Private Pension Funds Annual Report In The Legislative Provisions

Original Language Title: Privāto pensiju fondu gada pārskata sagatavošanas normatīvie noteikumi

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/135965

Financial and capital market Commission Regulation No. 100 in Riga, 19 May 2006 (pr. Nr. 22, 2. p.)
Private pension funds annual report Regulations Issued pursuant to the financial and capital market Commission Act 7 of the first paragraph of article 1 and paragraph 2 of article 17 and the law "on private pension funds ' article 25, second subparagraph, of the European Parliament and of the Council of 19 July 2002, Regulation (EC) No 1606/2002 on the application of international accounting standards" (5) i. General questions 1. "private pension funds annual report rules" (hereinafter-the rules) are binding on private pension funds (hereinafter pension Foundation), in preparing the annual report and accounts of the sort.
2. the Pension Fund for each year of coverage shall prepare an annual report, which as a single package consisting of: 2.1 the Pension Fund's financial statements, which include: 2.1.1. balance, 2.1.2. profit and loss statement, cash flow statement 2.1.3, 2.1.4. changes in capital and reserves report 2.1.5. Pension Fund Notes to the financial statements;
2.2. pension fund management report;
2.3. notification of pension fund management responsibility;
2.4. the pension plan financial statements, including: 2.4.1. Overview of net assets, net asset movement 2.4.2, 2.4.3. pension plan financial statements;
2.5. the report on the pension plan.
3. If the Pension Fund has several pension plans, the annual report shall include each of the pension plan financial statements and reports for each pension scheme.
4. The financial statements provide a true and fair view of the Pension Fund and the pension plan's financial position, performance and cash flow. Financial statement preparation is carried out on the basis of the international accounting standards Board issued international accounting standards, financial reporting standards and international financial reporting interpretations Committee's interpretations of the standards approved by the European Commission and which has been published in the official journal of the European Union (hereinafter referred to as international financial reporting standards). Information about the European Commission approved international financial reporting standards available in the website www.europa.eu.int/comm/internal_market/accounting/ias_en.htm, as well as the Ministry of Finance of the Republic of Latvia in the website www.fm.gov.lv. In preparing the financial statements, you can also use the international financial reporting standards published in the official journal of the European Union after the balance sheet date but before the approval of the annual report. Information about international financial reporting standards in the course of approval of the European Commission, and the expected publication of the official journal of the European Union is available on the website www.efrag.org.
5. the Pension Fund's balance sheet and income statement items are specified in the rules for layout 19 and 23 points, but the cash flow statement and changes in capital and reserves of the sample report, annex 2 and 3. Sample pension plan financial reporting items layout specified in this provision, paragraph 63 and 66. You can hide some of the items of the financial statements, if they are not essential or not reporting it makes financial reporting more transparent, and create that report items on a different layout, but in any case, the financial statement items recording information should comply with international financial reporting standards.
6. The financial statements are presented in the annex to the explanatory information about the Pension Fund's balance sheet, income statement, cash flow statement, changes in capital and reserves report items and pension plan statement of net assets, net asset movement statement item content as well as reveal other information that materially affected or may significantly affect the pension fund or the pension plan's financial position, performance and cash flows.
7. The annual report of the currency is the monetary unit of the Republic of Latvia. The annual report shall indicate the degree of precision of numbers.
8. explanation of terms used in the regulations is given in annex 1.

II. Reports 9. Pension Fund management report indicates: 9.1. pension fund transactions and financial position;
9.2. information about any important events from the end of the reporting period to the date of approval of the annual report, which is important for pension funds in financial position and performance of the understanding;
9.3. the further development of the Pension Fund, explaining any relevant circumstance and risk.
10. Pension Fund management report shall be signed by the Chairman of the Board of the Pension Fund if the Pension Fund is set up by the Council, and Chairman of the Board. If a pension fund's Board of directors or a member of the Council considers that the annual report is not approved, or raise objections, which he wants to communicate to the general meeting, in particular pension fund management report.
11. Pension Fund Board written notification that its liability for the accuracy of financial statements: the Executive Board 11.1 is obliged according to the existing requirements of the laws and prepare financial statements that clearly and truly reflect the financial position of pension funds at the end of the accounting year, as well as reviewing the annual operating results and cash flow;
11.2. the Board is responsible for the proper keeping of accounts, for the Pension Fund and the preservation of property, as well as fraud and other fraudulent activity;
11.3. do financial statements prepared, consistently using international financial reporting standards;
11.4. or the Pension Fund Board decisions and assumptions about financial reporting have been carefully and wisely.
12. Statement of responsibility of the Management Board of the Pension Fund shall be signed by the Chairman of the Board of the Pension Fund.
13. The report on the pension plan specifies: 13.1. information about retirement plan: 13.1.1. full pension plan's name and a brief description of the pension scheme, 13.1.2. officials responsible for pension plan management and operation. The news also provides for people who, in the year left these positions, management of 13.1.3. name and registered address of the holder of the funds 13.1.4. name and legal address, 13.1.5. the pension plan Committee (Committee), if any, list of collective membership agreement;
13.2. evaluation of the operation of the pension scheme, URt.sk.: 13.2.1. Description of major activities during the reference year and the pension plan rules and their impact on pension plan financial reporting indicators 13.2.2. information about investments, and the investment performance of the pension plan's financial position at the end of the year, the total assets of 13.2.3., pension plan, the net asset value of the pension plan participants, employers and pension plan member contributions cost of pension plan members URu.tml. change in characteristics of indicators, 13.2.4. information about the pension plan administration expenses, 13.2.5. other relevant pension plan information that describes the action, 13.2.6. information about any important events from the end of the year to approve the annual report of the day that are significant in the pension plan's financial position and performance of the understanding;
13.3. the further development of the pension scheme, explaining any relevant circumstance and risk.
14. Pension Plan the management report shall be signed by the officer, in accordance with the pension plan the pension plan is responsible for the management and operation.

