Pillar proposed amendments

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SAN MARINO



We the Captains Regent of the Most Serene Republic of San Marino


In view of article 4 of the Constitutional Law no.185 / 2005 and Article 6 of Qualified Law
186/2005;
Promulgate and publish the following ordinary law approved by the Great and General Council
its meeting on September 28, 2011:


LAW October 5, 2011 158



SOCIAL SECURITY SYSTEM REFORM

Art.
1 (Purpose)

1. With this Act put in place some interventions to achieve greater
autonomy and self-sufficiency of the Pension Fund established by Law 11 February 1983
15, as amended. It is maintained the objective of ensuring social security in force in the Republic
protections and to safeguard the general interests. These interventions have been provided
taking into account the economic sustainability of the entire social security system and the values ​​of
solidarity that inspire the social security system of San Marino.



Art.2 (Ordinary Retirement pension)

1. From 1 January 2012, the benefit paid pursuant to Article 6, paragraph 4 and
Article 7, paragraph 1, of the 157/2005 Law is called "Ordinary
Pensions Seniority".
2 Insured persons become entitled to a retirement pension on the basis of the conditions laid
Article 6, paragraph 4, of Law 157/2005, or if the sum of the age and || | share of the contribution payments reaches 100. in the latter case, the extent of the benefit is reduced
, permanently, the following percentages:
- if the insured person has completed 57 years of age: 20
% - if the insured person has completed 58 years of age: 15%
- if the insured person has completed 59 years of age: 10%. 3
. The above percentages will be defined for each part of the year.



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Art. 3

1. Article 15 of Law 156 of 20 December 1990 is amended as follows:

"Art.15
(autonomy and self-sufficiency of the Pension Fund)

As part of the Pension Fund provided for in Article 1 of Law 15 of 11 February 1983 and
in the context of its unified management, the Pension Fund is divided into the following main categories
:
a) Employees | || b) Self Employed
c) Farm Workers.
Within the management of the macro category of self-employed is expected
separate accounting treatment for: Freelancers, traders, artisans, entrepreneurs,
Agents and Representatives, members of the legal form of limited Company Srl Holders,
Collaboration Reports Continued to coordinate and Project Directors and Presidents of
bodies of capital Management Company.
Within the macro category of self-employed workers, the Company Shareholders of Capital in the form of legal
Srl, the Holders of Coordinated Collaboration Reports and Continued to
Project, the Directors and Presidents of the Company's Management Bodies
capital flow into the Separate Account.
The rates for each macro category of insured, if the macro category
not result in balance, may be modified by delegated decree proposed by the Executive Committee
Institute for Social Security, after consulting the Council for security.
Any activity of each macro category can not be transferred in favor of
other major categories, except as provided in Article 20 of the Law n.156 / 1990. ".


Art. 4
(Separate Account)

1. As part of the macro category of self-employed is introduced as
1st January 2012, the category called Separate Account to which they are compulsorily affiliated
the entities listed below:
a) the limited Company Shareholders in legal form of limited liability who hold actual
of shares equal to at least 10% of the capital, residents in the Republic of San Marino
and participating personally in corporate job exerting such business in a professional manner
and exclusive. Those who are in possession of these requirements are among the parties responsible
enrollment to the Separate Account, if not already registered, to another
title, the mandatory pension fund of the Institute for Social Security.
All members who are not in possession of the above requirements, can not pay
activities working within the company if not properly trained for work under the legislation in force
;
B) Holders of Coordinated Collaboration Report and Continuativa to project as planned

Article 18 of Law 131/2005;
C) the limited Company Directors and Presidents in the following ways:
1. those enrolled in the macro category of self-employed and who are subject to the provisions contained in Article 11 of the Law
66/2007, are excluded from the obligation of
payments under this legislation;
2. insured persons to another title to Mandatory Pension Fund of the Institute for Social Security
are subject to pay contributions to be calculated on 30% of income

