension fund. The client is paid a fee and a reimbursement of expenses from the pension fund. If the resources of the pension fund are not sufficient to pay the premium and the compensation, the missing part will be paid out of the funds collected from pension funds to compensate for the costs of the insurance check.

If the pension fund is declared bankrupt on application for a period of two years from the date on which the Government or the Board of Directors decided not to bring an action, the bankruptcy shall not be subject to the application of this Decision.

ARTICLE 113

In the case of Articles 109 and 110 of the Pension Fund and in the case of an auditor, an action to be taken pursuant to Chapter 10, Section 3 of the Audit Act may not be raised unless the action is based on a criminal offence: (18.9.2015/1157)

L to 11/07/2015 The amended recital enters into force on 1 January 2016. The previous wording reads as follows: in the case of Articles 109 and 110 of the Pension Fund and for the auditor, an action to be taken pursuant to Article 51 of the Audit Act cannot be brought unless the action is based on a criminal offence:

(1) three years after the end of the financial year in which the decision to which the action is based, or a measure taken, was taken against a member of the Board of Directors, a member or agent of the Board of Directors;

(2) against an auditor three years after the audit report, opinion or certificate on which the action is based was presented at a meeting of the Board of Directors or the Management Board; and

(3) against a constituent who is not employed in the pension fund and who is not a member of the Board of Directors or a member of the Board of Directors or an agent, two years after the decision or measure on which the action is based.

If the time limit for the lodging of an action for the pension fund is exhausted, the action referred to in Article 112 (2) cannot be brought before the month after the month has elapsed since the bankruptcy was carried out.

Chapter 13

Co-pension funds

ARTICLE 114

Unless otherwise provided for in this Chapter, the provisions of the other chapters of this Act shall apply to the common pension fund.

ARTICLE 115

The common pension fund may establish:

(1) the employer and the pension fund set up by the employer in accordance with this law or the pension fund established under this law;

(2) Finnish employers belonging to a group within the meaning of Article 3 of Chapter 1 of the Companies Act; or (19.6.1997)

3) other than the employer referred to in paragraph 2 and the employer or controlled employers controlled by it.

In addition, a common pension fund may be set up by two or more employers, provided that:

(1) a joint owner who owns at least 50 % of each employer's employer or owner has that equivalent power; or

(2) the existence of an economic or operational relationship with each other in such a way that the establishment of a common pension fund can be considered appropriate.

Notwithstanding the provisions of paragraphs 1 and 2, one employer may set up a joint pension fund when it may be considered likely that more employers will later be included in the pension fund. If, within five years of the adoption of the rules, the pension fund has not been accompanied by another employer, the pension fund shall, without delay, take measures to change the rules of the pension fund into the rules of the pension fund of one employer.

The pension fund of one employer may be converted into a collective pension fund if it meets the conditions set out in paragraphs 1 or 2. The collective pension fund may be converted into a pension fund for one employer if only one employer remains in the pension fund.

ARTICLE 116 (20/04/2013)

In addition to the provisions of Article 9, the rules of the single pension fund shall state:

(1) whether the pension fund is based on an employer-specific or guaranteed scheme within the meaning of Article 117;

2) how contributions are to be made if the pension fund's accounts are kept in accordance with the guaranteed system;

(3) how to record the pension liability in the accounting records of additional voluntary benefits in respect of a person covered by an activity which has been employed by several employers;

(4) when the employer must resign or be separated from the pension fund and the obligations of the outgoing or separated employer towards the pension fund, and in particular the employer's obligation to supplement the solvency capital in Article 88 (6); In the cases referred to;

(4a) an employer's obligation to supplement the solvency capital in the situation referred to in Article 100a (2);

(5) how other employers are responsible for the solvency capital obligations of the employer which is different or separated, if the outgoing or separated employer is insolvent; and

6) how the contribution of employers to the overstate and the excess referred to in Article 45 shall be calculated in accordance with the provisions of the bending system and the transfer of overt or excess between compartments if they are different employers. (20,2015/322)

L to 22/2015 Paragraph 6 shall enter into force on 1 January 2017. The previous wording reads:

6) how the contribution of employers to the overwear referred to in Article 45 shall be calculated in accordance with the following compartment and how the overate will be transferred between compartments if different employers are involved.

ARTICLE 117

The pension fund performing an activity in accordance with the Pensions Act may maintain its accounts in respect of this activity, either in accordance with the beneficiary or the employer-specific scheme. As regards voluntary supplementary pensions and other benefits, the joint pension fund shall keep its accounts at the employer's level, unless the Ministry of Social Affairs and Health has authorised the pension fund to comply with the accounts. The system is guaranteed.

In the case of an employer-specific system, the records of the pension fund shall be drawn up in such a way as to determine separately for each of the employers in the pension fund the items ending in the profit and loss account and the balance sheet. The money provided by the employer to the pension fund shall be used as a cover for the employer's pension liability.

The contribution to the pension fund in a balanced system shall be distributed to each employer in the manner prescribed by the pension rules. The employer's pension liability is covered by a proportional share of the pension fund.

ARTICLE 118

Article 5 (3) provides for the maximum amount of ownership of the shares of the employer's company, in its bookkeeping arrangements, in addition to the employer-specific scheme, in addition to the individual employer.

ARTICLE 119 (20/04/2013)

Articles 46 and 47 of the provisions of Articles 46 and 47 on the coverage of the pension liability shall be applied by the employer to a collective pension fund which, in its accounting system, complies with the employer's system.