III. Annual report submission and publication 15. Pension Fund annual report, a pension fund shareholder meeting statement on the approval of the annual report, the full jury auditor's report, addressed to the management of the Pension Fund of the sworn copy of the auditor's report and the group law in the cases provided for in the report submitted to the dependence on financial and capital market Commission (hereinafter the Commission) the law "on private pension funds '.
16. If the auditor's opinion has sworn with notes (claimed) or sworn auditor refused to give an opinion or provided a negative opinion, then the Pension Fund at least 10 days before the publication of the annual report shall provide the Commission with written proposals to further improve the operation of the Pension Fund.
17. The Pension Fund's annual report and the auditor's report sworn in no later than one month after the approval of the annual report of the general meeting shall be published in at least one daily newspaper, which is distributed throughout the territory of the Republic of Latvia, and placed on the website, if any. If the annual report is published in full, it must be identical to the sworn auditor verified. This annual report shall be published together with the full certified auditor's report on the financial statements. The Pension Fund's obligation is to ensure that the full annual report will be available in the location in which the pension fund management, not later than one month after the approval of the annual report of the shareholders ' meeting.

18. If the annual report is published in full, clearly indicate that it is published in abridged annual report, and indicate where you can look at the full annual report. Publish a short annual report shall be accompanied by a sworn auditor's report on the condensed annual report. Reduced pension fund annual report includes pension fund balance, profit and loss statement and the management report pension funds as well as each pension plan net assets net assets and statement of movements. Published abbreviated financial statements, recording information is presented without a detailed transcript.

IV. Pension Fund balance sheet items 19. Pension Fund model of layout of balance sheet items 19.1. Active 19.1.1 and the requirements That demand to credit institutions 19.1.2. Held for trading financial assets 19.1.2.1. Debt securities and other fixed income securities 19.1.2.2. Shares and other securities with fixed income 19.1.2.3. Derivative financial instruments are classified as 19.1.3. fair value of financial assets with an estimated coverage of profit or loss 19.1.3.1. Debt securities and other fixed income securities 19.1.3.2. Shares and other securities with fixed income
19.1.4. Available-for-sale financial assets 19.1.4.1. Debt securities and other fixed income securities 19.1.4.2. Shares and other securities with fixed income 19.1.5. Held-to-maturity investments 19.1.6. loans and receivables accrued income and 19.1.7. prepaid expenses 19.1.8. assets 19.1.9. Investment property 19.1.10.19.1.11. Intangible assets other assets total assets 19.1.12.19.2 obligations on demand Connection 19.2.1. to credit institutions 19.2.2. Held for trading financial liabilities 19.2.2.1. Debt instruments 19.2.2.2. Derivative financial instruments 19.2.3. Classified as fair value the estimated financial commitments with the presentation of profit and loss statement 19.2.4. Amortized acquisition value assessed financial commitment. Subordinated liabilities 19.2.4.1 19.2.4.2. Creditors 19.2.5. Deferred income and accrued expenses accruals 19.2.7 19.2.6. other liabilities total liabilities 19.2.8.19.3. Capital and reserves share capital 19.3.1.19.3.2. Share premium 19.3.3. own shares () reserve capital and 19.3.4. other reserves 19.3.5. Revaluation reserve 19.3.6. Prior year losses 19.3.7. Profit/loss 19.3.8. Total equity and reserves 19.3.9. Total liabilities and capital and reserves

V. explanatory notes for the Pension Fund's balance sheet items assets 20 20.1. What requirements and on demand to credit institutions this item displays the legitimate means of payment, t.sk. Foreign Exchange, banknotes and coins as, requirements on demand to credit institutions, i.e. the requirements that can be satisfied without prior demand or request deadline is 24 hours or one working day. Other claims against credit institutions presented a balance sheet asset 19.1.3 19.1.4 19.1.2.,.,., or 19.1.5. item. A credit institution within the meaning of this provision corresponds to article 1 of the law of credit institutions 1, point a (a)).
20.2. Held for trading financial assets this item shows the portion of the fair value of financial assets with an estimated coverage of profit or loss, which under international accounting standard 39., are classified as held for trading financial assets, such as debt instruments and equity instruments financial derivatives.
20.3. Classified as fair value financial assets evaluated the presentation of profit and loss statement under this item displays the portion of the fair value of financial assets with an estimated coverage of profit or loss, which under international accounting standard 39., are classified as at fair value financial assets valuated with the presentation of profit and loss statement (in the case of a pension plan net assets statement of movement), such as debt and equity instruments.
20.4. Held-to-maturity investments this item displays the term deposits with credit institutions, are traded on a regulated market, debt securities and other financial investments with a fixed maturity that are classified as held-to-maturity investments.
20.5. loans and receivables show This item not traded on a regulated market of debt securities with fixed maturity, receivables and other claims arising from transactions with customers, t.sk. loans, financial leasing and other financial assets with a fixed term, which shall be classified as loans and receivables.
20.6. Accrued income and prepaid expenses this item displays the income relating to the financial year and for earlier years, but the period for receipt of the balance sheet date are not yet timed, for example, not yet received, but the calculated commissions, rents, interest income, except where, in accordance with international financial reporting standards include the specified financial assets at fair value or amortized acquisition costs.
This item shall also show the expenses incurred up to the end of the financial year but relating to future periods.
This item recording income/expenses consisted only of assets that are not classified in any of the categories of financial instruments.
20.7. Fixed assets this item shows the pension fund owned, t.sk. without purchase leased and financial leasing transactions, i.e. fixed assets obtained tangible assets that pension fund is used to provide services, or for administrative purposes and provides for rent in use for more than one year, such as land, buildings, vehicles, equipment, URu.tml. assets.
Here also display software, which is the electronic equipment or devices are an integral part of the pension fund owned and without purchase of the leased asset reconstruction, improvement or restoration costs, which improved the economic performance of the asset if the asset lease agreement does not provide for the reimbursement of costs and expenses.
This item displays the unfinished construction costs and advance payments for fixed assets referred to in this paragraph.
12.9. Intangible assets this item shows the intangible assets, i.e. assets that do not have material forms, which are kept in the provision of services or for other purposes, if it is expected that the Pension Fund will receive in the future economic benefits that are attributable to those assets, such as the payment of acquired rights, t.sk. concessions, patents, licenses, rights to use the trade mark, the right of rental URu.tml. right, software that is not electronic equipment or devices are an integral part of and other similar in substance to the compensation for assets. Here shall also advance payments for intangible assets.
20.9. Other assets this item shows the assets, of which does not comply with the other assets of the balance sheet items. Here also the display without the purchase of the leased asset reconstruction, improvement or restoration costs, if the asset lease agreement provides for the reimbursement of costs and expenses.
21. the obligation to Respect the request 21.1 to credit institutions this item displays the obligations arising from transactions with credit institutions, t.sk. credit balances on the settlement accounts (overdraft), which are reimbursable without prior request or request within 24 hours or one business day.
21.2. Held for trading financial liabilities this item displays the financial obligations towards clients from held for trading in financial derivatives, short positions in debt instruments and other liabilities of the pension fund which are classified as held for trading financial liabilities.
21.3. Classified as fair value assessed financial obligations with the presentation of profit and loss statement under this item on the financial obligations of the child and other liabilities the liabilities of pension funds are classified as fair value estimated financial commitments with the presentation of the income statement.
21.4. Amortized acquisition value rated financial commitments this item shows subordinated liabilities and other liabilities of the pension fund which are classified as amortized acquisition value assessed financial commitment.
21.5. Deferred income and accrued expenses this item displays the costs relating to the financial year and for earlier years, but the date for payment of the balance sheet date are not yet joined, except that in accordance with international financial reporting standards include the fixed financial obligations at fair value or amortized acquisition costs. This item shall also in accordance with international accounting standard 17-estimated accrued rent payments.
This item shall also show the income that is received by the pension fund until the end of the reporting year, but relating to the next financial year.