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perceived as Directors and Presidents. The income on which will be calculated
above percentage will not be, however, less than the minimum expected income
by this legislation for self-employed, in relation to the period of activity carried out; 3
. those enrolled in another capacity in the Separate Account category are subject to the payment contributory
to be calculated on 30% of the income received by virtue of the second inscription.
The income on which will be calculated the percentage indicated above will not be, however,
less than the minimum income under this legislation for self-employed
in relation to the period of activity carried out;
4. the member referred to in item a) of this Article, which simultaneously take up the post of Director and Chairman of
limited Company, in relation to compensation received for
such charges, it is subject to the payment referred to in paragraph 2 );
5. those who do not fit in the circumstances referred to above points 1), 2), 3) and 4) and that
are already insured in another capacity to the Pension Fund Required
Institute for Social Security, they are required to pay all the rates to be calculated on income
minimum required and in the manner set out in Decree 168/1985.
2. For activities already in progress as at 1 January 2012, the persons required to enrollment scheduled for
Separate Account must regularize their position formalizing the request
enrollment at the Institute for Social Security, by 31 March 2012. the entry referred to in paragraph
this is forwarded, on special forms prepared by the Institute for Social Security
, attaching documentation showing demographic findings and the type of activity performed
. 3
. For activities carried out after 1 January 2012, the Institute for Social Security
will automatic enrollment of the subjects referred to in point b) of this Article, the sending
Base, the Office of Labour, the contract stipulated under Article 18
Law n.131 / 2005. For the entities referred to in points a) and c) of this Article, the entry will be
of formal communication by the attesting notary, within 30 days from the signing of acts
.


Art. 5
(Contribution scheduled for the Separate Account)

1. The contribution to the Separate Account is due to the extent provided in article 9
and is applied on the taxable income declared to the effects of 15/1983 Act, as
changes, taking into account the minimum income provided for in article 11 paragraph 1 and 2, where the
taxable income declared is lower. The procedures for the declaration of income to the effects
general tax on income referred to in 91/1984 Act, as amended may be enacted
object forms with the appropriate delegated decree.
2. For Reports Holders Continued Coordinated Collaboration and to project within the meaning of Article 18 of the
131/2005 Act, as amended it is expected the allocation of the contribution
to the extent of one third of the member charged and two thirds to be borne by the customer. Only the portion of the member to
load is deductible from their income. 3
. The writing to the Separate Account referred to in Article 4 of this Act, if not
is already registered in another capacity in the mandatory pension system can continue
payment of voluntary contributions into the Fund. The formal request must be submitted to the Institute for
Social Security within 30 days of termination of the work that gave rise to the aforementioned
enrollment management.
4. The voluntary contributions will be based on the minimum income laid down for Class
referred to in Article 11 paragraph 1 and 2 of this Act. In the case of the entities of
among those listed in Article 4 point b) of this Act it shall also be paid to the share
borne by the client.

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5. The minimum contribution requirement to authorize the voluntary continuation of

Separate Account equal to one year of actual contributions during the five years preceding that relative
question or at least five years of actual contribution.


Art. 6
(Separate Management Performance)

1. In relation to the contribution gained the Separate Account, the amount of due
pension is determined according to the contribution system, multiplying the individual pillar of contributions
, at retirement, the conversion rate defined by || | specific table, to be updated at least every three years and to be issued through a special decree delegate
by 31 December 2011.
2. If the resulting annuity at retirement is less than or equal to 25% Special
integration of Law 15 of February 25, 1998, as amended, it will be liquidated
the pension benefit in full as a lump sum, in the amount equal to the
accrued individual position, provided that the holder of the benefit has accrued
least one year of contribution at the Separate Account, amounting to 216 contributory days. The amount payable
will be calculated based on the factors established by delegated decree referred to in paragraph which precedes
. 3
. In order to compute fractions of a year in relation to the age of the insured at the time of
retirement, the conversion rate is adjusted by an increase equal to the product
between one twelfth of the difference between the coefficient of transformation
age immediately above, and the age coefficient immediately below that of the insured and the number of
months.
4. For the purposes of a possible aggregation of contribution periods completed in the Fund autonomic
Separate Account with those completed in other categories, the number of daily contributions, by
used for the maturation of the right, consists of the product obtained
multiplying by 18 the number of months and fractions of months for which, in that year, has been cashed out
social security contributions under the law.
5. Contribution periods completed in the Separate Account may be cumulated with other
periods if not overlapping, solely for the purpose of recognition of the date of entitlement to retirement ordinary
.