Articles 48b and 48c provide for the Minimum Capital Requirement, the Solvency Capital and the transfer to the supplementary insurer, in accordance with the employer-specific accounting system in accordance with the employer's accounting system. Article 48d provides for financial supervision plans, regardless of the accounting system, irrespective of the pension fund.

ARTICLE 120 (30.12.1997/1)

Article 6 (3) provides for the transfer of an overcharge or a crossing or part of a part A or B, in the form of a collective pension fund at the level of the employer. If, however, the common pension fund complies with the accounting system, overt or excess, or part of the accounting system guaranteed for his or B compartments, the latter shall be transferred to the employers as laid down in the pension rules. (20,2015/322)

L to 22/2015 Paragraph 1 shall enter into force on 1 January 2017. The previous wording reads:

Article 6 (3) provides for the transfer of an overcharge, or part of it, from A or B, to be applied in the Joint Pensions Office per employer. However, if the collective pension fund complies with the accounting system guaranteed for the A or B division, the overt or part thereof shall be transferred to the employers as laid down in the rules of the pension fund.

For the purposes of Article 45 (4) and (5), the return of funds to the employer for the return of funds to the employer shall be subject to an employer-specific pension scheme in accordance with the employer's accounting system. In the Joint Pensions Act, which is equivalent to the accounting system, the funds shall be returned to employers as laid down in the rules of the pension fund.

If the same employers are not part of the AB Joint Pensions Foundation, both A and B, the rules of the pension fund shall determine how to transfer the excess or the excess from one department to another. The adoption of this amendment means that employers of the pension fund will give their consent to the change in the rules. (20,2015/322)

L to 22/2015 (3) will enter into force on 1 January 2017. The previous wording reads:

If the same employers do not belong to the AB Joint Pensions Foundation, both A and B, the rules of the pension fund shall determine how the overate is transferred from one department to another. The adoption of this amendment means that employers of the pension fund will give their consent to the change in the rules.

The Ministry of Social Affairs and Health provides more detailed provisions for the application of this Article.

ARTICLE 121 (20,2015/322)

If, in accordance with Articles 46 and 47 of the Financial Statements and Articles 46 and 47 of the AB Joint Pension Fund, or in accordance with Articles 46 and 47 of an AB joint pension fund or in accordance with Articles 46 and 47 of the The amount of the employer's pension and other liabilities in excess of the amount of the employer's pension and the amount of other liabilities may be transferred, subject to the agreement of the employer, to the pension liability of another employer in the pension fund. The employer must not be deprived of any responsibility as a result of the transfer.

If the assets of the B-co-pension fund or of Part B of the AB Joint Pensions Foundation are estimated to exceed the total amount of the pension and other liabilities of the employer in question in the context of the financial statements, the amounts corresponding to the difference shall be With the agreement of the employer, transfer to the funds of another employer in the pension fund. The employer must not be deprived of any responsibility as a result of the transfer. In addition, the contribution of the transferring employer to the capital adequacy capital of the pension fund exceeds the double-level of the solvency limit after the transfer.

L to 22/2015 Article 121 enters into force on 1 January 2017. The previous wording reads:

ARTICLE 121 (20/04/2013)

Where, in accordance with Articles 46 and 47, the amount of the exposure and the total amount of the funds under the provisions of Article 46 and of the provisions adopted pursuant to Article 46 and the provisions adopted pursuant to it are assessed in the context of the In the case of an employer's pension liability and other liabilities, the assets corresponding to the difference may be transferred, subject to the employer's agreement, to the pension liability of another employer in the pension fund. The employer must not be deprived of any responsibility as a result of the transfer.

The transfer of funds from the employer to another B-co-retirement fund and part B of the AB Joint Pension Fund requires that the transfer employer's share of the solvency capital of the pension fund exceeds the amount of the solvency limit after the transfer.

ARTICLE 122

The Ministry of Social Affairs and Health provides more detailed provisions on how each employer's share of the security referred to in Article 48 is calculated.

ARTICLE 123

If the employer is divided into several employers, the pension liability and the corresponding funds will be distributed by the employer and the new employers born in the event of distribution, with the agreement of the Ministry of Social Affairs and Health. The request for consent of the Ministry shall be submitted in the context of an application for an amendment to the rules on pension provision relating to the above measure.

Paragraph 2 has been repealed by L 29.1.1999/85 .

ARTICLE 124

Article 78 (1) (3), which provides for the discharge of the pension fund, shall apply to the collective pension fund where all employers of the pension fund concerned cease to operate within which the persons covered by the pension fund are active.

ARTICLE 125

Where the employer is different from or separated from the collective pension fund, the pension liability of the employer concerned and the assets covered by it shall be transferred to another pension fund, the pension fund or the insurance company, in accordance with the provisions of Chapter 11 mutatis mutandis. In the first place, the resources to be donated should include investments related to the activities of the employer, unless otherwise agreed. If the contract for the transfer of insurance is not settled, the other funds shall be transferred in cash. The same applies to the employer who ceases its activities in which the persons covered by the pension fund operate, unless the Insurance Supervisory Authority has given the consent provided for in Article 78 (3) for the continuation of the activity of the pension fund. For the employer concerned. The UCITS may also, with the agreement of the Insurance Supervisory Authority, split the winding-up proceedings by giving up their insurance altogether or to a pension fund or a set-up for an employer or some employers. To the pension fund. Articles 100 and 107 provide for the distribution of the pension fund, including, where applicable, the distribution of the common pension fund. (6.6.2003/421)

When the liability of the pension fund is waived, as referred to in paragraph 1, or when the pension fund is unloaded, the funds covered by the pension liability of each employer shall, in the case of the employer concerned, guarantee that the employer has already started and, according to the rules laid down by the pension fund, Supplementary pensions and other benefits which are based on an insurance relationship between a receiving pension fund, a pension fund or an insurer, or a pension corresponding to the amount of the pension. And other benefits.