This item recording income/expenses consisted only of assets that are not classified in any of the categories of financial instruments.
21.6. The provision under this item displays the savings anticipated pensions URu.tml. commitments relating to the financial year and for earlier years which meet 37. International accounting standard.
21.7. Other liabilities this item displays the other liabilities, which need not be present in other balance sheet liability items.
22. Capital and reserves share capital 22.1 this item shows the nominal value of the shares paid in total.
22.2. Share premium this item displays the sales price of the shares, the excess over the nominal value, excluding fees uzrāt spare capital to pay.
22.3. own shares (–) this item displays the shares recovered, indicating its acquisition value. The acquisition value includes the purchase of shares in the related additional expenditure. In the annex indicates the same number of shares and par value.
22.4. Reserve capital and other reserves this item displays the funds created from contributions to the equity contributions for restoration, the accumulated funds to pay new stock release.
22.5. revaluation reserve this item: 22.5.1. fixed asset revaluation reserve, including the revaluation of fixed assets fair value result in accordance with international financial reporting standards set for sale available 22.5.2. financial assets revaluation reserve, including profit/loss from available-for-sale financial assets fair value change 22.5.3. net foreign exchange differences changes and difference of such changes at the beginning and end of the year the buffer amount under 21 international accounting standard established 22.5.4., intangible assets revaluation reserve in accordance with the international accounting standard 38., 22.5.5. hedging instruments revaluation reserve, including hedging instruments fair value changes, if the Pension Fund uses a cash flow hedging, hedging instruments 22.5.6. revaluation reserve, if the Pension Fund uses a net investment in a foreign company hedging.
22.6. Profit/loss under this item displays the year pension fund surplus of revenue over expenditure before making transfers to pension plans.

Vi. Pension Fund income statement 23. Pension Fund income statement sample 23.1.23.2. Operating income interest income. interest expenditure 23.4 23.3. Dividend income 23.5. realized profit/loss Net of amortized acquisition value assessed financial assets and financial liabilities. Net realized gain 23.6/losses on available for sale financial assets 14.7. Net profit/loss from held for trading financial assets and financial liabilities 14.8. Net profit/loss from classified as fair value measured financial assets and financial liabilities with the presentation of profit and loss statement 14.9. Changes in fair value hedge accounting in 23.10. Foreign currency revaluation gains/losses 23.11. property, plant and equipment, investment property and intangible assets of derecognition of the profit/loss 23.12. Other income 23.13. other administrative expenditure 23.14.23.15. depreciation the accrual of 23.16. unsecured debts building result 23.16.1. expenditure savings 23.16.2 savings decline for. income 23.17. Impairment losses 23.17.1. Amortized acquisition costs in a prized acquisition value in a prized, and available-for-sale financial assets impairment loss 23.17.2. property, plant and equipment, investment property and intangible assets impairment loss 23.18. Profit/loss 23.19. Prior year losses 23.20. Transfers to pension plans (23.18-23.19.)

