Cabinet of Ministers Regulations No. 278 in 2012 (April 17. No 20 20) amendments to the Cabinet of Ministers of 27 May 2003, regulations No. 272 "provisions of the State funded pension scheme" Issued under the State funded pension law article 3, third paragraph, the second paragraph of article 5, article 7, first paragraph, point 2, article 10, first paragraph, point 5, second subparagraph, and article 11, third and sixth and article 13 of the sixth and seventh paragraph to make Cabinet 27 May 2003, the provisions of the "rules on no 272 State funded pension scheme" (Latvian journal , 2003, no. 82; 2004, nr. 81; 2007, 45 no; in 2008, 57 no; 2009, no. 154) the following amendments: 1. To supplement, on the basis of the provisions of the law issued in "behind the numbers and the second subparagraph of article 5" with numbers and the words ' article 7, first paragraph, point 2. " 2. Supplement with 1.8. subparagraph by the following: "1.8. life insurance (lifetime pensions) (hereinafter referred to as a lifelong pension) insurance standard provisions." 3. Replace the words "paragraph 36.1 of three" with the word "nine". 4. Replace 36.2. in subparagraph names and number "not later than 10 working days" with the words "no later than four months". 5. Replace 37.3. in subparagraph names and number "not later than 10 working days" with the words "no later than four months". 6. Replace the words "in paragraph 39.1. four" with the word "nine". 7. Replace the words in and 24.5 "not later than 10 working days" with the words "no later than four months". 8. Express 24.3 1.1. subparagraph by the following: "39.1 application 1.1 indicating each name the investment plan or investment plan of each candidate and the new name of the management plan for the transfer of reason, investment plan, through which the funds Manager after the completion of the transfer of the investment plan to participate in the distribution of the participants of the scheme in accordance with the provisions of point 7.1, as well as the meaning of management with important information;". 9. Express 24.3 1.3. subparagraph by the following: "24.3 1.3. investment plan approved transfer calendar plan for actions to be undertaken, the expected date or period and of the person responsible. Calendar plan is consistent with the new management, and it is mutually signed by fund managers; ". 10. Replace 24.3 6. subparagraph the words "no later than five working days" with the words "no later than four months". 11. Supplement with 24.3 8. subparagraph by the following: "39.1 8. the Agency has 20 working days after the completion of the transfer of the investment plan to terminate the contract with the management of the management of the funds of the scheme, if the management of the investment management service of the completion of the plan, there is no other investment plans." 12. Express 67 follows: "67. If a scheme member has the right to buy policy in a lifelong pension agency within 10 working days of the receipt of the approval of the management of old-age pensions (for conversion) to be used for the calculation of the accrued pension funded capital transfer account specified by the Agency and the relevant track information scheme member account send the scheme participant, the following information: 67.1. accumulated capital in the scheme and the old-age pension scheme that part can get by choosing the accumulated pension capital funded add unfunded pensions funds; 67.2. names, addresses and contact information to insurance companies that are licensed in and offers a lifetime pension insurance services scheme members (hereinafter referred to as the insurance companies); 67.3. the insurance company home page on the internet that provide for estimated lifetime pension monthly costs calculator; 41.9. insurance companies minimum occupational pensions accumulated capital, which gives the right to buy policy in a lifelong pension; 67.5. the order in which the members of the scheme may conclude a life pension insurance contract with an insurance company. ' ' 13 Add to rules with 67.1 points as follows: "67.1 insurance companies up and keep your website on the internet raise the estimated lifetime pension cost calculators for determining the scheme member provides all the information you need about lifetime pension insurance contract arrangements, as well as ensure that scheme members retirement forever calculated amount specified in the policy will differ from insurance companies estimated the amount offered in the calculator." 14. Make 68, 69 and 70 of the following paragraph: "68. If a member of the scheme requires the calculation of old-age pensions (for conversion) occupational pension funds add to the pension funds of unfunded or funded pension accumulated capital is less than the accrued pension funded the minimum amount of capital, which gives the right to enter into a lifelong pension insurance contracts with any of the insurance companies, the Agency shall ensure appropriate amounts of money (occupational pension capital) transfer of State pension special budget and calculated (recalculated) old-age pension in accordance with the law "on State pensions". 69. the policy in a lifelong pension for occupational pensions accrued capital purchases in the following order: 69.1. participant of the scheme apply to the selected insurance companies, after which the insurance conditions of the insurance company and a member of the scheme enters into a life pension insurance contract according to the law "On insurance" and these terms; EB 69.2. insurance company one workday after life pension insurance has become the undisputed, shall inform the Agency and the members of the scheme that the scheme has been a lifelong member of the pension insurance agreement, indicating the date on which this Treaty has become incontrovertible. The Agency shall, after receipt of such information within 10 working days of paid member funded pension scheme in the capital of the insurance company concerned; If the scheme participant 69.3. after paragraph 67 of these rules of receipt of the information referred to in or after consultation with the insurance companies, however, choose not to conclude a lifelong pension insurance agency, and submit the application for occupational pension funds to the pension funds of unfunded, or six months after these regulations referred to in paragraph 66 of the date of receipt of the application, the Agency has not received information from members of the scheme, not from insurance companies on the conclusion of a life pension insurance contract , it is considered that the scheme member has chosen occupational pension funds add to the unfunded pension funds, and the Agency will act in accordance with the rules of procedure referred to in paragraph 68. 70. the Agency with each insurance company to sign a contract, which defines the lifetime pension insurance contract is concluded the procedure, including the rules, 67.3, 41.9 67.2..., and 67.5. providing the information referred to in subparagraph a, the other between the amount of information to be provided and the Exchange, insurance premiums transfer arrangements as well as other additional conditions to be agreed between the Agency and the insurance company. " 15. Express 71 the first sentence as follows: "concluding and executing contracts with potential insurance companies, the Agency in the interests of the participants of the scheme of equal treatment and all claims against the insurance companies." 16. To supplement the rules by Their Department as follows: "the Dispute. Standard life pension insurance provisions of the scheme member who 73.1 of the accumulated pension capital funded wish to enter into a lifelong pension, life insurance contracts pension insurance contract is the policyholder and the insured person.