Art. 7
(Institution Management Residual Self Employed)

1. With effect from 1 January 2012 it has established the category called Residual Management
Self Employed. The burden of ordinary pensions of Craftsmen and Merchants, for the part
exclusively imposed on their pension funds, with effect prior to January 1, 2005, it will be transferred
borne by that class.
2. For the year 2012 the deficit of Residual Management of Autonomous Workers will
financed as follows:
- up to the amount of the share of independent workers, according to findings accounting
Institute for Social Security through a withdrawal from the Common Fund
Risk Reserve;
- To the extent of availability of the Cash Compensation Performance Economical
Temporary Workers Autonomous;
- Any remaining shares through a withdrawal from the State Budget.

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. For years subsequent to 2012 and until the exhaustion of the natural Residual
Self Employed Management, said sums being insufficient in the case of the Funds referred to in this Article, the deficit will be
financed through transfers from the State Budget.


Art. 8
(Definition of the individual position)

1. The individual case is made by the relevant accumulated capital of each member,
and is powered by the contributions paid. Each position will be re-evaluated annually on the basis of specific
table to be updated at least every three years and to be issued through a special decree delegate
by 31 December 2011.

Art 9

(rates Adaptation contribution)

1. A partial amendment of Article 5 of Law 15/1983 and Decree 16 December 2005
188 as of 1 January 2012 the workers compulsorily affiliated to the Pension Fund
Self Employed will be subject to the following rates :

2012 2013 2014 2015 2016 2017 2018 2019
Merchants 22,00% 22,00% 22,00% 22,00% 22,00% 22,00% 22,00% 22,00%
Free || |
professionals 14,50% 16,00% 17,00% 18,00% 19,00% 20,00% 21,00% 22,00% 22,00% 22,00% Craftsmen
22 , 00% 22,00% 22,00% 22,00% 22,00% 22,00% Agents and Brokers
14.50% 16.00% 17.00% 18.00% 19.00% 20 , 00% 21,00% 22,00% 14,50% 16,00%
Entrepreneurs 17,00% 18,00% 19,00% 20,00% 21,00% 22,00%
Separate management 13,00% 13,50% 14,00% 14,50% 15,00% 15,00% 15,00% 15,00%


2. The rate of contribution to the Fund compulsory Pensions paid by the employees, is increased to the extent of 0.30%
with effect from 1 January 2012 for each year
until 2016 according to the following scale:
1 January 2012 contribution by the employee 4.20%
1 January 2013 contribution by the employee 4.50%
1 January 2014, contributions paid by the employee 4.80% || | 1 January 2015 contribution from the employee 5.10%
1 January 2016 contribution by the employee 5.40%


Art. 10
(for levying charges Mode)

1. A partial amendment of the Law 117 of 20 December 1984 and the Decree of 30 December 1985
168, starting from 1 January 2012, for taxpayers belonging to pension funds of
Autonomous Workers and Farm Workers, the calculation of social security contributions related to
period of activity, for the purpose of determining the due payments, is carried out exclusively on the basis of
40% of the minimum income provided. The balance for all funds required provided,
must be paid on the basis of the tax return and the deadlines for the presentation of the same
statement.
2. E 'given the opportunity to taxpayers in the preceding paragraph to pay in installments independently
the amount of the advance payments in monthly payments, to be made prior to

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qualifying period for the initial advance and the second advance of each year. The Institute for
Social Security is obliged to verify the validity of only
payments when due. The calculation of default interest and penalties on any lost, late or partial
contribution payments, is made with maturities scheduled for the first and for the second
payment.


Art.
11 (Adjustment of minimum income)

1. From 1 January 2012 the minimum income for the macro category of Self Employed of which
Article 3 of this law, will be adjusted to the contractual remuneration territorial average of
a percentage of industry workers increased 5%
Article 54 of the Law no.15 / 1983 and subsequent revaluations as well as will be established for 2011. for the following exercises
this amount is re-evaluated in the index of the price based on consumption during the previous
for families of workers and employees announced by the Office of Economic Planning.
2. For categories of Freelancers, Entrepreneurs, representatives and agents for
persons entered the Separate Account is expected the gradual adjustment to income referred to in paragraph
above, according to the following schedule of percentages slaughter, to be calculated
on pay as defined in the preceding paragraph:
Year 2012 killing of 20%
Year 2013 killing of 15%
2014 reduction of 10%
2015 abatement of 5%
Year 2016 adjustment to the salary / income resulting from the application of the provisions of
in the first paragraph of this Article. 3
. For those belonging to the category of Craftsmen the adjustment referred to in paragraph 1 shall take place from 1 January 2012.