VII. the explanation of the Pension Fund's income statement items 24. Operating income this item report income from pension plan administration.
25. Interest income this item displays the year in interest income and similar income from the assets shown in the balance sheet under 19.1.1 to 19.1.6., t.sk. income arising from a discount amortizēj for assets acquired by the value that is less than the nominal value of the Pension Fund, which will receive the assets maturity repayment term, excluding the income from the shares. As a percentage of revenue reductions include expenses arising from the amortizēj bonus for assets acquired by value greater than par value, which will receive the pension funds, due to the repayment of these assets.
As interest income report income resulting from the agreement on the sale of the asset repurchase (repo) as a result of active buyer, amortizēj the positive difference between the sales price of the assets purchased and the purchase price.
As interest income report income from hedging purpose purchased financial derivatives, which are divided according to the actual agreement and essentially similar percentages.
This item also includes interest like commissions and service charges, calculated on the basis of the requirements laid down in the contract amount and/or the term of the contract.
26. Interest expenditure under this item displays the year in interest expenses and similar expenses from the Pension Fund's activities, inclusive of all expenses on commitments presented in the balance sheet item 19.2.1.-, t.sk 19.2.4. expenses incurred in respect of the amortizēj discount derived value that is less than the face value of that pension fund payment, repayment of the obligation due. As interest expense reductions include income arising from the amortizēj a bonus for commitments derived value that is greater than the nominal value of the pension fund which will pay for this commitment comes maturity.
As interest expenses presented in the costs incurred by the agreement on the sale of the asset repurchase (repo) assets resulted in renaming, amortizēj a positive difference between the purchase price of the assets sold and the sales price.
As interest expenses show expenses from hedging purpose purchased financial derivatives, which are divided according to the actual agreement and essentially similar percentages.
This item also includes interest like commissions and service charges calculated on the basis of the obligations laid down in the contract amount and/or the term of the contract.
27. Dividend income this item displays from investments in shares and other securities with fixed income dividend received and receivable and similar income.
28. Net realized profit/loss from the acquisition value of the amortized rate financial assets and financial liabilities this item reports profits/losses on held-to-maturity investments and other amortized acquisition value prized financial assets sales or other forms of removal from the balance sheet, as well as amortized acquisition value of financial liabilities valued sales.
29. Net unrealized gains/losses on available for sale financial assets this item shows the previous reporting periods of the balance sheet under "revaluation reserves" reflected in gains/losses on available-for-sale financial assets fair value, if available-for-sale financial assets are sold or otherwise excluded from the balance.
30. Net profit/loss from held for trading financial assets and financial liabilities this item displays the resulting revaluation gains/losses and realized gains/losses on financial instruments listed.
31. Net profit/loss from classified as fair value measured financial assets and financial liabilities with the presentation of profit and loss statement under this item displays the change in fair value of financial assets and financial liabilities that are classified as fair value estimated by the presentation of profit and loss statement. This item shall also realized gains/losses on financial instruments listed.
32. the changes in fair value hedge accounting on this item reflect the revaluation at fair value in financial derivatives which hedge accounting is used, and against the risks of limited items revaluation at fair value result.
33. Foreign currency revaluation gains/losses under this item displays the transactions in foreign currencies and foreign currency-denominated assets and liabilities revaluation gains/losses, except the balance sheet item "revaluation reserve" reported.
34. property, plant and equipment, investment property and intangible assets of derecognition of profit/loss

This item displays the profit/loss from property, plant and equipment, investment property and intangible assets of derecognition, i.e. disposal of assets or where the use or transfer of assets is not expected in the future economic benefits.
35. Other income and expenses these items show other income and expenses associated with the operation of the Pension Fund, but is not reportable under the 24.-the requirements of paragraph 34, t.sk. payments to the pension plan. Like the produce of other income, such as interest received. As other expenses show, for example, paid the fine and deduction of Commission. The annex provides information on the structure of the item.
36. Administrative expenses this item displays the staff remuneration, social security costs, mission expenses, rental expenses, communication expenses, certified auditor fees, the publication of the financial statements expenses, advertising, presentations, and other administrative costs.
37. Under this item displays the depreciation of property, plant and equipment, investment property and intangible assets depreciation.
38. The accrual of debts building unsafe results presented under this item costs savings not secure debts relating to the financial year. In addition, this item includes the losses resulting from the write-off of assets, if they have not previously been provisioned or created stocks proved to be less than the amount of the disposal. This item shall also not safe in previous years debt stocks reduction created, as well as income from previous years of recovery of assets written off.
39. The value of the damage this item displays the amortized acquisition costs the acquisition value of the prized, valued in and of available-for-sale financial assets impairment loss.
This item shall also show the property, plant and equipment, investment property and intangible assets for impairment.
40. Transfers to pension plans, this item displays the year pension fund surplus of revenue over expenditure of the reporting year and prior year loss transfer to pension plans. If the Pension Fund has several pension plans, in the annex to the financial statements clear excess of revenue over expenditure of the principle on the pension plans.

VIII. Pension Fund cash flow statement 41. Cash flow statement shows cash and its equivalent income and charges in the year to evaluate the ability of pension funds to generate cash and cash equivalents liabilities.
42. the money is considered a cash balance in hand, claims against credit institutions on request, and with the remaining repayment period up to three months.
43. the cash equivalents are to be considered as highly liquid short-term investments, i.e. those that short period of time can be converted to cash and there is little chance that its value will change significantly. Usually, the investment is considered cash equivalents only if, from the date of purchase until the deletion (repurchase) residual maturity is short, such as three months or less.
44. in the annex, show and explain the Pension Fund cash flows report the components of cash and cash equivalents.
45. the Pension Fund cash flow statement cash flow separately to the pension fund operating, investing and financing activities in accordance with international accounting standard 7.
46. the movement of funds from one in cash and kind to each other are not considered cash flow and not recording a cash flow statement.
47. the sample cash flow statement using the indirect method, is given in annex 2. The Pension Fund can also be applied to the direct method in preparing the cash flow statement.
 
IX. Pension Fund capital and reserves 48. statement of changes in capital and reserves changes in the report, which describes the changes in the pension fund net assets present: 29.9. Pension Fund's profit/loss;
48.2. gains/losses that are directly included in the balance sheet item ' revaluation reserve ', and their total;
48.3. the change in accounting policy cumulative effect and significant bug fixes;
30.1. transactions with shareholders, related to the issue of shares, and delete, same share buy and sale;
30.1. transfers of pension plans;
30.2. profit/loss for the reporting period and the beginning of the end of the year and changes in these indicators during the reporting period;
30.3. each share capital paid in kind of the shares comprising the book value, share premium, reserves and other reserves the equity statement at the beginning and end of the year, explaining each change.
49. changes in capital and reserves reporting sample provided in annex 3.