life insurance pension 73.2 contract for members of the scheme (hereinafter insured person) is open-ended. On the basis of a lifelong pension insurance contract, the insured person to death are guaranteed lifetime pension in the amount specified in the contract. Before life pension 73.3 insurance contract is concluded the insurance undertaking shall calculate the Member's lifetime pension scheme's scope for lifelong pension costs in the period, and shall notify the insured person, having regard to the application of insurance specified in the occupational pension capital (insurance premiums), particulars of insured persons, as well as the wishes of the insured person for lifetime pension costs recurrence – monthly, quarterly, half-yearly or annually. In determining the lifetime pension, take note, or pensions life insurance contract contains the beneficiary. life insurance pension 45.6 contract terms: 45.6 1. provided the beneficiary, provide life pension guaranteed payout phase during which the beneficiary of the insured person's death to a life pension guaranteed costs by the end of the period the insured person is paid for life pension. A life pension guaranteed cost of not longer than 20 years and begins to run from the first payment of a lifelong pension of the insured person of the day. Insured person lifetime guaranteed pension payout period may change the beneficiary. Changing the beneficiary of a life pension guaranteed payout period may not be changed; 45.6 2. you can specify several life stages of pension costs, but not more than three, during which determines different life due to the amount of the pension. The first lifetime pension payout period is at least five years. The first lifetime pension payout period generally cost no more than half of the paid insurance premiums; 45.6 3. may provide temporarily to postpone the launch of the lifelong pension costs (deferred period). In this case, the contract specifies the deferred period in years. Deferred period not exceeding 10 years; 45.6 4. If intended for temporary suspension of a lifelong pension costs, the cost of a lifelong pension and a lifetime pension in each life stage of the payment of the pension can also be determined before the commencement of a lifelong pension costs, the insurance company and the insured person by agreement; 45.6 5. must not be included in the supplementary insurance, as well as the amount of the repurchase cost. the cost of a lifelong pension 73.5 started a lifelong pension insurance period specified in the contract, after the insurance company has received insurance premiums. 73.6 insurance company charged a lifelong pension given a lifelong pension costs at the beginning of the period (for example, at the beginning of the month, at the beginning of each half). Of the insured person or beneficiary in the event of the death of a lifelong pension costs are terminated by the next lifetime pension payout period. life insurance pension 45.8 contract period the insured person is entitled to request change the lifetime pension payout period or lifelong pension pension costs in each life stage. 73.8 insurance company based on the results of financial activity, once a year is entitled to award the bonuses. Bonus paid in a single payment within six months from the award. A lifetime pension insurance contract is not allowed, as well as the vesting bonus bonus accrual. If a lifelong pension 73.9 was paid to the beneficiary, in case of his death the remaining guaranteed cost pension as a lump sum of the period the amount paid to the beneficiary's successors. If the beneficiary and the insured person's death has occurred or if the beneficiary at the death of the request before the insured person's death, and a lifelong pension insurance contract does not specify another beneficiary, the remaining period of the guaranteed cost of pensions paid to the heirs of the insured person in civil law. " 17. Supplement with 84 as follows: "84. Be declared unenforceable in the Cabinet of Ministers of 11 March 2003 Regulation No 106" lifetime pension insurance standard provisions "(Latvian journal, 2003, no. 42.)." 18. To supplement the annex 8.4. the second sentence of the paragraph with the following wording: "the funds Manager five working days before the new custody agreement entered into force, notify the Agency of the new investment plan account that will be transferred to the new custodian of funds." Prime Minister v. dombrovsky Finance Minister a. Wolf