4. For members of the Merchants' category is provided for the adjustment referred to in paragraph 1
, the year in which it is to determine a value higher than the minimum income of €
28,000.00 currently in force.
5. For those who embark for the first time an activity falling under the categories
Artisans, Traders, Freelancers, Entrepreneurs and Agents Representatives, where such
subjects aged under 40 years of chronological age at the time of ' login, as well as
as indicated in the preceding paragraphs, there is a reduction of the minimum income for the first three financial years
:
- first year 50%
- Second year 50%
- third year 50% 6
. To self-employed workers who have undertaken the business for less than three years before
entry into force of this Act and which have the characteristics and requirements of
preceding paragraph, is given the opportunity to take advantage of reliefs set out in that paragraph for
residual periods.
7. These provisions repeal the rules laid down in Article 35 of Law 179/2005 and whose
Article 40 of 135/2006 Law.


Art. 12
(retirement retirement age adjustment)

1. With effect from 1 January 2019 for all insured persons, including workers
employees of the public sector, the age required for the maturation of pension rights

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ordinary retirement in Article 2, paragraph 1 a) and b), of the 157/2005 Law is raised
as follows:

January 1, 2019 65 years and 6 months
from 1 January 2021 66 years.


Art.
13 (Repeal incentive)

1. With effect from 1 January 2012 will not be among those beneficiaries of the provisions
referred to in paragraph 2 of Article 7 of the Law n.157 / 2005
employees of the Public Administration and the public sector.
2. The subjects that have been authorized for the incentive enjoyment of which the upper
paragraph prior to 1 January 2012 will retain the right to the date of retirement
.


Art. 14
(Adaptation remuneration or maximum annual income)

1. Remuneration or average annual income in the Decree 19 of February 2, 2005 totaled
€ 42.000,00 will be adjusted with effect from 1 January 2012 and will be re-evaluated based on the index of the recorded consumer price
in the previous year for families of workers and employees announced
Office of Economic Planning.


Art. 15
(Cumulus ordinary pensions)

1. As from 1 January 2012 Article 33 of Law 15 of 11 February 1983 it is repealed and replaced
:
"The survivors of Article 15 of Law 15 of February 11, 1983 are entitled
a benefit to be calculated on the pension payable to the "assignor"
pensioner or insured at the time of death, based on the following percentages:

Number% surviving spouse without% with spouse

1 65 65 2 70 75 3 80 90


5 4 95 100 and over 100 100

Check out the conditions of Article 8 of the Law n.157 / 2005, as amended
Article 16 of this Law, it is subject to the measure of a pension equal to at least
minimum laid down by the provisions in force.
The survivors acquire title to own the right to a pension, which is paid through a single
performance regardless of the number of beneficiaries or the family situation
, except as expressly provided for in Articles 34, third paragraph, 35 third paragraph, and 36
paragraph two of the 15/1983 Law.
Surviving with the right to indirect ordinary retirement or survivor, is already
owner direct ordinary pension, and / or income of any nature and origin
including the value of land rents produced by the immovable property owned and not producing more

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income, excluding the proportionate interest of habitual residence, the percentages mentioned in the first paragraph
are modified in the following bands:
• To direct pension amount of € 1,400.00 the percentage is minus 15 points
share;
• For an amount of direct pension from € 1,400.01 to € 1,700.00 the percentage has decreased the
share of 20 points;
• For an amount of direct pension from € 1,700.01 to € 2,000.00 the percentage has decreased the
share of 25 points;
• For an amount of direct pension from € 2,000.01 to € 2,300.00 the percentage has decreased the
share of 30 points;
• For an amount of direct pension from € 2,300.01 to € 2,600.00 the percentage has decreased the
share of 35 points;
• For an amount of direct pension exceeds € 2,600.00, the percentage has decreased the share
45 points.
The rates in the top table are revalued annually on the same
conditions set out in Article 5 of the Law n.157 / 2005. ".
2. In any case the amount of the total of the ordinary pension can not exceed the limit
provided for in Article 14 of this Law.


Art. 16
(Cumulus State pensions regime)

1. The provisions in the preceding Article shall apply in the following cases:
• ordinary pensioners under 15/1983 Act, as amended, which
mature the right to a survivor's pension under the law 7/1927, as amended by
Article 3 of law 52/1993;
• pensioners granted under the 7/1927 Act, as amended, if
mature the right to survivor's pension or indirect in accordance with Law 11 February 1983 n.
15 and subsequent amendments and additions;
• a direct pension granted under the 7/1927 Act, as amended,
when mature the right to a survivor's pension under the same law.