X. the Pension Fund's financial statements Annex 50. the following shall be inserted in the annex, as well as other points of these regulations on the Pension Fund's financial statements and specified the contents of international financial reporting standards with the requested information.
51. Accounting policy provides clarification for an explanation of all the most important accounting policies used in preparing the financial statements, t.sk. about: 51.1. the criteria and assumptions applied for recognition of balance sheet items in the balance sheet or off;
51.2. balance sheet items valuation principle;
51.3. the accumulation of income and expenditure and recognition policy;
51.4. the criteria for the classification of financial instruments takes place in the following categories: loans and receivables, held for trading financial assets or financial liabilities as at fair value estimated financial assets or financial liabilities with a reflection on the profit or loss, available-for-sale financial assets and held-to-maturity investments, as well as on the criteria and limits the reclassification of these instruments;
51.5. the methods and significant assumptions used in the fair value of financial instruments;
hedging ratio 51.6. recognition and breaking policy and accounting principles;
32.1. the accrual of non-secure debts building principles, not recoverable debt write-off;
32.2. relevant error relating to previous accounting periods, the corrections procedure;
51.9. changes in accounting policies for recognition;
51.10. items expressed in foreign currency, the presentation of the Republic of Latvia for the conversion of the currency used in the course.
52. the distribution of assets and liabilities by currencies presented in the balance sheet assets and liabilities reflected in the breakdown by currencies.
53. The Pension Fund, the geographical distribution of the assets of the presented balance sheet reflect the geographical distribution of the assets.
54. Transactions with related parties Found ways of the business, the nature and extent of that pension funds are made to related parties, t.sk. guarantees (guarantees) issued in that person's performance.
55. Capital and reserves represent the registered and paid-up share capital, indicating the types of shares and par value. If the reporting year have been paid share capital changes, revealing the founders (shareholders), which made the substantial investment in fixed capital or substantially reduced their investment in it.
56. interest income and expenses interest income is presented by type (interest income from claims against credit institutions, from debt and other fixed income securities and other similar income) and interest expenses by type (interest expense on liabilities to credit institutions and other similar expenses).
57. Administrative expenses the administrative expenses of the Present composition of the t.sk. staff remuneration, social security costs, taxes and other administrative costs.
58. taxes shall provide information on the reporting year paid the amounts of taxes and levies by types of taxes and levies, t.sk. on State social insurance payments, and received tax incentives and deferred taxes. Balance sheet items included in the tax and fee amounts, calculated default interest, fines and other State budget and local budgets or due to overpayments shall be presented according to the types of taxes and fees.
59. information on the management and the shareholders presented news about: 59.1. Pension Fund Council, if any, and the members of the Board of first name, last name, and position. The news also provides for people who, in the year left these positions.
59.2. the Council and the members of the management board the total remuneration paid, as well as the Council and the members of the Management Board issued an advance, loan, guarantee, URu.tml. the total amount of the transaction;
59.3. shareholders and their contributions to the Pension Fund's share capital.
60. the average number of employees in the report presented to the annual average number of employees by category of personnel.

61. If between the balance sheet date and the date on which the annual report approved for issue has received information that indicates the factors arising after the balance sheet date, and they are so significant that, without providing information about those accounts would be affected users ' ability to evaluate these reports and make decisions, the annex provides information on the nature of each such event and estimate the financial consequences or notification that such an estimate cannot be made.
62. the annex shall clearly indicate the fact that the financial statements prepared in accordance with international financial reporting standards approved by the European Commission, as well as disclose information when significant differences between this prepared financial statements and financial statements, which are fully prepared in accordance with the international accounting standards Board issued international accounting standards, financial reporting standards and international financial reporting interpretations Committee's interpretations of standards. Significant difference, a description of each of these differences and differences in the financial estimate.

XI. Pension Plan net assets report 63. Pension Plan statement of net assets 63.1. sample assets 63.1.1. requirements on demand to credit institutions 63.1.2. Held for trading financial assets 63.1.2.1. Debt securities and other fixed income securities 63.1.2.2. Shares and other securities with fixed income 63.1.2.3. Derivative financial instruments are classified as 63.1.3. fair value of financial assets with an estimated coverage of profit or loss 63.1.3.1. Debt securities and other fixed income securities 63.1.3.2. Shares and other securities with fixed income 63.1.4. Available-for-sale financial assets 63.1.4.1. Debt securities and other fixed income securities 63.1.4.2. Shares and other securities with fixed income 63.1.5. Held-to-maturity investments 63.1.5.1. Debt securities and other fixed income securities 63.1.5.2. Time deposits with credit institutions 63.1.6. Receivables accrued income and 63.1.7. prepaid expenses 63.1.8. Investment property. 63.1.9 other assets total assets 63.1.10 39.3.63.2.1. Liabilities held for trading financial liabilities 63.2.2. Classified as fair value assessed financial obligations with the presentation of profit and loss statement
63.2.3. Amortized acquisition value rated financial liabilities other liabilities 63.2.5 63.2.4. Deferred income and accrued expenses 63.2.6. Total liabilities net assets 63.3. (63.1.10.-63.2.6.)

XI. Explanatory notes on the individual pension plan net assets report items that explanation differs from the 64. In chapter V of the receivables this item displays the claims against the pension plan customers, the period provided for in the schedule of payments, but not yet received, contributions to the pension plan from the pension plan participants, employers and other contributor, as well as claims against the customer arising from incomplete transactions and settlement of claims against the Pension Fund.
65. the net assets this item shows the members of the pension scheme accrued retirement benefits, which is calculated from the amount of the pension plan assets less the liabilities amount.