Chapter 13a (19,2006/391)

Cross-border activities

Article 125a (19,2006/391)

The provisions of Articles 125b to 125j of this Chapter shall apply to the EEA supplementary pension fund in another EEA State other than Finland.

The AEA supplementary pension institution shall have the right to carry out additional pension activities in Finland, as provided for in Article 157 a (2) of the insurance fund.

Article 125b (19,2006/391)

The EEA supplementary pension fund, which is intended to manage the supplementary pensions and other benefits of the other enterprises located in the territory of the EEA State, must be sought by the Insurance Supervisory Agency before the start of cross-border activity.

The EEA supplementary pension fund shall, in the context of the application for authorisation, communicate the following information to the Insurance Supervisory Agency:

1) the name of the undertaking whose supplementary pension scheme is to be managed by the EEA supplementary pension fund;

(2) the EEA State whose social and labour law provisions on occupational retirement provision apply to the relationship between the undertaking and the insured person referred to in paragraph 1; and

3) a report on the main features of the pension scheme of the future company to be managed by the EEA pension fund.

Where appropriate, the Insurance Supervisory Authority shall provide for more detailed provisions on the information to be provided in the context of the application for authorisation.

Financial supervision shall immediately inform the European Insurance and Occupational Pensions Authority of the authorisation referred to in paragraph 1. (12/01/1249)

Article 125c (19,2006/391)

If the Insurance Supervisory Authority has no reason to suspect that the administrative structure or financial status of the EEA supplementary pension fund or the reputation or professional competence and experience of the directors of the institution is not compatible with the proposed additional pension activity, Within three months of receiving all the information referred to in Article 125b (2), the Insurance Supervisory Authority shall transmit that information to the competent authority of the State referred to in Article 125b (2) (2) and shall inform the To the EEA Supplementary Pensions Foundation.

Article 125d (19,2006/391)

The Insurance Supervisory Authority shall inform the EEA supplementary pension fund of the provisions on social and labour law requirements and on investment in occupational pensions, according to which another EEA State is situated The supplementary pension scheme for the company must be managed. In addition, the Insurance Supervisory Authority shall inform the EEA supplementary pension fund of the provisions to be applied in respect of persons covered by Article 125b (2) (2) in respect of persons covered and free of charge.

An EEA supplementary pension fund in Finland may commence treatment of supplementary pension schemes in another EEA State where the EEA supplementary pension fund has received information from the Insurance Supervisory Board on the conditions referred to in paragraph 1, however: No later than two months after the receipt by the competent authority of the State referred to in Article 125b (2) (2) of the information referred to in Article 125c from the Insurance Office.

Prior to the operation of the EEA supplementary pension fund, the Insurance Supervisory Agency shall enter the EEA supplementary pension fund in the pension register. The pension fund register shall also mention the EEA States where the EEA supplementary pension fund operates.

Article 125e (19,2006/391)

The EEA supplementary pension fund shall comply with the social and labour law applicable in the State referred to in Article 125b (2) (2). In addition, at the request of the competent authorities of the State referred to in Article 125b (2), the EEA supplementary pension fund shall apply the provisions on investment in that State in respect of the funds corresponding to: Activities in that State. The EEA supplementary pension fund shall also comply with the rules of communication to be followed in that State in respect of persons covered by their activities and free books belonging to the EEA supplementary pension fund in that State. The pension scheme.

The Insurance Supervisory Authority shall inform the EEA supplementary pension fund of any significant change in the provisions referred to in paragraph 1 where they may affect the management of the supplementary pension scheme of an undertaking located in another EEA State.

Article 125f (19,2006/391)

The A-pension fund may be converted into an EEA supplementary pension fund. Articles 125b to 125d shall apply to the application and to the commencement of cross-border activities.

Article 125g (19,2006/391)

The EEA supplementary pension fund shall cover all pension liabilities related to the supplementary pension activities of the EEA States other than Finland.

Article 125h (19,2006/391)

The EEA supplementary pension fund shall keep the assets and potential liabilities and income and expenses related to cross-border activities separately from the corresponding items related to the activities in Finland.

If the EEA supplementary pension fund manages supplementary pension schemes in the territory of several Member States, it shall keep the resources of the supplementary pension schemes managed in different EEA States separately from each other if the national investment of one of the Member States concerned is Requirements so require.

Article 125i (19,2006/391)

The EEA supplementary pension fund rules shall mention the EEA States in which the EEA supplementary pension fund operates.

In addition, the rules of the EEA supplementary pension fund shall state how the assets of the EEA supplementary pension fund will be partitioned before the distribution of assets under Article 88 (3) between insurance activities and other insurance activities for cross-border activities.

Article 125j (19,2006/391)

The Insurance Supervisory Authority may restrict or prohibit the operation of the EEA supplementary pension fund in Finland if the EEA supplementary pension fund does not comply with the social and economic conditions of the State referred to in Article 125b (2) (2). Labour law.

Chapter 14

Outstanding provisions

ARTICLE 126

Notwithstanding the provisions of the Court of Justice in the case of civil proceedings, the claim for compensation referred to in Article 112 shall be brought by the district court of domicile of the pension fund. The same court can also deal with an offence-based claim.

ARTICLE 127

The summons or any other service shall be deemed to have been transmitted to the pension fund for information to a member of the Government or any other person who, according to Article 26, is entitled, alone or in combination with another, to write the name of the pension fund.