Art.
17 (Updating of Performance)

1. With effect from 1 January 2012 and exclusively on the contribution periods completed by
this date, the percentage referred to in Article 3 paragraph 1 of Law no. 157/2005, to be applied
amount exceeding 50% of salary or annual monthly average income in the Decree 2 February 2005 n
. 19 and in any case up to the salary ceiling is 0.75%.

2. A partial amendment also the letter a-bis of point 2 of Article 3 of the Law
157/2005, it is determined that the pension calculated on the basis of the maximum percentage calculation
(100%) no it can exceed the average amount of income declared in the previous five years
retirement, if the same is greater than the income declared for the year preceding
at the date of retirement. The number of years referred to in subparagraphs a and a-
bis of point 2 of Article 3 of the 157/2005 Law are high both 20 years old.

Art.
18 (Adjustments to the minimum)

1. From 1 January 2012 the supplement treatment must be requested by the insured
, who must declare not to make use of other pension or benefit

9 continuous
of any kind was paid by the State or by any body of the Social Security
Republic of San Marino or foreign state, other income of any nature or origin, do not have
cadastral income produced by property held and not producing other income,
to the exclusion of the relevant portion of habitual residence, for a total annual amount
equal to or greater than € 2,500.00. This amount is reviewed annually by the same conditions
set out in Article 5 of the Law n.157 / 2005.
2. In the presence of annual revenues exceeding € 2,500.00, if the same, added to the amount of accrued annual pension calculation
, do not exceed the minimum pension amount related to
year, it is recognized to the pensioner the payment of the difference up to the amount of the minimum pension
. 3
. E 'obligation to subject integrated ordinary pensioners the minimum treatment for
which the previously existing provisions have been applied in this context, to present new documentation
attesting to the ownership of the income, for the purposes of
of the provisions of the preceding paragraphs.
4. If the requested documentation is not received within six months after entry into force of this Act
the Institute for Social Security will not give rise to recognition of the right to
any arrears.
5. This Article repeals Article 8 of the Law n.157 / 2005.


Art. 19
(social security equalization fund)

1. As part of the budget estimates for the financial years from 2012 to 2016
will be provided a special allocation to be determined during the approval of the financial statements pertaining
Law of each financial year, the resources of which are intended the support of the pension supplementary
system.
2. Those attending university courses, for the duration of the course
chosen are recognized the institution of complementary pension scheme after payment of a fee to be levied individual
by check routinely the right to study or by
insured deposit and the relative contribution is charged to the equalization
Provident Fund. Special delegated decree will regulate the execution.

Art. 20
(pension calculation mode for the employees of the Public Sector Broader seniority
before January 31, 1983)

1. For employees who are retired, with service seniority in the Public Sector
Broader before 31 January 1983 will benefit from the willing of which
Article 80 letter b) of the Law February 11, 1983 15, for determining
pension amount, for years of service until 31 December 2011,
apply the provisions of the Laws 41/1972 75 / 1976. In relation to the years of service accrued
after 31 December 2011, the pension calculation will be made
exclusively on foot and on salary and seniority, however, until the competition
the ceiling laid down 'Article 14 of this law.

Art.
21 (Adaptation of the pension calculated pursuant to Laws 41/1972 75/1976 with the arrangements laid down
15/1983 Act, as amended)

1. The provisions of Article 5 of the Law n.157 / 2005 are hereby extended until otherwise
disposal regulations.

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2. With effect from 1 January 2015 the pensions calculated in accordance with Articles 82, 83 and 85
Law 41/1972 and Article 6 of 75/1976 Act will be revalued annually on the basis of
provisions envisaged for the normal pension, calculated in accordance with Law 157 of November 8
2005 and subsequent amendments and additions. 3
. The provisions of paragraph 2 of this Article shall also apply to pensions

Paid under the Law of March 8, 1927 7 and subsequent amendments and additions.