XIII. A pension plan net asset movement statement 66. Pension Plan net asset movement statement sample 66.1. Net assets at the beginning of the year. Contributions and expenses 66.2 pension plan 66.2.1. Pension Plan member contributions 66.2.2. Employer contributions other contributions 66.2.3.66.2.4. Transfers from other pension funds or plans. retirement benefits paid 66.2.5 for 66.2.5.1. costs to persons who have reached pension plan retirement age specified in 66.2.5.2. The cost of pension plan participants disabilities due to 66.2.5.3. costs the heirs due to the pension plan member's death 66.2.6. Transfers to other pension funds or plans-66.2.7.66.2.8. Net administrative expenses increase assets (decrease) and cost (66.2.1. + 66.2.2. + 66.2.3. + 66.2.4-66.2.5-66.2.6.-66.2.7.)
66.3. The reporting period income. Interest income 66.3.2 66.3.1. Income from dividend income from investments 66.3.3. property 66.3.4. other investment income 66.3.5. Income from the Pension Fund's total income 66.3.6 (66.3.1. + ... + 66.3.5.)
66.4. expenses of the reporting period 66.4.1. Interest expense 66.4.2. Investment management expenses total expenses 66.4.3. (66.4.1. + 66.4.2.)
41.3. investment value increase/(decrease) 66.5.1. Realized investment value increase/(decrease) 66.5.2. Unrealized investment value increase/(decrease) 66.5.3. investment value increase/(decrease) in the set (66.5.1 + 66.5.2.)
66.6. Pension Plan the operating result (66.3.6.-66.4.3. + 66.5.3.)
net asset increase of 66.7./(decrease) in the reference year (66.2.8. + 66.6.)
41.5. A pension plan net assets at the end of the accounting year (66.1. + 66.7.)

XIV. Explanatory notes on the individual pension plan net asset movement statement item for which the explanation is different from specified in chapter 67. Administrative expenses this item displays the deductions to the Pension Fund for pension plan administration, t.sk. transfers of the Commission. The annex provides information on the structure of the item.
68. Income from investment property this item report income from investment property letting and hiring.
69. Income from a pension fund under this item represent the pension fund surplus of income over expenditure, which transfer the pension plan.
70. the investment management expenses presented under this item costs means the holder, Manager, URu.tml. pension plan investment management expenses.
71. the realized investment value increase/(decrease) this item displays the difference between the amount of money received from the net assets of 63.1.2.-63.1.5. report and item 63.1.8 reflects contributions to marketing, t.sk. delete, of the Securities and the amount of money that is spent to purchase these investments, adjusted in the following order: 71.1. increasing their contribution to the reduction of the value of the specified to its revaluation in previous reporting periods;
71.2. reduced by the increase in the value of the contribution provided in the revaluation in previous reporting periods.
72. Unrealized investment value increase/(decrease) in net assets This item shows the reporting 63.1.2-63.1.5. and 63.1.8. reported assets under the revaluation resulting value increase/decrease, t.sk. fair value revaluation of investments evaluated, foreign currency translation, provision of unsecured debt, as well as impairment loss.
 
XV. The pension plan financial statements annex the following is inserted in Annex 73, as well as other points of these regulations on pension plan financial reporting specified the contents of the annex and the international financial reporting standards with the requested information.
74. Accounting policy clarification If, when the pension plan, pension fund use different accounting policies from other pension plans or pension funds, used in it, subject to paragraph 51 stated criteria, provide an explanation of all the most important accounting policies used in preparing the financial statements of the pension scheme.
75. Investment policy and investment-related risk management Provides a description of the investment policy, changes in the reporting year and the situation in the different markets. Show pension plan investments, those limits, looking at the risks associated with financial instruments and investment properties, and describes the risk management and diversification. Explain how their risk, which substantially affect the operation of the pension scheme, has changed over the reporting period, as well as provide clarification on the holding of financial instruments objectives and policies, which are implemented to achieve the objectives set.
76. the allocation of assets and liabilities by currency Presenting net asset reporting items reflect the distribution of assets and liabilities by currency, as well as their percentage.
77. The pension plan asset allocation is presented in the statement of net assets items reflect the financial instruments and investment property placement in accordance with the law "on private pension funds ' in the third paragraph of article 23, including: 77.1. the countries referred to in the law and local government issued or guaranteed securities or money market instruments by type and amount;
77.2. international financial institutions issued or guaranteed securities or money market instruments, which is a member of one or more Member States;
77.3. of the countries mentioned in the law and stock exchange (regulated market) or equivalent in the official list shares and other equity and debt securities broken down by type and amount;

77.4. stock exchange (regulated market) or equivalent official in the company unlisted equity and debt securities where the securities rules that they are expected within one year from the date of subscription to these securities will be included in the law of stock exchange referred to in official lists, by type and amount;
77.5. credit institutions term deposits, which have received a licence for the operation of the credit institution in a Member State and which have the right to provide financial services in those countries;
77.6. investment fund or similar investment company common investment certificates, if the investment fund is established in the countries listed in the law and its investors are entitled without restriction to dispose of their investment certificates;
77.7. real estate, established by law in those countries;
77.8. derivative financial instruments;
77.9. investments in risk capital markets.
78. Financial assets whose carrying value is different from the fair values Of those financial assets whose carrying amount differs from the true value, provide the following information: 78.1. If financial assets must be valued at their fair value, but this is not done, this fact is discovered, explaining, for any reason, such financial assets are measured at fair value;
78.2. If financial assets must be valued in the acquisition value and amortized book value is higher than their real value, explains the reasons why it was not recognised financial assets impairment losses, as well as providing objective evidence that financial assets will regain at least their carrying amount;
78.3.78.1 and 78.2. presented in paragraph financial assets the carrying amount and the fair value of the net assets, including relevant report item, which the financial asset.
79. Interest income and expenditure reflects the interest income by type (interest income from claims against credit institutions, from claims against counterparties, the other from debt and other fixed income securities and other similar income) and interest expenses by type (interest expense on liabilities to credit institutions, for the rest of the counterparty obligations and other similar expenses).
80. the realized investment value increase/(decrease) displays the realized investment value increase/decrease structure, t.sk. the acquisition value of investments sold, sold the investment sales price and value of investments sold (increase)/decrease in established in previous reporting periods, the adjustment.
81. Unrealized investment value increase/(decrease) displays the unrealized appreciation of investments/reduction structure, t.sk. report of assets and liabilities items which in the year under review was overrated and revaluation.
82. The investment management expenses presented in the investment management costs.
83. information about the movement of investments accounting year for each item in the statement of net assets shall present the following information: 83.1. book value at the beginning of the year;
51.7. increase, i.e., the new acquisition of assets and liabilities in the accounting year;
83.3. reduction, i.e., the disposal of assets and liabilities for the year under review;
83.4. revaluation accounting year (net);
83.5. book value at the end of the year.
84. in dealings with employers and related parties Found ways of the business, the nature and extent of that pension plan is a pension plan with the employers and participants with all the pension fund related parties.
85. a number of participants of pension plan Dynamics shows a number of members of the pension scheme at the beginning of the financial year and in the end, the number of members who joined and retirements during the year, as well as the reasons for the withdrawal.
86. The pension plan members age structure presented in the pension plan of the members of the age structure, dividing it into the following age groups: 53.5. participants under 30 years of age (inclusive);
86.2. Participants aged from 31 to 40 years (including);
86.3. Participants aged between 41 and 50 years (including);
86.4. participants between the ages of 51 and 60 years (including);
86.5. participants between the ages of 61 and older.
87. information about the pension plan the pension plan profitability profitability calculated as a result of the pension plan in relation to the pension plan for the year of each month, the arithmetic average of the asset amount divided by the number of months in the year, expressed as a percentage. Profitability calculation, assuming that the year is 365 days. The yield is calculated by the formula: where: a-pension plan performance (66.6);
NET S-pension plan net assets at the beginning of the month concerned;
NET B – pension plan net assets at the end of the month concerned;
n-pension plan number of months in the year.
88. information reporting requirements for cross-border activities in another Member State of the European Union If the Pension Fund in accordance with the law "on private pension funds ' cross-border activities and participating in the national pension plan contribution limits are set more stringent requirements than in the Republic of Latvia, then the pension plan provides the following results in the separation of assets and liabilities and the amount of assets and liabilities and structure individual reporting of net assets report as well as 77., paragraph 78 and requirements by participating countries.