ARTICLE 128

The rules of the pension fund may include an order under which an action for damages in accordance with Chapter 12, on the one hand, for a pension fund on the one hand, and on the other hand, by the Government or the Management Board, the Board of Directors or a member of the Board of Directors, Between the auditor, the person covered or the person concerned or the employer, shall be determined by arbitrators. Such a provision shall have the same effect as the arbitration agreement.

ARTICLE 129

Every

(1) do not, in breach of the provisions of Article 78 (1), be authorised to carry out insurance activities under this law; or

2) operates in breach of the provisions of Article 26 (8) of the Financial Supervision Act,

Shall be condemned, unless the act is minor, On unauthorised pursuit of pension activities Fine or imprisonment for a period not exceeding one year. (19/12/2015)

ARTICLE 130 (30.12.2004)

Every

(1) in breach of the provisions of this Act concerning the adoption of the financial statements, the activity report or the audit report or the provision of a final statement on the liquidation of the pension fund; or

(2) In breach of the prohibition laid down by Article 69 of the Insurance Supervisory Authority, property held under the control of the pension fund is disclosed or placed under the control of the pension fund,

Shall be condemned, if the act is not minor or otherwise provided for by law, For a pension of a pension Fine.

ARTICLE 131

Every

(1) defrauding the funds of the pension fund in contravention of the provisions of this Act or the rules of the pension fund;

(2) in the case referred to in Article 4 (4), do not apply for authorisation from the Ministry of Social Affairs and Health; or

(3) fails to submit a notification or other information to the Authority under this law;

Shall be condemned, if the act is not minor or otherwise provided for by law, On the violation of the pension Fine.

ARTICLE 132 (17.3.2000)

Each pension fund or its service provider, or as a member or alternate member of such an institution, or in the service of an insurance committee or an equivalent institution, Or as a member or as an expert on the basis of a mandate or in accordance with Articles 132b or 132c, the pension fund, the beneficiary of the pension fund, the beneficiary or any other economic status or trade or trade secret, or A person's health status or other personal circumstances; Shall not be disclosed to a third party unless the person who is bound by the obligation of professional secrecy has consented to the disclosure of the information or unless otherwise provided for by law.

The obligation of professional secrecy to be carried out by the Ministry of Social Affairs and Health, or by the Insurance Supervisory Board, is governed by the law of the authorities (18/09/1999) .

§ 132a (17.3.2000)

The penalty for breach of the obligation of professional secrecy laid down in Article 132 is punishable under criminal law. (39/1889) 1 or 2, if the act is not punishable Article 5 of Chapter 40 of the Penal Code Or, unless otherwise provided for in the rest of the law, a heavier penalty.

§ 132b (19/12/2015)

In addition, the Ministry of Social Affairs and Health has the right to disclose information covered by the obligation of professional secrecy:

(1) the prosecutor and pre-trial authority for the purpose of preventing and clarifying the offence;

2) Financial supervision.

Article 132c (17.3.2000)

Notwithstanding Article 132, the pension fund shall have the right to disclose information covered by the obligation of professional secrecy:

(1) the insurance company for the organisation of reinsurance;

(2) the service provider of the pension fund or the person who carries out the work of the pension fund on the basis of a mandate;

(3) for crimes committed against the pension fund and from the benefits received from it to another insurance institution, where this is necessary to prevent crime against insurance institutions, and where the Data Protection Board has provided information on: Personal Data Act (523/1999) Article 43 The authorisation referred to;

(4), with the permission of the Ministry of Social Affairs and Health, for historical or scientific research or for statistical purposes, where it is clear that the disclosure of information is not an infringement of the interests protected by the obligation of professional secrecy; the authorisation may be given for a fixed period and It shall be accompanied by the provisions necessary for the protection of the public and private interests; the authorisation may be withdrawn, when due to be considered; and

(5) the Finnish prosecutor and pre-trial authority in order to prevent and investigate the offence, and to the authorities referred to in Article 132 (b) (1); however, information on the state of health may only be disclosed to the prosecutor and pre-trial authority; The prevention, detection and prosecution of fraud against the insurance or pension institution.

In the cases referred to in paragraph 1, the pension fund may only disclose information necessary for the performance of the tasks referred to in that paragraph.

The Ministry of Social Affairs and Health may, where appropriate, adopt provisions on the application of paragraphs 1 and 2 of this Article.

ARTICLE 133 (19/12/2015)

§ 133 has been repealed by L 19.12.2008 .

ARTICLE 134 (29.1.1999/85)

Paragraph 1 has been repealed by L 19.12.2008 .

The annual accounts and operational reports of the Ministry of Social Affairs and Health and the Insurance Supervisory Authority have every right to be informed. (30.12.2004)

ARTICLE 135

For the purpose of drawing up technical calculations and studies, the pension fund shall be an insurance mathematician. The actuarial eligibility criteria are determined in accordance with Chapter 18, Section 8 of the Insurance Companies Act. The functions of an insurance mathematician shall apply mutatis mutandis to the provisions of the Regulation on the actuarial Articles 1 and 2 of Regulation (464/95) Provides.

The admission and resignation of an insurance mathematician shall be notified to the Insurance Supervisory Board. The relevant ministry may lay down provisions on the application of this Article. (29.1.1999/85)

ARTICLE 136 (29.1.1999/85)

The insurance mathematician of the pension fund shall carry out a technical examination of the state of the pension fund at least every two years and, if deemed necessary, by the Insurance Supervisory Authority. If necessary, the Insurance Supervisory Authority will provide guidance on the preparation of the study.

ARTICLE 137

More detailed provisions on the implementation of this law will be adopted by the Regulation.

Article 137a (29.1.1999/85)

What is laid down in this Act concerning the Ministry of Social Affairs and Health, or the Ministry concerned, concerning the Insurance Supervisory Authority (1999) After entry into force of the Insurance Supervisory Agency, subject to paragraph 2.

Financial supervision shall not apply to the provisions of Article 4 (3), Article 6 (6), Article 36 (1), Article 37 (1), Article 41 (1) (2), Article 41a (1), (2), (4) and (5), Article 42, Article 43 (2) and (3), Article 45 (4) to (6), Article 46 (3) and (4), Article 48 (1) and (7), Article 48 (9), Article 55 (3), Article 65 (2), Article 88 (5) and (6), Articles 109 and 110, 120 (4), 122, 132 (2), 132 (2), 132 (c) § (1) (4) and (3), Article 134, Article 135 (2) and Article 147 (2) provide for social and The Ministry of Health or the Ministry in question. (19/12/2015)

Chapter 15

Entry and transitional provisions

ARTICLE 138

This Act, hereinafter referred to as the new law, shall enter into force on 1 January 1996. However, Articles 45 (4), 46, 47, 120 and 147 of the Law shall enter into force on 31 December 1995.

The new Act repeals the Act of Law of 2 December 1955 on the Pensions Act of 2 December 1955. (13,51) , hereinafter referred to as the old law, with subsequent amendments.

Before the entry into force of the new law, measures may be taken to implement the law.

ARTICLE 139

If the rules of the pension fund registered before the entry into force of the new law contain provisions contrary to the new law, the provisions of the new law must be respected.

If, under the new law, the rules of the pension fund registered before the entry into force of the new law are inadequate or contain provisions contrary to the new law, the rules of the pension fund shall be brought into line with the new law. Within two years of the entry into force of this Act, the amendments to the rules shall be submitted by the Ministry of Social Affairs and Health.

ARTICLE 140

A pension fund notified before the entry into force of the new law and a change in the rules applied for prior to the entry into force of the new law may be registered in accordance with the provisions of the old law.

ARTICLE 141

After the adoption of the new law, the pension fund may, notwithstanding the provisions of Article 139, take a decision to amend the rules in accordance with the new law. The decision will be taken in accordance with the old law. The application for an amendment to the rule of law may be made and the decision given by the Ministry of Social Affairs and Health to register before the entry into force of the new law is marked that the rules laid down shall enter into force at the earliest Entry into force.

ARTICLE 142

Notwithstanding the provisions of Article 3 of the minimum number of persons covered by the pension fund before the entry into force of the new law, the 'A' pension fund may continue to operate if it continues to practise under the old law Insurance activities. If the insurance activities carried out by the pension fund are extended from the date of entry into force of the new law, the pension fund shall be extended, the pension fund shall comply with Article 3 (1) (1), , including when the change of rules resulting from the expansion of insurance activity has been adopted at a meeting of the board of directors or the board of directors of the pension fund.

Notwithstanding Article 3, the minimum number of persons covered by a pension fund may, before 1 July 1976, be able to continue their activities if they fulfil the employees' pension scheme. Of 30 June 1976 concerning the minimum number of persons covered by the activity of a pension fund operating in accordance with the scheme. If the number of persons covered by the B or AB pension fund referred to in this paragraph falls below the minimum number of workers laid down in the Pensions Act, as the law was in force on 30 June 1976, The pension fund shall be subject to the minimum number of provisions in force during the period laid down in Article 78 (1) (1).

If the pension fund does not meet the requirements of paragraph 1 or 2, it shall be liquidated and landed.

ARTICLE 143

Notwithstanding the provisions of Article 4 (4), the pension fund may continue to own the shares or units which it acquired before the entry into force of the new law. Where the number of shares or units owned by the pension fund or the imposition of a law exceeds the maximum amount provided for by the new law, the relative share of the pension fund in the shares, shares or shares of the undertaking to be held, or Shall not increase from the amount entered into force at the time of entry into force of the new law. If, after the entry into force of the new law, the contribution of the pension fund is reduced, but still exceeds the statutory ceiling, the proportional share of the pension fund shall not be increased from such a reduced amount.

The provisions of Article 5 (3) of the new law as referred to in Article 5 (3) of the new Law shall also apply to the provisions of Article 5 (3) of the new law, as provided for in Article 5 (3) of the new law. The shares of the employer.

ARTICLE 144

Notwithstanding the provisions of Article 5 (2), the guarantee shall not be required for loans provided by the A pension fund or by the AB pension fund before 1 April 1991 to the employer.

§ 145

The pension fund shall meet the requirements of Article 46 as regards the pension liability of 31 December 1993, within 10 years of the entry into force of the new law, with at least three twelfths completed at the end of the first calendar year, At the end of the calendar year, at least four twelfths and, respectively, at the end of the calendar years following the end of the calendar years after 31 December 1993, the number of twelfths in respect of the coverage requirement. The Ministry of Social Affairs and Health may, for special reasons, grant derogations from the provisions of this paragraph.

If the pension fund is registered before 1995, the guarantee referred to in Article 48 shall be reduced to the amount referred to in Article 48 (2) within two years from the date of entry into force of the new law, so that the value of the security is in the first calendar year At least three quarters of the minimum amount of the security and at the end of the second year at least the minimum amount of the security. If the pension fund is registered during 1995, that guarantee shall be chargeable within three years from the date of entry into force of the new law in such a way that, at the end of the first calendar year, the value of the security shall be at least two-quarters, the second year At least three quarters of the minimum amount of the security and at the end of the third year at least the minimum amount of the security. However, the value of the security shall always be at least 500,000 marks.

ARTICLE 146

Before the entry into force of the new law, the pension fund shall comply with the requirements of Article 47 with regard to the pensions of retired persons and to the pensions and other benefits to which they are entitled and to the other benefits in such a way that four years After the entry into force of the new law, 75 % of the pension liabilities arising from these pensions are covered. The Foundation shall fulfil the above mentioned coverage requirement, so that at the end of the first calendar year the entry into force of the new law must be covered by at least six ninth, at the end of the second calendar year, at least seven of the ninth and At the end of the third calendar year, eight out of nine of the 75 % coverage requirement.

Where, in accordance with paragraph 1, 75 % of the pension liability arising from the pension started is covered, the pension fund shall cover the remaining 25 % of this pension liability within five years of the end of the period referred to in paragraph 1, That at the end of the first calendar year, at least one fifth of the liability has been covered, at the end of the second calendar year at least two fifths and the number of fifths indicated by the end of the following calendar years; Of the coverage requirement.

Before the entry into force of the new law, a pension fund subject to the requirements of Article 47 shall comply with the requirements of Article 47 on pensions and other benefits in respect of pensions and other benefits to the persons covered by the scheme and their beneficiaries for 15 years After the entry into force of the new law, in such a way that at the end of the first calendar year the entry into force of the new law has been covered by at least one fifths of the pension liability, at the end of the second calendar year at least two fifths and respectively The following calendar years after the entry into force of the law The number of fifteenth of the years indicated by the coverage requirement.

Article 47 (4), which provides for the listing of the roof, shall also apply in the case of parts of the pension liability provided for in paragraphs 1 to 3.

The Ministry of Social Affairs and Health may, for special reasons, grant derogations from the provisions of this Article.

ARTICLE 147

If, in the case of pension cover other than those of the employee, the pension liability calculated in accordance with this law in accordance with this law shall be lower than the pension liability in accordance with the annual accounts drawn up for that date In accordance with the financial statements, the assets are used for the purpose of publishing pension cover in accordance with the pension law of the non-employed person. If these funds are left five years after the date of entry into force of the law, these funds will be used to pay for the pension cover under the employees' pension law or to return them to the employer.

The Ministry of Social Affairs and Health provides more detailed provisions for the application of this Article.

ARTICLE 148

The issue of the termination of the pension fund must be addressed and resolved and reported under the old law if the public challenge has been claimed before the entry into force of the new law.

The issue of the transfer of insurance activities must be dealt with and resolved under the old law, if requested by the Ministry of Social Affairs and Health prior to the entry into force of the new law.

ARTICLE 149

Before the entry into force of the new law, the composition of the elected government or the Board of Directors shall be adapted to the new law within two years of the entry into force of the law. The register shall be entered in the register of pension funds within three months of the adoption by the Ministry of Social Affairs and Health of the rules laid down in the new law of the pension fund. If the rules in force in the pension fund are in accordance with the provisions of the new law, the agent shall be entered in the register within two years and six months after the entry into force of the law.

Prior to the entry into force of the new law, either a member of the Board or a member of the Board of Directors, an auditor or a liquidator may, in spite of the fact that under the new law it is not allowed to operate in that capacity, remain in office until a new choice is made, Not more than two years after the entry into force of the new law. The above also applies mutatis mutandis to the author of the Foundation, designated before the entry into force of the new law.

ARTICLE 150

The financial statements, drawn up before the entry into force of the new law, shall be governed by the old law.

ARTICLE 151

The amounts laid down in Chapter 7 of the new law correspond to the index point for 1995, as set out in Article 63.

THEY 187/95 , THEY 188/95 , StVM 28/95, EV 177/95

Entry into force and application of amending acts:

ON 30.12.1996/1297:

This Act shall enter into force on 1 January 1997.

THEY 241/1996 , 45/1996, StVM 42/1996, EV 248/1996

19 JUNE 1997/616:

This Act shall enter into force on 1 September 1997.

THEY 18/1997 , TaVM 16/1997, EV 84/1997

ON 30.12.1997/1323:

This Act shall enter into force on 1 January 1998. However, Articles 43 and 48a, 116 (1) (6) and 120 shall enter into force on 31 December 1997. Article 45 of the Law on the return of the excess to the employer as well as Article 48c of the Law on the existence of an investment surplus and contributions to the pension fund within the meaning of Article 48c (2) to (4) However, as from 31 December 1997, the Ministry of Social Affairs and Health decides.

Notwithstanding the provisions of Article 48b of this Act, the solvency limit and the minimum operating capital of B and AB, registered before the entry into force of the Act, shall be one eighth in 1998 and two in 1999. The eighth part of the solvency limit and the minimum operating capital provided for in Article 48b. Conversely, in the following years, the solvency limit and the minimum operating capital are the number of eight parts of the solvency limit and the minimum operating capital laid down in Article 48b of the preceding calendar years.

However, notwithstanding the provisions of Article 48c (2), the limit for the double amount of the crd is, in 1998, half of its full amount and, in 1999, three quarters of its total amount.

Notwithstanding the provisions of Articles 6, 45, 88, 100 and 120 of this Act concerning the transfer and return of operating capital, the Ministry of Social Affairs and Health must comply with the provisions of the Ministry of Social Affairs and Health.

However, before the entry into force of this Act, applications for the submission of insurance activities pending at the Ministry of Social Affairs and Health shall continue to be subject to the provisions in force at the time of entry into force of this Act.

THEY 222/1997 , StVM 36/1997, EV 242/1997

20.3.1998/99:

This Act shall enter into force on 1 April 1998.

THEY 228/1997 , StVM 3/1998, EV 3/1998

30.4.1998/308:

This Act shall enter into force on 1 October 1998.

THEY 243/1997 , TaVM 2/1998, EV 19/1998

24.7.1998/5821:

This Act shall enter into force on 1 January 1999.

THEY 6/1997 , 117/1997 , LaVM 3/1998, SuVM 2/1998, EV 60/1998

23.12.19981135:

This Act shall enter into force on 31 December 1998. Articles 37, 38, 41 and 4b shall be valid until 31 March 1999.

Notwithstanding the provisions of Section 2 of Chapter 9 of the Accounting Act, the accounting law and the provisions of this Act shall apply for the first time to the accounts of the pension fund for the financial year starting on or after 1 January 2000.

However, the pension fund may apply the provisions referred to in Article 2 (2) for a financial year that is passing or starts after the entry into force of this Act.

THEY 234/1998 , TaVM 32/1998, EV 205/1998

ON 30 DECEMBER 1998,

This Act shall enter into force on 1 January 1999. Article 54 is valid until 31 March 1999.

The amounts set out in Chapter 7 of this Act correspond to the index point set out in Article 63 established for 1998.

Notwithstanding Article 48 (2) and (3), Article 54 and Article 55 (2), the amounts expressed in euro may be denominated in the Finnish markka until 31 December 2001. The amounts reported in euros shall be converted into Finnish marks, in accordance with the final exchange rate adopted by the Council of the European Union on the basis of Article 109 (4) of the Treaty establishing the European Community.

THEY 233/1998 , No 31/1998, EV 204/1998

29.1.1999/85:

This Act shall enter into force on 1 April 1999.

The authorisations, orders, instructions and other decisions relating to insurance supervision and control, issued by the Ministry concerned, transferred to the Insurance Supervisory Authority in accordance with Article 137a of the Insurance Supervisory Authority After the date of entry into force, until the Insurance Supervisory Authority decides otherwise.

THEY 163/1998 , TaVM 29/1998, EV 202/1998

17.3.2000:

This Act shall enter into force on 1 April 2000.

THEY 136/1999 , StVM 3/2000, EV 22/2000

17.11.2000/942:

This Act shall enter into force on 1 December 2000.

THEY 95/2000 , TaVM 23/2000, EV 131/2000

5.4.2002/251:

This Act shall enter into force on 1 May 2002.

The measures necessary for the implementation of the law can already be adopted before it enters into force.

THEY 250/2001 , EV 14/2002,

6.6.2003/421:

This Act shall enter into force on 1 July 2003.

In calculating the minimum five-year period laid down in Article 102 (1), no account shall be taken of the receipt of insurance activities which occurred before the law entered into force.

An application for the transfer of an insurance activity in accordance with the pensions law of the worker shall be dealt with and settled in accordance with the provisions in force at the time of entry into force of this Act, where the agreement of the Insurance Supervisory Authority has been requested before the law enters into force. However, at the request of the applicant, the Insurance Supervisory Authority may decide that the application shall be processed and settled in accordance with this law.

THEY 21/2002 , StVM 52/2002 EV 255/2002

13.6.2003/489:

This Act shall enter into force on 1 August 2003.

The obligation laid down in Article 4a of this Act shall be fulfilled no later than three years after the entry into force of this Act.

THEY 200/2002 , No 2/2002, No 267/2002

20.2.2004:

This Act shall enter into force on 1 September 2004.

THEY 153/2003 , LaVM 8/2003, EV 131/2003

ON 30 DECEMBER 2004,

This Act shall enter into force on 31 December 2004.

This law shall apply for the first time to the accounts of the pension fund for the financial year commenting on or after 1 January 2005. The pension fund may apply this law for the financial year in which the law enters into force.

Any increase in value made before the entry into force of this Act may apply to those provisions which were in force when the law entered into force.

THEY 224/2004 , TaVM 31/2004, EV 230/2004, Regulation (EC) No 1606/2002 of the European Parliament and of the Council, OJ L 243, 11.9.2002, p. 1, Directive 2001 /65/ec of the European Parliament and of the Council, OJ L 283, 27.10.2001, p. 28, European Parliament and Council Directive 2003 /51/EC; OJ L 178, 17.7.2003, p. 16

3.6.2005:

This Act shall enter into force on 1 July 2005.

THEY 19/2005 , TaVM 7/2005 EV 46/2005

31.3.2006/25:

This Act shall enter into force on 15 April 2006.

This law shall apply to the transfer and receipt of insurance activities, as well as to the receipt of the liability and the insurance rate for which the contract was concluded on or after 7 October 2005.

Decision of the Insurance Supervisory Authority prior to the entry into force of this Act concerning the granting of consent to the transfer and receipt of an insurance activity or the receipt of the liability and the insurance stock on or after 7 October 2005 Shall be adopted in accordance with the law in force at the date of adoption of the Decision. However, the decision of the Agency shall lapse unless the agreement on the transfer and receipt of the insurance activity or the receipt of the liability and the acceptance of the insurance position is amended to comply with this law within two months of the entry into force of the law.

THEY 158/2005 , StVM 6/2006, EV 23/2006

19.5.2006/391:

This Act shall enter into force on 1 June 2006.

Notwithstanding the provisions of Article 4 (3), the pension fund may maintain, before the entry into force of this Act, loans in accordance with the loan agreements.

Notwithstanding the provisions of Article 5 (3), the 'A' pension fund and the AB pension fund in respect of Section A shall, at the time of entry into force of this Act, maintain the investments made in the employer's undertaking until 23 September 2010. Following the entry into force of this Act, the new loans granted to the employer and before the entry into force of this Act for amendments to loans granted to the employer shall be subject to the provisions of Article 5 (3). However, the provisions of this paragraph shall not apply to the cross-border activities of the EEA supplementary pension fund.

On the basis of Article 47 (3), which has been repealed before the entry into force of this Act, the undertakings given by the Insurance Supervisory Authority to cover pension liabilities shall remain in force as they enter into force.

If the assets and liabilities referred to in Article 47 c-47 (i) and of Article 47 m in respect of the gross amount of the pension liability of the pension fund exceed the maximum limits laid down in that Article, the pension fund shall be by the end of 2005 Ensure the removal of the overrun. The amount of these funds and commitments shall not increase or the proportional share of the total assets and liabilities covered shall rise during the period when the maximum limit is exceeded. If the amount of funds and commitments has fallen, but still exceeds the ceiling, the amount of resources and commitments must not increase from such a reduction.

This Act repeals the Decree of 23 December 1998 on the pension liability of the pension fund (137/1998) And the Regulation of 30 December 1997 on the lots to be read in the operating capital of the pension fund in accordance with the Pensions Act (1326/1997) With their subsequent modifications.

156/2005 , TAVM 3/2006, EV 34/2006, European Parliament and Council Directive 2003 /41/EC (32003L0041); OJ L 235, 23.9.2003, p. 10

8.12.2006/11:

This Act shall enter into force on 1 January 2007.

THEY 79/2006 , StVM 30/2006, EV 155/2006

8.12.2006/112:

This Act shall enter into force on 1 January 2007. Before the entry into force of this Act, measures may be taken to implement the law. (11.3.2011/224)

The pension fund may apply the repealed Article 48a (2) (5) until 31 December 2010. (11.3.2011/224)

The pension fund, which has the guarantee or guarantee referred to in Article 48a (2) (5), which is repealed by that law on 31 December 2010, may apply that loan until 31 December 2012. (11.3.2011/224)

The pension fund may apply the repealed Article 48a (2) (5) until 31 December 2010.

THEY 77/2006 , StVM 31/2006, EV 152/2006

8.12.2006/1127:

This Act shall enter into force on 1 January 2007.

THEY 78/2006 , StVM 32/2006, EV 153/2006

13.4.2007/47:

This Act shall enter into force on 1 July 2007.

THEY 194/2006 , TaVM 33/2006, EV 293/2006

19.12.2008/8:

This Act shall enter into force on 1 January 2009.

THEY 66/2008 , TaVM 20/2008, EV 109/2008

27.3.2009/17:

This Act shall enter into force on 1 April 2009.

However, if the pension fund does not carry out cross-border activities, the provisions of Article 48e of the Law on the own resources required by the pension fund shall not apply until 23 September 2010.

Before the law enters into force, measures may be taken to implement the law.

THEY 152/2008 , StVM 3/2009, EV 8/2009, European Parliament and Council Directive 2003 /41/EC (32003L0041); OJ L 235, 23.9.2003, p. 10-21

14.5.2010/398:

This Act shall enter into force on 1 December 2010.

THEY 102/2009 , LaVM 2/2010, EV 21/2010

11.3.2011/2:

This Act shall enter into force on 31 March 2011.

Before the law enters into force, action can be taken to enforce the law.

THEY 273/2010 , StVM 50/2010, EV 299/2010

11.3.2011/224:

This Act shall enter into force on 31 March 2011.

However, Article 3 (3) shall apply from 1 January 2011.

Before the law enters into force, action can be taken to enforce the law.

THEY 273/2010 , StVM 50/2010, EV 299/2010

9.12.2011/1249:

This Act shall enter into force on 31 December 2011.

THEY 71/2011 , TaVM 4/2011, EV 30/2011, Directive 2010 /78/EU of the European Parliament and of the Council (32010L0078); OJ L 331, 15.12.2010, p. 120-161

20.07.2012/443:

This Act shall enter into force on 1 January 2013.

The other provisions of the law on the capital of the pension fund shall apply to the solvency capital of the pension fund following the entry into force of this Act.

The maximum amount of the lot referred to in Article 48a (2) (5) of the solvency capital of the pension fund may be increased in such a way that the solvency of the pension fund in relation to the average solvency of the occupational pension insurance companies is the same as that of the law when the law enters into force. It was 31 December 2012. The maximum amount raised remains equal to the pension liability used for the calculation of the solvency threshold until 31 December 2017. Thereafter, the increase in the rate of increase shall be reduced annually by a reduction of 0 % on 1 January 2022.

THEY 9/2012 , StVM 4/2012, TaVL 21/2012, EV 47/2012

30.11.2012/671:

This Act shall enter into force on 1 January 2013.

THEY 108/2012 , TaVM 9/2012, EV 98/2012

20.3.2015/8:

This Act shall enter into force on 1 January 2016.

THEY 344/2014 , TaVM 30/2014, EV 304/2014, Directive 2009 /138/EC of the European Parliament and of the Council (32009L0138); OJ L 335, 17.12.2009, p. Directive 2011 /89/EU of the European Parliament and of the Council (32011L0089); OJ L 326, 8.12.2011, p. 113., European Parliament and Council Directive 2014 /51/EU (32014L0051); OJ L 153, 22.5.2014, p. 1.

20.3.2015/322:

This Act shall enter into force on 1 January 2017.

THEY 279/2014 , StVM 46/2014, EV 305/2014

18.09.2015/115:

This Act shall enter into force on 1 January 2016.

THEY 254/2014 , TaVM 34/2014, EV 371/2014