Art.
22 (retirement age determination for the compensation paid to former members of the Board
Great and General)

1. Article 1 of Law 20 March 1997 n. 38 is supplemented by the following paragraph 3:
"With effect from 1 January 2012 the monthly fee under Article 1 of the Law
20 March 1997 38, shall be paid according to the following scheme: || | from 1 January 2012 to 30 September 2012 60 years and 6 months
from 1 October 2012 to 30 June 2013 61 years
from 1 July 2013 to 31 March 2014 61 years and 6 months
from 1 April 2014 to 31 December 2014 62 years
from 1 January 2015 to 30 September 2015 62 years and 6 months
from 1 October 2015 to 30 June 2016 63 years
from 1 July 2016 and 31 March 2017 63 years and 6 months
from 1 April 2017 to 31 December 2017 64 years
from 1 January 2018 and 30 September 2018 64 years and 6 months
from 1 October 2018 al 30 June 2019
65 years from 1 July 2019 al 31 March 2020 65 years and 6 months
from 1 April 2020 to 31 December 2020 66 years. ".
2. This compensation is paid to former Board members provided they are not income from pension holders
higher than the roof of Article 14 of this Law. 3
. The surplus, compared to the roof referred to in the previous paragraph, will be deducted from the salary of
Law no. 38/97.


Art.
23 (Method of calculation for pensions under the agreement)

1. As of January 1, 2012 for employees who have completed mandatory contributions is
in the Pensions Fund of the Republic of San Marino, which in the social security system
agreement countries, the basis for calculation of pro rata borne by 'Institute for Social Security,
is accounted for by wages or income earned on such contributions
payments were made in the Republic of San Marino.



Art 24 (Withholding of solidarity)
1. For the implementation of a system of solidarity between pensioners and active workers, with
effect from 1 January 2012, on the ordinary pensions of the gross amount of more than € 1,500.00 per month
withholding "tax is applied to solidarity "for progressive bands. The amount of withholding
is defined according to the following scheme:
• for the total amount of pension, headed by sole proprietor also deriving from
accumulation of pensions, from € 1,500.01 to € 2,000 , 00 the rate on the portion exceeding € 1,500.01 is equal to
2.00%;

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• for the total amount of pension, headed by sole proprietor also deriving from
accumulation of pensions, from € 2,000.01 to € 2,500.00 the rate on the excess of € 2,000.01 is equal
to 2.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 2,500.01 to € 3,000.00 the rate on the excess of € 2,500.01 is equal to
3.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 3,000.01 to € 3,500.00 the rate on the excess of € 3,000.01 is equal to
4.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 3,500.01 to € 4,000.00 the rate on the excess of € 3,500.01 is equal to
5.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 4,000.01 to € 4,500.00 the rate on the excess of € 4,000.01 is equal to
6.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 4,500.01 to € 5,000.00 the rate on the excess of € 4,500.01 is equal to
7.50%;
• for the total amount of pension, headed by sole proprietor also
resulting from accumulation of pensions, from € 5,000.01 to € 5,500.00 the rate on the excess of € 5,000.01 is equal to
8.50%;
• For the total amount of pension, headed by sole proprietor also
resulting from the accumulation of pension, from € 5,500.01 to € 6,000.00 the rate on excess amounts € 5,500.01 | || 9.50%;
• for the total amount of pension, headed by sole proprietor also deriving from
accumulation of pensions exceeding € 6,000.00 the rate on the excess of € 6,000.00 is 10.5%.
2. For the identification of the bands referred to in this article, we proceed to the sum of
pension income with that stated in relation with the employment.
This procedure applies to holders subject of pensions referred to in the previous paragraph who have carried out work activities
with compulsory insurance in the preceding year and on the basis of taxable income inherent

Declared activity. This provision shall take effect from 1 January 2013. 3
. The provisions of paragraph 1 of this Article are also applied on pensions
paid under the Law 8 March 1927 7 and subsequent amendments and additions.
4. By delegated decree the proceeds arising from the application of willing
referred to in this article will be destined for the deductions applied on the ordinary pensions, the Pension Fund Mandatory
Institute for Social Security based on the skills of individual managements,
while withholding applied to the pensions paid under the Act March 8, 1927 7 will be
expected to take transfer to the State Budget.
5. The provisions mentioned in the first paragraph of this article are applied to
performance that will be paid from January 1, 2012 regardless of
vesting date of the law and the date of submission of the pension claim.
6. The pensions exceeding the ceiling laid down in Article 14, for the period from January 1
2012 to 31 December 2016 will be adjusted to the change in consumer prices recorded in the previous year
the families of workers and employees announced by
programming Economica exclusively for the portion of earnings in excess of the roof itself.