XVI. The Pension Fund and the pension plan financial statements items of the evaluation provisions 89. Pension Fund prepares financial statements according to the following general principles: 89.1. going concern principle, assuming that the Pension Fund will operate in the future and management has no intention or need to terminate the operation of or significant reduction in transaction volume;
89.2. the consistency principle, consistently using the same accounting and valuation methods of the period;
89.3. precautionary principle during the evaluation in all cases with due care, subject to the following conditions: 89.3.1. include only a reference year of profit, that is, the income/expenses are presented, taking into account the conditions that existed at the balance sheet date, 89.3.2. takes into account any liabilities relating to the financial year and the previous financial year, 89.3.3. takes into account any write-down and amortization/depreciation amounts, whether or not the reference period a loss or a profit;
89.4. accrual basis to reflect the income and expenses relating to the financial year, irrespective of their receipt or payment date;
89.5. report reflecting all relevant information on transactions and events in the year. Information is material if its non-disclosure could affect the users of the financial statements of the further decision-making;
55.7. asset, liability and capital and reserves items and components of assessing the individual;
55.7. each report the beginning of the year the balance in accordance with the preceding financial year closing balance and each accounting year report net assets at the beginning of the data are consistent with the previous accounting year closing net asset reporting data. The beginning of the year net asset balance and the beginning of the data in the report may be different from the shareholders ' meeting approved the previous year's balance sheet and statement of net assets, if in accordance with international financial reporting standards are specified adjustments of previous accounting periods.
90. If using these provisions 89. the conditions referred to in points between some of them conflict, individual transaction or event evaluation, preferring the precautionary principle and the principle of materiality.
91. In preparing the financial statements, the pension fund management may derogate from the 89 conditions listed in only justified reasons, in the annex to the financial statements explaining the nature of any such derogations and the impact on the Pension Fund and the pension plan's financial position and operating results.
92. transactions and events the financial statements reflect their economic content and nature, not merely their legal form.
93. the balance sheet Pension Fund and the pension plan net assets statement of assets and liabilities are presented at the value which should not be reduced by deducting from the value of the asset value of the undertaking or deducting from the value of the asset value of obligations, except where required or permitted by the international financial reporting standards.
94. The Pension Fund's profit or loss and net assets of the pension scheme of the movement report income and expenses may not be mutually set off except when required or permitted by the international financial reporting standards.
95. the balance sheet Pension Fund and the pension plan assets in the statement of net assets, if they are provisioned, this report displays the accrual amount.
96. Assets and liabilities in foreign currency in the Republic of Latvia monetary units by Bank of Latvia exchange rate on the last day of the year. With the change in foreign exchange rates relates to the value of assets and liabilities change in Latvian monetary units reflect the profit and loss statement or net asset movement statement or the balance sheet item "revaluation reserves" in accordance with international accounting standard 21.

97. If, between the end of the year and the date on which the annual accounts have been approved for issue, received information that provide evidence of conditions that existed at the balance sheet date, the following events take account of relevant items of the financial statements.
98. Accounting policy in the Pension Fund are determined by each type of financial instrument valuation method and apply it consistently. Financial instruments are classified as follows: 98.1. fair value estimated financial assets or financial liabilities with the presentation of the income statement: 98.1.1. held for trading financial assets or financial liabilities are classified as 98.1.2. fair value measured financial assets or financial liabilities with the presentation of profit and loss statement;
98.2. available-for-sale financial assets;
98.3. loans and receivables;
98.4. held-to-maturity investments.
99. All items of the financial statements, the assessment shall be carried out on the basis of international financial reporting standards requirements, insofar as this does not conflict with the provisions of paragraph 4.

XVII. Closing questions 100. provisions applicable to the Pension Fund in preparing the annual report, beginning with the year 2006.
101. The Pension Fund is entitled to apply the rules, the preparation of the 2005 annual report.
102. With the entry into force of these regulations shall lapse with the financial and capital market Commission Council of 8 august 2003 decision No 181 approved "private pension funds annual report preparation of the rules".
Financial and capital market Commission, the President of the U.S. When the annex 1 financial and capital market Commission-19.05.2006. Regulation No. 100 provisions used terms 1. Financial instruments (financial instrument)-32. the international accounting standard within the meaning of paragraph 11.
2. Financial assets (financial asset)-32. the international accounting standard within the meaning of paragraph 11.
3. financial commitments (financial liability)-32. the international accounting standard within the meaning of paragraph 11.
4. Equity instruments (equity instrument)-32. the international accounting standard within the meaning of paragraph 11.
5. Derivative financial instruments (the counterparties) – 39. international accounting standards within the meaning of paragraph 9.
6. the estimated fair value of the financial assets or financial liabilities with the presentation of profit and loss statement (financial asset or financial liability at fair value through profit or loss) – 39. international accounting standards within the meaning of paragraph 9. These include: 6.1 keep trading financial assets or financial liabilities (financial assets or financial liability held for trading);
6.2. upon initial recognition classified as fair value estimate with the presentation of profit and loss statement (upon initial recognition designated as at fair value through profit or loss) (text of rules – classified as fair value estimated by the presentation of profit and loss statement).
7. Held-to-maturity (held-to-maturity) investments – international accounting standard 39. paragraph 9 of the terms.
8. loans and receivables (loans and receivable) – 39. international accounting standards within the meaning of paragraph 9.
9. Available for sale (available-for-sale) financial assets – 39. international accounting standards within the meaning of paragraph 9.
10. Fair value (fair value)-32. international accounting standards within the meaning of paragraph 11.
11. The Depreciated value of acquisition (amortised cost) – 39. international accounting standards within the meaning of paragraph 9.
12. The value of the loss (the loss of impairmen) – 36. international accounting standards within the meaning of paragraph 6.
13. Book value (carrying amount) – 36. international accounting standards within the meaning of paragraph 6.
14. the estimated value of the acquisition (cost method) – 27. international accounting standards within the meaning of paragraph 4.
15. Hedging (hedging) – 39. International accounting standard within the meaning of paragraph 71.
16. Investment property (investment property)-40. international accounting standards within the meaning of paragraph 5.
 
Annex 2 financial and capital market Commission-19.05.2006. Regulation No. 100 cash flow statement for the year 200 ___ (period) n. PO box
Name of the position in the year of a previous 1.
Cash flow from operating activities results in 1.1.
Profit/(loss) 1.2.
Intangible assets and depreciation of fixed assets/depreciation 1.3.
Intangible assets and fixed assets impairment loss recognised "revaluation reserves" 1.4.
Unsafe stocks increase/debt (reduction) 1.5.
Unrealized foreign exchange (gain)/loss of 1.6.
Unrealized (gain)/loss from fair value through profit or loss calculation estimated 1.7 non-financial assets.
The held-to-maturity investments (gains)/losses to 1.8.
Fixed assets and intangible assets (profit)/loss of 1.9.
Unrealized net (gains)/losses on cash flow hedging 1.10.
Unrealized net (profit)/loss from revaluation of available-for-sale investment recognised the "revaluation reserves" 1.11.
Cash and cash equivalents increase/(decrease) in operating result before changes in assets and liabilities [1.1 + ... + 1.10.]


1.12. Claims against credit institutions (increase)/decrease in 1.13.
Loans and receivables (increase)/decrease in 1.14.
Available-for-sale financial assets (increase)/decrease in 1.15.
Held for trading financial assets (increase)/decrease 1.16.
Classified as at fair value of financial assets with the presentation of profit and loss statement (increase)/decrease in 1.17.
Used for hedging derivative financial instruments (assets items) (increase)/decrease in 1.18.
Accrued income and prepaid expenses (increase)/decrease in 1.19.
Other assets (increase)/decrease in 1.20.
Liabilities to credit institutions demand increase/(decrease) 1.21.
Held for trading financial liabilities increase/(decrease) 1.22.
Classified as fair value assessed financial obligations with the presentation of the income statement increase/(decrease) 1.23.
Used for hedging derivative financial instruments (liabilities) increase/(decrease) 1.24.
Accrued expenses and deferred income increase/(decrease) 1.25.
Global commitment increase/(decrease) 1.26.
Cash and cash equivalents changes operating results in 1.27.
Cash and cash equivalents increase/decrease in operating results [1.11. + ... + 1.26.]


2. Cash flow from investing activities 2.1.
Fixed assets and intangible assets (acquisition) 2.2.
Fixed assets and intangible assets was 2.3.
Participation in share capital of the company (acquisition) 2.4.
Participation in the share capital of the company for the sale of 2.5.
Participation in share capital of the company selling 2.6.
The held-to-maturity investments of 2.7.
Other investing activities (paid)/received money 2.8.
Cash and cash equivalents increase/(decrease) investing activities [2.1. + ... + 2.7.]


3. Cash flows to/from financing activities 3.1.
3.2 share issue.
The underlying commitment to 3.3.
Money (cost) for the repayment of the underlying connection 3.4.
Debt securities issue 3.5.
Debt securities (repurchase) 3.6.
Own shares (repurchase)/sale of 3.7.
The rest of the financing activities (paid)/received money 3.8.
Cash and cash equivalents increase/(decrease) financing activities result in [3.1 + ... + 3.7.]


4. Cash and cash equivalents increase/(decrease) [1.27 + 2.8 + 3.8.]


5. Cash and cash equivalents at the beginning of year 6.
Foreign currency translation profit/(loss) 7.
Cash and cash equivalents at the end of the reporting year [4. + 5. + 6.]


 
Annex 3 financial and capital market Commission-19.05.2006. Regulation No. 100 changes in capital and reserves share capital report (stock) share premium own shares reserve capital other reserves retained earnings/loss revaluation reserve total balance 1 2 3 4 5 6 7 8 9 of the previous reporting year changes in accounting policies balance Recalculated asset revaluation of available-for-sale financial assets Revaluation of foreign exchange revaluation of intangible assets Revaluation of hedging instruments revaluation revaluation reserve increase/ (total) previous loss for the financial year share issue/Delete own shares buy/sell balance at the beginning of the year fixed assets Revaluation of available-for-sale financial assets Revaluation of foreign exchange revaluation of intangible assets Revaluation result









Hedging instruments revaluation revaluation reserve increase/decrease (total) profit/loss share issue/Delete own shares buy/sell balance at the end of the reporting year