Art. 25
(Provisions concerning the suspension of the ordinary retirement)

1. A partial amendment of Article 57 of Law 15 of February 11, 1983, as part
control activity carried out by the Inspectorate Department of the Institute for Social Security or


12 other offices on behalf of the same, if it is established that the beneficiary of retirement to play
work regardless of its length and incompatible with the receipt of the same
, the Institute for Social Security proceed to the suspension of the pension,
notifying the sanction to the person concerned. Suspension shall take effect from the date on which the infringement
audit was conducted. If the certification reports a working
previous situation, the sanction will cover all the established period.
Restoring the pension is subject to verification of severance, and
possession of all the requirements which have led to its recognition, will be made as
earlier than three months the date of suspension of liquidation. For this period
the Institute for Social Security will not recognize the right disbursement of arrears.
2. The payment of the pension is suspended for the duration of one year without the right to
receipt of arrears for that period in respect of pensioners who, during the two years following the first suspension
, fall again in a position to
in the first paragraph. 3
. In case of repeated offense, detected after the two-year period referred to in paragraph
apply the sanctions set out in that paragraph.
4. An appeal against the sanctions provided for in this article you can advance
appeal under Article 60 of 15/1983, as amended Act.


Art. 26
(Social pensions)

1. Article 23 of Law 15 of February 11, 1983 is amended as follows:

"Art.23
(Social pensions)

The subject is a resident by birth who actually at least ten years in
territory of the Republic of San Marino, the social pension is recognized provided that:
a) does not enjoy any self-employment income and employed;
B) is free of other income of any nature or origin of the amount equal to or greater
amount of that pension, excluding optional pensions and / or complementary.
For the purposes of determining the individual income is also understood the value of annuities cadastral
produced by the properties held and not producing other income, such
exclusion of the relevant portion of habitual residence;
C) is the holder or joint license or armies or is not enrolled in the lists of taxpayers as a freelancer
, agent and representative, in writing or in any capacity in the
Separate Account;
D) has completed the age laid down in Article 8 of this Act, or at any age, if recognized
incapacitated for the performance of any work activity.
Are considered incapacitated in accordance with this law the person referred to in Article 13 paragraph 2
d) of 15/1983 Act and therefore those for which it is ascertained by the Institute for Security || | Social a decrease in the working capacity of at least 65%.

If the amount of income referred to the upper point b) above is lower than the social pension
, it gives rise to the balance until the amount of the pension
same.
No matter how established the upper b) point a check is paid to integrative
entities meeting the requirements referred to in point d) where the spouse, parents or children living
not carry out activities subject to compulsory insurance and are not
ordinary pensioners paid by any social security body or income of any nature
amount equal to or greater than the minimum current treatment at the Institute for Social Security.

13
If the amount of pension or income above is lower than the minimum
law, the supplementary allowance is paid to adjustment. In this case, the supplementary allowance is
liquidated for an amount such that the conventional family mentioned in the preceding paragraph is
guaranteed monthly total revenue equal to the sum of the minimum pension of
'Institute for social Security and of the social pension.
The provisions of the preceding paragraphs shall also apply to welfare recipients and
economic supplementary allowance in place the entry into force of this Act.
The assessment of the conditions specified in the second paragraph of this article is delegated to
Medical Commissions set forth in Article 61.
The assessment of the conditions provided for in this Article is carried out by the Institute || | for Social Security that may access to databases held by the Broader Public Sector
, subject to the restrictions provided by law. ".
2. The subjects that the entry into force of this law are already retired social
holders, are obliged, within the period of six months, to present all the necessary documents
to ascertain the conditions required by this Article . After the period prescribed above
, the Institute for Social Security, proceed to the suspension of the social pension
. The presentation of the documentation certifying the requirements, within 90 days from the suspension
, will involve restoring the pension is; otherwise it
will proceed to revoke the same.


Art. 27
(Special Integration amount of the pension)

1. Article 4 of Law 15 of February 25, 1998 is amended as follows:
"Art.4


Since January 1, 2012 to holders of ordinary pension and the supplementary allowance holders
financial need, provided in accordance with Law 15 of February 11, 1983 and subsequent amendments and additions
, and to holders of steady state pension paid under Law
March 8, 1927 7, is paid a special supplement to the amount of the pension when the same owners
:
a) are by birth and actually resident in the territory the Republic of San Marino
;
B) results either from the family record book that actually live alone.
The special supplement is paid to all those who enjoy incomes below the
sum from the date of the minimum pension, as calculated in accordance with Article 51 of the Law
February 11, 1983 # 15 , with 25% of the value of the social pension.
Notwithstanding the provision of paragraph b) of the first paragraph, the special supplement is
also delivered to holders of one of the first paragraph of that pension, in the event that they are leaders
Family with sun dependents for which prove beneficiaries of family allowance provided that the
total income, including family allowance, does not exceed the amount determined in accordance with the preceding paragraph
.
The special integration monthly amount is equal to the difference between all income received,
including the value of land rents produced by the property held and not producing
other income, excluding the share of relevance of usual residence and the amount determined
under the previous paragraph.
The entitlement to the special runs from the 1st day of the month following that of submission of the application
.
The special supplement is paid for 13 months a year.

14
The provisions of the preceding paragraphs shall also apply to holders of integration Special
amount of the pension in place the entry into force of this Act.
The assessment of the conditions provided for in this Article is carried out by the Institute for Social Security
who is entitled to access to databases held by the Public Sector

Broader, subject to the restrictions provided by law. ".
2. The subjects that the entry into force of this law are already special supplemental grant holders
, is obliged, within a period of six months, to present all
documentation necessary to establish the conditions required by this Article.
Unnecessarily spent the term stipulated above, the Institute for Social Security, will proceed to suspend disbursement
special additional benefit. The presentation of the documentation attesting
the requirements, within 90 days from the suspension, will result in the restoration of the check disbursement
Special supplement; if not, it will proceed to revoke it.


Art.
28 (Documents for the application for annuities performance)

1. Notwithstanding the provisions of the last paragraph of Article 3 of Law 21 October 1988
105, is given the opportunity to applicants annuities performance, of any nature provided by the Institute for
Social Security, the document the demographic findings by self-certification.
The declaration is made using the form prepared by the Institute for Social Security
, pursuant to Article 67 of Law 42 of December 22, 1955, exempt from stamp duty.


Art.
29 (Segregation of Assets of Pension Funds)

1. The assets referred to the "Provision for Pensions Fund Management"
as provided by Article 19 of Law 156/1990, as amended, and the assets of the Fund reported
of the establishing supplementary pension called "FONDISS"
guarded or detained at a custodian bank or other investment firm on behalf and on behalf of pension funds mentioned above
not covered by the bankruptcy estate in the event of failure of the Bank or company's investment
, but will be segregated in favor of the pension fund, with reserves of satisfaction of all
any claims of the Bank or investment company in respect of the Fund.
2. If the bank or investment firm in bankruptcy holds a deposit with third parties concerning
provisions of the Management Board and referred to upper paragraph, it is assumed that the
portfolio assets of the Funds are owned Pension and will be segregated according
as specified in the preceding paragraph.

Art.
30 (Sanctions)

1. Defaults to the provisions of this Act are subject to penalties as fines
Annex "H" of the Delegate Decree 180 of December 30, 2009 and subsequent
changes, and, if this can be justified, the sanctions provided for in Article 47 of Law 135 of
/ 2006.

Art.
31 (Consolidated)

1. In order to simplify the complex legislation on social security,
within one year after the entry into force of this Act, will set up a Consolidated by ordinary law.

15
This measure will be to harmonize provisions in force, to repeal the laws in
opposed to the entire social security system and updating the actuarial tables attached to
law 11 February 1983 n.15. The same measure could regulate the setting up of a roof
to pension benefits, making the appropriate changes to Article 14 and Article 17 of this Law
.
2. The Consolidation Act will also govern other forms of intervention that consider the
pension contributions not only as a form of savings deferred but also as a form of welfare
to protect the elderly and to guarantee sufficient income, which is based on solidarity
not only between generations but also between high and low incomes and has the goal of making more robust the
mechanism of breakdown and maintain the financial balance. 3
. The same measure will change the coefficients referred to Chief Executive Decree n.75 / 2008, the
order to limit the burden on those exercising the right of redemption of the years of graduation.


Art.
32 (Entry into force)

1. This Law shall enter into force on the fifteenth day following that of its legal publication
.



Our Residence, this day of October 5 2011/1711 dFR



THE CAPTAINS REGENT
Gabriele Gatti - Matteo Fiorini







THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta