The State Pension Insurance Act (statements of the Mejlis of Turkmenistan, 2012, no. 1, art. 38) (with amendments and additions as the Turkmenistan law dated 18.12.2013, no. 461-IV, 16.08.2014, no. 113-V, and 18.08.2015 No. 280-V) the present law defines legal, economic and organizational bases for the establishment and functioning of the State pension insurance system in Turkmenistan.
 
Chapter i. General provisions article 1. 1 concepts. In this Act, the following basic concepts are used: 1) State pension insurance system the legal, economic and organizational measures aimed at the social protection of citizens when they reach retirement age, in case of disability, loss of breadwinner, temporary disability;
2) self-employed persons-persons with one or more business partners engaged in income-generating activities, without hiring workers on a permanent basis. In this case, all partners are self-employed persons. Business partners may be not be members of the same family or the same household;
3) pension contributions-contributions paid for compulsory pension insurance, compulsory professional pension insurance and voluntary pension insurance;
4) the budget of the Pension Fund of Turkmenistan-form education and spending money intended for financial security objectives and functions of the Pension Fund of Turkmenistan.
2. In this Act, other concepts used in the values of certain civil and other laws of Turkmenistan, as well as the relevant articles of this law.
 
Article 2. Turkmen legislation on the State Pension Insurance Act 1. The legislation of Turkmenistan on State pension insurance is based on the Constitution and consists of this law and other normative legal acts of Turkmenistan on State pension insurance.
2. If an international treaty to which Turkmenistan stipulates other rules than those stipulated by this law, the rules of the international treaty shall apply.
 
CHAPTER II. PARTICIPANTS in LEGAL RELATIONS on PUBLIC PENSION INSURANCE, Article 3. Types of State pension insurance State pension insurance includes compulsory pension insurance, compulsory professional pension insurance, as well as voluntary pension insurance on the basis of voluntary pension insurance contract signed between a natural person and the Pension Fund of Turkmenistan: 1) compulsory pension insurance system of legal, economic and organizational measures aimed at State pension the insured upon occurrence of an insured event due to pension contributions for compulsory pension insurance paid by insured persons to the Pension Fund in accordance with this law;
2) compulsory professional pension insurance is a system of legal, economic and organizational measures aimed at State pension the insured upon occurrence of an insured event is the retirement age for seniority or job with special (hazardous, particularly heavy) working conditions at the expense of pension contributions for compulsory pension insurance and compulsory professional pension insurance paid by the insured in the Pension Fund budget of Turkmenistan in accordance with this law;
3) voluntary pension insurance-system the legal, economic and organizational measures aimed at the State additional pension benefits insured persons at the expense of pension contributions paid under a contract of voluntary pension insurance.
 
Article 4. The subjects of the State pension insurance Entities of State pension insurance are authorized State bodies on public pension insurance, the insurer, the policyholder and the insured person.
 
Article 5. Insurer insurer in the State pension insurance system is the Pension Fund of Turkmenistan and its local bodies performing before the insured obligations, stipulated by the legislation of Turkmenistan on State pension insurance.
 
Article 6. The policyholder 1. Insured for compulsory pension insurance are: 1) legal persons established in Turkmenistan, in accordance with the legislation of Turkmenistan, including the State body authorized by the Cabinet of Ministers of Turkmenistan, as well as representative offices and branches of legal entities of foreign States, registered in Turkmenistan;
2) diplomatic missions, consular institutions of foreign countries, representatives of international organizations located in Turkmenistan, if these are Turkmen citizens permanently residing in Turkmenistan of foreign nationals and stateless persons;
3) natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs, natural persons carrying out activities for the provision of professional services.

Professional services include independent kinds of professional services established by the tax laws of Turkmenistan;
4) physical persons-employers using hired labour or labour of domestic workers, as well as persons conducting agricultural production on the basis of on-farm lease with dajhanskimi associations (hereinafter referred to as the tenants), including using hired labor in agricultural production;
5) self-employed persons with income.
2. the following compulsory pension insurance policyholders are insured for compulsory professional pension insurance: 1) the bodies of the armed forces of Turkmenistan, other troops, military and internal affairs bodies;
2) legal persons having in their sub-unit of the State and (or) civil aviation;
3) legal persons having jobs with special (hazardous, particularly heavy) working conditions.
3. the State body authorized by the Cabinet of Ministers of Turkmenistan, is insured for the persons specified in paragraphs 7-10 of part 2 of article 7 of this law, in certain periods, as well as persons working in public organizations of persons with disabilities, their enterprises and establishments, with the exception of receiving State benefit (pension).
 
Article 7. Insured person 1. Turkmen citizens permanently residing in Turkmenistan, foreign citizens and stateless persons are covered by the State pension insurance in accordance with this clause, are insured.
2. Compulsory pension insurance shall be: 1) persons employed (employees) at enterprises, organizations, institutions established in accordance with the legislation of Turkmenistan, in offices and branches of foreign legal entities of States registered in Turkmenistan;
2) Turkmen citizens, foreign citizens and stateless persons permanently residing in Turkmenistan, working in diplomatic missions and consular offices of foreign States, representative offices of international organizations in Turkmenistan;
3) natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs and those working with them, individuals involved in providing professional services;
4) tenants and persons who with them in labour relations;
5) self-employed persons with income;
6) persons working for employers-individuals using hired labour or labour of domestic workers;
7) persons who complete military service conscripts, as well as studying in higher military educational institutions;
8) broken face, caring for a disabled person in Group I or for a disabled child up to the age of 16 years (for a period of not more than 6 years);
9) the spouse of the employee of a diplomatic mission, consular institutions of Turkmenistan in a foreign State, an international organization with the Mission of Turkmenistan and persons assimilated to such worker (resident (s) with him, not trudoustroennaâ (St)-for a period of not more than 4 years);
10) persons on maternity leave (for a period of not more than 6 years).
3. the total duration of pension on grounds specified in paragraphs 7-10 of part two of this article, shall be not more than 10 years to one person.
4. the following persons are subject to compulsory pension insurance at the same time and compulsory professional pension insurance: 1), troops of the Armed forces of Turkmenistan, other troops and military authorities;
2) faces of ordinary, non-commissioned officers and officers of the internal affairs agencies;
3) faces flying and flight-test composition, parachutists, bortoperatory and flight attendants of the State and civil aviation;
4) persons employed on a full-time basis to work with special (hazardous, particularly heavy) working conditions.
5. The persons referred to in paragraphs 3-6 of part two of this article cease participation in the obligatory pension insurance in cases of appointment to them: 1) old-age pension;
2) pensions or public disability benefits if they are found to be disabled indefinitely.
6. Persons specified in part 2 of this article may also be insured on a voluntary pension insurance.
 
Article 8. Insurance risk and insurance in case 1. Insurance risk for the purposes of this Act, admits the loss of the insured person's wages or other income sources in connection with the insured event.
2. The insured event shall be recognized for the purposes of this law, the attainment of retirement age set by the legislation of Turkmenistan, the onset of disability, loss of breadwinner, temporary disability in cases stipulated by the legislation of Turkmenistan.
 
Article 9. Statement on registration and removal from accounting policyholders 1. Insurers are subject to registration of accounting as payers of contributions in the body of the Pension Fund of Turkmenistan on their location.
2. Pension Fund of Turkmenistan conducts the State Register of insured pension contribution payers and is the holder of the register.

3. statement on accounting and retired accounting by policyholders are produced in a manner approved the Ministry of labour and social protection of the population of Turkmenistan in agreement with the Ministry of economy and development of Turkmenistan and the main state tax service of Turkmenistan.
 
Article 10. The obligation of banks associated with providing information to local authorities Pension Fund of Turkmenistan Banks located on the territory of Turkmenistan, shall declare to the authority of the Pension Fund of Turkmenistan on the location of the Bank about opening or closing the current account of legal entities and natural persons referred to in the first paragraph of article 6 of this Act, not later than the day following the day of opening or closing such account.
 
CHAPTER III. The State management in the FIELD of STATE PENSION INSURANCE Article 11. State administration bodies in the field of State pension insurance 1. The State management in the field of State pension insurance carry out the Cabinet of Ministers of Turkmenistan and authorized State bodies on the State pension insurance.
2. the Ministry of labour and social protection of the population of Turkmenistan, the Turkmen pension fund under the Ministry of labour and social protection of the population of Turkmenistan (hereinafter Pension Fund) and their local authorities are public authorities on State pension insurance.
3. The public authorities referred to in paragraph 2 of this article, the legal relations in the State pension insurance act within their terms of reference, specific legislation of Turkmenistan.
 
Article 12. The powers of the Cabinet of Ministers of Turkmenistan in the area of State pension insurance, the Cabinet of Ministers of Turkmenistan in the area of State pension insurance: 1) defines the main directions of State policy;
2) approve state programs and oversees their implementation;
3) take other decisions on matters of State pension insurance.
 
Article 13. Powers of the Ministry of labour and social protection of the population of Turkmenistan in the area of State pension insurance Ministry of labour and social protection of the population of Turkmenistan in the area of State pension insurance: 1) monitors the implementation of public policies;
2) drafts of public programmes and submit them to the Cabinet of Ministers of Turkmenistan for approval;
3) monitors the activities of the Pension Fund of Turkmenistan;
4) participates in the development of projects of normative legal acts;
5) participates in the preparation of proposals on the rates of pension contributions;
6) carries out other functions within its mandate.
 
Article 14. Rights, obligations and liabilities of the Pension Fund of Turkmenistan in the area of State pension insurance rights, obligations and liabilities of the Pension Fund of Turkmenistan in the area of State pension insurance shall be established in the regulation of the Pension Fund of Turkmenistan.
 
CHAPTER IV. The rights and duties of SUBJECTS of STATE PENSION INSURANCE Article 15. Rights and obligations of the insured in the public pension scheme 1. The policyholder shall have the right: 1) to receive free information from the insurer of pension contributions paid for the benefit of the insured persons and other information on pension insurance;
2) to contribute to the Pension Fund of Turkmenistan proposals on improvement of the system of State pension insurance;
3) pension insurance contracts in accordance with article 17 of this law;
4) refer to the insurer and to the courts for protection of the legitimate interests and rights to pension insurance, in the manner prescribed by the legislation of Turkmenistan.
2. the policyholder is obliged to: 1) stand on mandatory registration as payer of pension contributions to the body of the Pension Fund of Turkmenistan at the place of their location;
2) to pay promptly and in full pension contributions to the Pension Fund of Turkmenistan and at the same time represent the local authority Pension Fund of Turkmenistan fish caught information on insured persons and their pension contributions, assessed and maintain payments of pension contributions;
3) to provide the necessary documents to the authority of the Pension Fund of Turkmenistan at the location for the conduct of personal retirement accounts insured and pension;
4) fix the deadlines of infringement of the legislation of Turkmenistan in the area of pension insurance, identified in the order in which controls Turkmenistan's pension fund and other competent public authorities, timely and fully pay the amount of financial sanctions and penalties;
5) available free of charge to the insured person at his treatment on its information on pension contributions paid;
6) report in the body of the Pension Fund of Turkmenistan by location: a) adopted in accordance with the established procedure decision on its liquidation (Reorganization) within three working days from the date of adoption of the decision;
b) about a change of constituent documents and account details within five business days of making the change.

3. Insured persons may have different rights and incur other obligations in accordance with the legislation of Turkmenistan.
 
Article 16. The rights and obligations of insured persons 1. Insured persons have the right: 1) to receive information from the insured on calculation and payment of pension contributions to pension insurance;
2) on social, including pension, provision upon occurrence of an insured event;
3 pensions) obtain a cumulative pension system in accordance with the legislation of Turkmenistan;
4) go to court to protect their rights under the pension insurance, in the manner prescribed by the legislation of Turkmenistan.
2. insured persons are obliged to: 1) report to the policyholder and (or) the insurer about changes to your personal information;
2) to abide by the terms and conditions stipulated in the contract on pension insurance, concluded with the insurer.
 
Article 17. Pension insurance contract 1. Compulsory pension insurance contract is concluded in writing between the insurers, referred to in paragraph 3 (with the exception of natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs) and paragraph 5 of article 6 of this law and the local authority Pension Fund of Turkmenistan.
2. voluntary pension insurance Contract is concluded in writing between a natural person and the local authority Pension Fund of Turkmenistan.
3. the local authority Pension Fund of Turkmenistan up to the conclusion of contracts stipulated by parts one and two of this article, is obligated to familiarize strahuemoe face and the policyholder with the terms and conditions of pension insurance.
4. form of pension insurance contracts pension fund is established.
 
Article 18. The content of the contract of insurance 1. In the pension insurance contract shall contain the following: 1) the name of the local authority Pension Fund of Turkmenistan, its location (legal address), bank details;
2) surname, name, patronymic, passport data (or alternate), address of permanent residence of the insured person;
3) kind of pension insurance;
4) insured event;
5) place of employment of the insured person (voluntary pension insurance);
6) coded contract number (encoded personal retirement account) of the insured person;
7) pension contribution size, order and payment;
8) the rights, duties and responsibilities of the parties;
9) the period of validity of the contract;
10) procedure for contract modification, cancellation of the contract.
2. The contract may stipulate other conditions in accordance with the legislation of Turkmenistan.
 
Chapter V. BASE For CALCULATING PENSION CONTRIBUTIONS. Calculation and PAYMENT of PENSION CONTRIBUTIONS, article 19. Basis for calculating pension contributions 1. The basis for calculating pension contributions for compulsory pension insurance are: 1) to the persons referred to in paragraphs 1, 2, as well as persons working at individual entrepreneurs, referred to in paragraph 3 of part 2 of article 7 of this law, wages and other benefits (in cash and in kind) paid by individuals on the basis of employment contracts and agreements civil legislation on execution of works and services (except payments individual entrepreneurs) , the obligation of military service for copyright and licensing contracts, including:-monetary compensation for unused holidays;
-average wage for the period of employment in accordance with the labor laws of Turkmenistan;
2) for natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs (with the exception of persons working for them), and individuals carrying out activities in professional services referred to in paragraph 3, persons in an employment relationship with the tenants, referred to in paragraph 4, the self-employed with income referred to in paragraph 5, those working for employers-individuals using hired labour or labour of domestic workers referred to in paragraph 6, as well as in certain periods-for individuals, referred to in paragraphs 7-10 of part 2 of article 7 of this law, the minimum wage established by the Turkmenistan legislation of Turkmenistan;
3) for tenants, referred to in paragraph 4 of part 2 of article 7 of this law, is net income. The maximum size of net income received for the purpose of calculating pension contributions should not exceed six-time minimum wage in Turkmenistan, established by the legislation of Turkmenistan.
2. the basis for calculating pension contributions for compulsory professional pension insurance is wages, including monetary compensation for unused vacation, persons employed (employees) to works (services) eligibility for occupational pension.
3. the basis for calculating pension contributions to voluntary pension insurance are payments referred to in paragraph 1 of this article.
4. the basis for calculating pension contributions are not included: 1) State allowance in accordance with the legislation of Turkmenistan;
2) compensation payments within the norms established by the legislation of Turkmenistan: a) compensation (injury), caused to life and health of a worker in the performance of employment duties;

b) provide free accommodation and utilities, food and fuel products, or appropriate monetary compensation;
in) financial assistance given in kind or monetary compensation;
g) payment for meals, sports equipment, equipment, sports and parade uniform, received athletes and employees of sports organizations for the training process and participation in sports competitions;
d) severance pay payable in accordance with the labor laws of Turkmenistan;
e) travel costs, field allowance, payment of mission subsistence allowance in return, when you are working shifts, the amount of allowances to the wage rate (salary) when rolling and (or) want the nature of the work;
f) reimbursement of expenses and other compensation in connection with the transfer, reception or direction to work in another locality;
w) compensation for material damage or injury (harm), life and health, caused as a result of natural disasters or other emergencies;
and) the insurance indemnity on compulsory (State) health and life insurance, in accordance with the legislation of Turkmenistan;
the cost of travel benefits) provided by the legislation of Turkmenistan for some categories of workers;
3) supplements to wages for State awards and honorary titles of Turkmenistan;
4) one-time cash awards, prizes;
5) sum of lumpsum material aid issued by employers;
6) payments to family members of a deceased worker, or the worker in connection with the death of a member of his family;
7) the cost of uniforms and uniforms issued to employees free of charge or with partial pay and personal constant use;
8) lump-sum incentive nature (including products) not covered by labour and (or) collective agreement and non-payment of wages.
5. in determining the base for calculating pension contributions: 1) payment made in kind, into their cash on the date of payment, determined on the basis of prices regulated by the State, and in the absence of such, on the basis of market prices;
2) if the insured person who is employed on the main place of work full-time, have additional income from business activities, agricultural production or activity as a self-employed person, the income from it can be disregarded.
 
Article 20. Rates for calculating pension contributions to pension insurance 1. For the calculation and payment of contributions for compulsory pension insurance rates are as follows: 1) 20 per cent of the base for calculation of pension contributions, defined in accordance with paragraph 1 of article 19 of this law: (a)) legal entities established in accordance with the legislation of Turkmenistan (including private associations in respect of persons working in them according to the schedule of positions), and branches of legal entities of foreign States registered in Turkmenistan-on every natural person working at them;
b) public authority, authorized by the Cabinet of Ministers of Turkmenistan-on every natural person working in public organizations of persons with disabilities, their enterprises and establishments, with the exception of receiving State benefits (pensions) the disability;
in) to diplomatic missions, consular offices of foreign States, missions of international organizations in Turkmenistan, to every natural person working for them, of the number of Turkmen citizens permanently residing in Turkmenistan of foreign nationals and stateless persons;
g) businessmen without formation(education) of the legal person-to every natural person working at them;
2) for natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs and natural persons carrying out activities in professional services, to: (a) gross income) for the reporting period of less than five times the minimum wage established by the legislation of Turkmenistan Turkmenistan, at a rate of not less than 15 per cent of the minimum wage established by the legislation of Turkmenistan Turkmenistan, for each month of the accounting period;
(b) whose gross income) for the reporting period is five times the size, and more, but less than the minimum wage trinadcatikratnogo in Turkmenistan, established by the legislation of Turkmenistan, at a rate of not less than 30 per cent of the minimum wage established by the legislation of Turkmenistan Turkmenistan, for each month of the accounting period;
ç) whose gross income for the reporting period amounts to trinadcatikratnyj size, and more, but less than 20 minimum wages established by the legislation of Turkmenistan Turkmenistan, at a rate of not less than 50 per cent of the minimum wage established by the legislation of Turkmenistan Turkmenistan, for each month of the accounting period;

d) size gross income which is 20 times during the reporting period, and more than the minimum wage established by the legislation of Turkmenistan Turkmenistan, at a rate of not less than 80 per cent of the minimum wage established by the legislation of Turkmenistan Turkmenistan, for each month of the accounting period;
3) for tenants, referred to in paragraph 4 of part 2 of article 7 of this law, in itself of at least 10 per cent of net income for the reporting period. The size of the net revenue received for the purpose of calculating pension contributions must not exceed the maximum size of the net revenue received for the purpose of calculating pension contributions established by paragraph 3 of article 19 of this law;
4) 10 per cent of the minimum wage established by the legislation of Turkmenistan Turkmenistan: a) for tenants, referred to in paragraph 4 of part 2 of article 7 of this law, for every natural person who with them in labour relations;
b) for self-employed persons with income, pension insurance contract concluded with the local authority Pension Fund;
ç) for employers-individuals using hired labour or labour of domestic workers-to every natural person working at them;
(d)) on the public authority, authorized by the Cabinet of Ministers of Turkmenistan, to persons referred to in paragraphs 7-10 of part 2 of article 7 of this law, in certain periods.
2. Insured persons specified in the second part of article 6 of this Act, establishes an additional pension contribution for compulsory professional pension insurance at the rate of 3.5 per cent from the base, calculated in accordance with paragraph 2 of article 19 of this law.
3. in particular cases, the Act of the President of Turkmenistan for some categories of policyholders can be established for the calculation of the reduced rates of contributions for compulsory pension insurance with the definition source covering the difference between the amount of pension contributions, calculated at the rate established by this law, and their amount on a reduced rate.
4. pension contributions to voluntary pension insurance shall be established in the amount of not less than two per cent of the wage (income).
 
Article 21. Pension contribution Declaration 1. Declaration of pension contributions is a form of reporting for the calculation and payment of pension contributions provided by the insured in the local authority Pension Fund of Turkmenistan during the reporting period.
2. Otčëtnym period for insured persons referred to in paragraphs 1 and 2 of the first paragraph of article 6 of this law, as well as for insured persons are natural persons carrying out business activity without establishment of legal entity, individual entrepreneurs, for persons working in them, is one calendar month.
Declaration for this period is not later than 20th day of the month following the month of otčëtnym.
3. Otčëtnym period for policyholders-natural persons carrying out business activity without establishment of legal entity-individual entrepreneurs, for yourself, for insured persons-individuals working for professional services, for insured persons referred to in paragraphs 4-5 of the first paragraph of article 6 of the present law, except for tenants is the period from 1 January to 30 June and from 1 July to 31 December of each year.
Declaration for these periods is not later than 15 of the second month following the otčëtnym period.
4. Otčëtnym period for insured persons-leasers, referred to in paragraph 4 of article 6 of this law, is the period corresponding to the season of agricultural production, but no less than once a year.
Declaration for this period is not later than 15 of the second month following the otčëtnym period.
5. the form of the Declaration of pension contributions and fill her order approved by the Ministry of labour and social protection of the population of Turkmenistan in agreement with the Ministry of Finance of Turkmenistan.
 
Article 22. Calculation of pension contributions pension contributions Amounts calculated by the insured themselves, on the basis of pension contributions and base rates set respectively in articles 19 and 20 of this Act.
 
Article 23. Payment of contributions 1. Insured persons referred to in article 6 of this law, are payers of contributions.
2. Insured persons referred to in paragraphs 1 and 2 of the first paragraph of article 6 of this law, as well as insurers-physical persons carrying out business activity without establishment of legal entity-individual entrepreneurs for persons working with them, at the same time as the local authority Pension Fund of Turkmenistan in the list of insured persons and information about the amount of their pension contributions shall pay the total amount of pension contributions by insured persons.
3. Insured persons referred to in paragraphs 1 and 2 of the first paragraph of article 6 of this law, as well as insurers-physical persons carrying out business activity without establishment of legal entity-individual entrepreneurs-for persons working in them, are required to pay pension contributions monthly, not later than the date of receipt of cash from the Bank for the payment of wages or salary transfer to the bank account of the citizens.

4. Insured persons-individuals carrying out business activity without establishment of legal entity-individual entrepreneurs-on themselves, insurers-physical persons carrying out activities on professional services, insured persons referred to in paragraphs 4-5 of the first paragraph of article 6 of this Act, are required to pay pension contributions at the time of submission of the Declaration to the local authority Pension Fund of Turkmenistan.
5. The insured shall pay the pension contributions in national currency through banks: 1) referred to in paragraphs 1-3 of the first paragraph of article 6 of this Act (except the State body authorized by the Cabinet of Ministers of Turkmenistan), at its own expense;
2) State authority empowered by the Cabinet of Ministers of Turkmenistan to persons referred to in paragraph 3 of article 6 of this law, at the expense of the State budget of Turkmenistan;
3) referred to in paragraph 4 of the first paragraph of article 6 of this law, at its own expense. While tenants pay pension contributions through appropriate peasant associations;
4) specified in paragraph 5 of the first paragraph of article 6 of this law, at the expense of their own income.
 
Article 24. Payment of pension contributions and the Elimination of legal persons 1. The obligation to pay the pension contributions of the legal person being liquidated insured performed by the liquidation Commission due to its funds, including those obtained from the sale of property belonging to him.
2. If the funds of the legal person being liquidated, including after the sale of its property, is not sufficient for the payment of pension contributions, the remaining debt should be performed by the founders of (or participants in) the legal person, if in accordance with the legislation of Turkmenistan or the founding documents they are responsible for its obligations.
3. the debt remaining after the execution of founders (participants) of its obligations towards a likvidiruemomu entity recognized hopeless debts.
4. the obligation to pay the pension contributions of the legal person being liquidated shall be executed no later than two months after the commencement of liquidation procedures. Pension Fund of Turkmenistan if warranted may extend that period of time, but not more than one month.
5. This article shall apply with respect to financial sanctions and penalties.
 


Article 25. Payment of pension contributions when the reorganization of a legal entity 1. Payment of pension contributions to pension insurance of employees, payable by the policyholder's legal person subject to reorganization, rests on its successor.

2. when changing the organizational-legal form of legal entity assignee to pay pension contributions recognized legal entity resulting from the reorganization.
3. When merging several legal persons, of their legal successor to pay pension contributions recognized legal entity resulting from the merger.
4. When you attach one legal entity to another entity for their successor to pay pension contributions is recognized as a legal person, to which it was attached.
5. If a legal person, its successors to pay pension contributions are recognized as legal persons arising as a result of this separation.
6. This article shall apply with respect to financial sanctions and penalties.
 
Article 26. Payment of arrears of pension contributions in the event of the death of the physical person-the employer 1. Arrears in pension contributions for individuals working at the physical person-the employer, in the case of his death rests with the successor (successors) and must be paid within six months from the date of receipt of an inheritance.
2. If the deceased individual employer, there are several heirs, they pay the debts of the testator on pension contributions in amounts proportional to their share of the inheritance.
3. the local authority Pension Fund of Turkmenistan when it receives information of the death of an individual employer who was in arrears in the payment of pension contributions, within five calendar days is to declare the notary institution in place of opening of the inheritance on presentation of requirements to the heir (heirs of) debt of the deceased.
4. The notary institution in place of opening of the inheritance is obliged to inform the heir (heirs) of the testator's debts have available on pension contributions and the obligation of successor (successors) for its payment.
5. In the absence of a successor (successors) or successor (successors) refusal to accept the inheritance of the deceased individual employer to repay its arrears on pension contributions is carried out at the expense of the property belonging to him, which may be levied in accordance with the legislation of Turkmenistan.
If the income from the sale of property in satisfaction of the requirements for the debts in accordance with očerëdnost′û, stipulated by the legislation of Turkmenistan, would not be sufficient to repay the arrears of pension contributions, arrears to the portion exceeding the value of the specified property is recognized as hopeless debts.
6. Debt on financial sanctions and penalties of the deceased individual employer admits hopeless debts.  
 

Article 27. Payment of pension contributions for missing or disabled natural person 1. Obligation to pay pension contributions for an individual recognized by the Court incompetent or missing, as well as financial sanctions and penalties on the day of acceptance of the physical person so executed by the person authorized to dispose of property missing or incapacitated person, due to this property.
Unpaid amount of pension contributions and the financial sanctions and fines must be paid not later than three months from the date of appointment of the person authorized to dispose of property missing or incapacitated individual.
The local authority Pension Fund of Turkmenistan in five-day's term from the date of receipt of the information on the recognition of the physical person incompetent or missing must report to the person entitled to dispose of the property of that person, of the possession of such person on pension contributions and debt amounts outstanding of financial sanctions and penalties.
2. Arrears of pension contributions, financial sanctions and penalties missing or incapacitated person in case of insufficiency of the property of that person for the performance of his obligations to pension contributions, payment of financial sanctions and fines in the portion exceeding the value of the specified property is recognized as hopeless debts.
3. the Court, upon written request of the local authority Pension Fund of Turkmenistan informs him of the decision on the recognition of the physical person incompetent or missing.
 
Article 28. Repayment of pension contributions recognized hopeless 1. Repayment of debt insured by pension contributions insured persons recognized as hopeless in accordance with this law, shall be carried out at the expense of the Pension Fund of Turkmenistan on the basis of a decision of his reign.
2. The amount of debt insured by financial sanctions and penalties recognized by hopeless in accordance with articles 24, 26, 27, is eligible for cancellation under the decision of the Board of the Pension Fund of Turkmenistan.
3. Turkmenistan's pension fund Paid the arrears of pension contributions missing or incapacitated individual in case of adoption in accordance with the established procedure decision to cancel recognition of the physical person as such from the day when such decision is restored.
 
CHAPTER VI. The ENFORCEMENT of the OBLIGATION to PAY the PENSION CONTRIBUTIONS, article 29. The enforcement of the obligation to pay the pension contributions 1. Fulfilment of the obligation to pay the pension contribution is provided by the following measures: 1) exposure to the Bank without payment of the claim;
2) suspension of transactions on bank accounts;
3) a ban on the right to dispose of property with subsequent foreclosure on the property;
4) penalty.
2. these measures (excluding penalties) can be used to enforce payment of the imposed financial sanctions and calculated fines.
 
Article 30. Exposure to the Bank without payment demands to levy contributions through invoicing to the Bank without payment requirements is carried out by the local authority Pension Fund of Turkmenistan if the policyholder fails to pay within the prescribed time-limits pension contributions payable.
Payment requirement in the bank where the insured accounts, after the expiry of the duration of the obligation to pay the pension contributions.
 
Article 31. Suspension of operations on accounts in Bank 1. Suspension of operations of bank accounts is a measure limiting the right of the policyholder to use funds in its bank accounts or entering into these accounts, as well as to open a new account in the same or another bank.
This limitation does not apply: 1) to the payment of taxes, financial sanctions and fines payable to the State budget of Turkmenistan;
2) on payment of contributions to pension insurance, financial sanctions and penalties payable to the Pension Fund of Turkmenistan;
3) on the performance of the obligations specified in the second part of this article.
2. In the case where the account of the insured in Bank funds, necessary for the execution of all its obligations, the obligation to pay pension contributions for pension insurance, financial sanctions and penalties into the Pension Fund of Turkmenistan is executed before his other commitments, with the exception of: 1) reparation for the injury caused to life and health, the payment of alimony;
2) termination payments and remuneration of persons who work under an employment contract and other agreements civil legislation connected with execution of labour duties;
3) payment of State benefits.
3. The decision to suspend operations on bank accounts is made by the head (his Deputy) the local authority Pension Fund of Turkmenistan: 1) non-insured pension contributions Declaration within 10 calendar days after the expiration of her submission, as well as in case of refusal from her view;
2) preventing the insured workers the local authority Pension Fund of Turkmenistan in carrying out documentary checks, including failure to submit documents required for documentary checks.

The decision to suspend operations on bank accounts shall be sent simultaneously with the notification of the insured person of its decision.
4. the suspension of the operations of the insured accounts in a bank subject to unconditional execution of the receipt of the decision of the local authority Pension Fund of Turkmenistan and is valid until cancellation of this decision or until the full amount of claims filed against the decision.


 



Article 32. A ban on the right of the policyholder to dispose of property

 
1. For foreclosing on the property insured local authority Pension Fund of Turkmenistan have the right to prohibit the right of the policyholder to dispose of property, regardless of who it is at this time.
2. Ban on the right of the policyholder to dispose of property issued by a decree of the local authority Pension Fund of Turkmenistan.
The ruling of the local authority Pension Fund of Turkmenistan about imposing a ban on the right of the policyholder to dispose of assets shall be made within one month from the date established for the payment of pension contributions and must contain: 1) the surname, name, patronymic name of the officer and the local authority Pension Fund of Turkmenistan issued a decree;
2) date of adoption and the number of orders;
3) name (surname, name, patronymic name) and address of the insured on the property which is levied;
4) the amount of pension contributions, financial sanctions and fines, to be paid at the expense of foreclosing on the property insured, taking into account the amounts collected in the manner prescribed by article 30 of this law;
5) decision on production of distraint;
6) date of entry into force of the regulations in force.
A decree signed by the head (his Deputy) the local authority Pension Fund of Turkmenistan and is certified by a seal.
3. Prohibition on disposition imposed consistently on: (a)) cash;
b) property outside work;
in) finished goods (goods), as well as other material valuables not involved and (or) not intended for direct participation in the production process;
g) raw materials, intended for direct participation in the production process, as well as equipment, buildings and other fixed assets;
d) property transferred under the agreement in the possession, use or disposal of to others without transition to ownership of the property;
e) other property, except property which, in accordance with the legislation of Turkmenistan may not be levied.
A ban on the disposal of property not subject to property transferred under the agreement, for the duration of such a treaty.
4. in the performance of duties of the insured pension contributions prior to the filing of the local authority Pension Fund of Turkmenistan claim in the Court decision to impose a ban on the right of the policyholder to dispose of assets revoked the official local authority Pension Fund of Turkmenistan to adopt such a regulation.
5. carrying out distraint, compiling an inventory of such Act, possession of the seized property and its implementation shall be carried out in accordance with the legislation of Turkmenistan.
 
Article 33. The statement of claim in court for foreclosure of the property 1. Petition for foreclosure of the property insured served local authority Pension Fund of Turkmenistan in the Court in the manner prescribed by the legislation of Turkmenistan.
2. The claim for the recovery of contributions due to the insured's property may be filed in the Court within six months after the adoption of the Ordinance imposing the ban on the right of the policyholder to dispose of property.
3. the statement of claim for the recovery of contributions due to the insured's property Ordinance attached local authority Pension Fund of Turkmenistan about imposing a ban on the right of the policyholder to dispose of property, Act of conducting an inventory of the assets that is levied, and other documents required for consideration of the statement of claim.
 
Article 34. Penalties 1. Penalties are imposed on the insured in case of violation of the prescribed period, the payment of pension contributions.
 Penalties are imposed on the Bank, if the insured's obligation to pay pension contributions are not performed in a timely manner by fault of the Bank.
2. the Penalty shall not be applied in cases of untimely payment of pension contributions when: 1) incorrect calculation of pension contributions by the notified body involved in the Pension Insurance Act;
2) financing costs of pension insurance at the expense of the State budget of Turkmenistan;
3) the participation of individuals in pension insurance under the contract of insurance;
4) payable by tenants of pension contributions for yourself.
3. Default interest accrues at a rate of 0.03 per cent from not paid within the prescribed time-limits the amount of pension contribution for each calendar day of delay, including day of payment.
In cashless payment of pension contributions in arrears is not included the period prescribed banks for execution of the payment order or payment requirements of the local authority Pension Fund of Turkmenistan.
4. Penalties for late payment are additionally accrued amount of pension contributions is calculated for the entire period of non-payment of pension contributions, beginning with the deadlines established by the present law.

5. When submitting the policyholder Declaration on pension contributions with changes and additions or declaration, which previously was not provided, is made recalculation of accrued interest.
6. the local authority Pension Fund of Turkmenistan monthly sends notification of the insured amounts of fines, calculated over the past month in up to 5 of the following month.
Penalties are payable by the insured within ten days from the date of delivery of the notice to him.
Payment of the penalty shall be made after the payment of pension contributions.
7. clarify the calculated amount of pension contributions implies changing the previously accrued amount of penalties.
 
CHAPTER VII. PENSION INSURANCE FUNDS. ACCOUNTING of PENSION CONTRIBUTIONS, article 35. Pension funds 1. Pension contributions for compulsory pension insurance and compulsory professional pension insurance shall be paid to the budget of the Pension Fund of Turkmenistan and are the tools of the State.
2. the funds of the budget of the Pension Fund of Turkmenistan have purpose and sent to social, including pension, providing the insured upon occurrence of an insured event, the formation of pension fund reserves of Turkmenistan, other objectives related to social protection, and on the financing of the costs of administering the pension system in accordance with the legislation of Turkmenistan.
3. the funds of pension fund reserves of Turkmenistan are used to ensure the financial sustainability of the pension system.
4. The budget of the Pension Fund of Turkmenistan are stored on accounts opened in the authorized bank of Turkmenistan.
 
Article 36. Accounting for pension contributions 1. Accounting for pension contributions on pension accumulation system and the pension system is on personal retirement accounts insured persons (personified accounting).
2. Personalized accounting of pension contributions and pension capital insured persons is carried out by the local authority pension fund in a manner approved by the Ministry of labour and social protection of the population of Turkmenistan.
3. Pension Fund of Turkmenistan on the basis of data from its local bodies creates a consolidated electronic database on pension contributions and pension capital insured persons in Turkmenistan.
 
Article 37. Book 1 pension insurance. Insured persons under the State pension insurance pension fund local authorities of Turkmenistan issued pension book free. Pension insurance Carnet is approved by the Pension Board.
2. For the treatment of the insured person, the local authority Pension Fund of Turkmenistan produces in his book a record of the amount of pension insurance pension capital on a fully funded pension system and the pension system, as well as gives an extract from his personal retirement account for the selling period.
3. The insured person has the right to ask the insurer and the insured to make reconciliation of information concerning the amount of pension contributions paid by the insured and listed on his/her personal retirement account by the insurer.
 
CHAPTER VIII. FINANCIAL SANCTIONS Article 38. The scope of this chapter the rules of the present chapter shall apply in respect of insured persons referred to in paragraphs 1-3 of the first paragraph of article 6 of this law, and banks.
 
Article 39. Application of financial sanctions 1. Offence in the field of pension insurance is guilty of wrongful act subject to pension insurance, for which there is liability established by this law.
2. the offence in the field of pension insurance implies imposing of the Pension Fund of Turkmenistan and its local authorities financial sanctions established under articles 40-43 of this law.
3. Imposed financial sanctions shall be paid to the budget of the Pension Fund of Turkmenistan within five days from the date of delivery of the order.
Payment imposed financial sanctions is made after payment of pension contributions.
4. An offence committed because of wrongful acts (inaction), written instructions, decisions and explanations of authorized bodies involved in matters of pension insurance within their powers, does not entail the imposition of financial sanctions.
5. financial penalties do not apply in the case of non-payment of pension contributions by the insured as a result of incorrect calculation of pension contributions by the notified body involved in matters of pension insurance.
6. financial penalties do not apply to budgetary institutions and private associations in a part of the calculation, payment of pension contributions and the presentation of the Declaration for the tenants.
7. financial penalties may be imposed for violations of the law of Turkmenistan in the area of pension insurance, committed in a period of not more than five years prior to the year in which the head of the local authority Pension Fund of Turkmenistan decision on their application.

8. In case of contestation of the amount of pension contributions, on which the decision of the local authority Pension Fund of Turkmenistan imposed financial sanctions, responsibility for their payment shall be performed by the insured on the undisputed amount of financial sanctions. The contested amount of financial sanctions is not paid within the period of examination of the complaint in the appropriate body of the Pension Fund of Turkmenistan or the Court, but not more than six months from the date of their application for an amount of pension contributions.
9. Clarification of the amount of pension contributions payable to envisage changing the financial sanctions imposed earlier in respect of this amount.
 
Article 40. Financial penalties for understatement of the amount of pension contributions 1. Understatement of the amount of pension contributions payable as a consequence of reducing the base for pension contributions and other misconduct implies an overlay to the insured the financial sanctions in the amount of 40 per cent from low amounts not paid to the budget of the Pension Fund of Turkmenistan.
2. the amount of the understatement of pension contributions is considered to be made on the day fixed for the filing of declarations on pension contributions.
3. For the purposes of this article the amount of lowering pension contributions is considered a failure by the policyholder Declaration on pension contributions for a period exceeding ninety days from the day of its submission set by this law.
 


Article 41. Financial sanctions for violation of the prohibition imposed by the insured the right to dispose of property

 
Violation of the ban on the right of the insured property, for which levied contributions, leads an overlay to the insured financial sanctions amounting to 50 per cent of the fair market value of such property.
 


Article 42. Financial sanctions for failure to comply with the duty to announce the opening of a bank account the responsibilities of the failure by the Bank to announce the opening of accounts of individuals and legal entities (their standalone subdivisions), referred to in article 6 of this law, the local authority Pension Fund of Turkmenistan leads overlay on the bank financial sanctions in the amount of 10 per cent of all funds transferred to these accounts.
 


Article 43. Financial sanctions for failure to comply with decision local authority Pension Fund of Turkmenistan to suspend operations on the accounts of the insured

 
The holding bank debit transactions on the accounts of individuals and legal entities (their standalone subdivisions), referred to in article 6 of this law, in violation of the decision of the local authority Pension Fund of Turkmenistan to suspend transactions on their accounts implies overlay on the bank financial sanctions in the amount of 10% of the amount of all funds deducted from these accounts.
 
Article 44. Changes in the period of payment of financial sanctions and penalties 1. Change of term of payment financial sanctions and penalties recognized by transferring the deadline their payment at a later date.
2. Changing the timing of the payment of financial penalties and fines is in the form of deferral or installment of the entire amount payable financial sanctions and penalties or parts thereof respectively with a lump-sum or phased payment of the arrears.
The decision to change the duration of the payment of financial penalties and fines was adopted by the Pension Fund of Turkmenistan in the form of deferral or payment by installments for up to one year.
 
CHAPTER IX. APPEALS AGAINST DECISIONS of the PENSION FUND of TURKMENISTAN, ITS officials and employees of Article 45. The procedure for the submission and consideration of complaints 1. The policyholder, the insured person shall have the right to appeal a decision of the Pension Fund of Turkmenistan, its local authorities, as well as their official and employee committed against him.
2. a complaint on the decision of the local authority Pension Fund of Turkmenistan and the actions of its officials is served by the policyholder or the insured person in superior authority or in court.
3. the complaint on the employee's actions, the local authority Pension Fund of Turkmenistan served its Manager.
4. the decision on the appeal may be lodged within one month from the date of receipt in higher authority.
5. Obžalovanie in court decisions of the authority of the Pension Fund of Turkmenistan and the actions of its officers is carried out in accordance with the legislation of Turkmenistan.
 
Chapter x. FINAL PROVISIONS Article 46. The period of limitation Statute of limitations does not apply to the right to claim payment of pension contributions.
 
Article 47. Monitoring of implementation of this law, the control over the implementation of this Act within the limits of their authority is exercised by the Ministry of labour and social protection of the population of Turkmenistan, Turkmenistan's retirement fund and the public authorities.
 
Article 48. Responsibility for violation of this Act, the violation of this law entails responsibility established by the legislation of Turkmenistan.
 
Article 49. Transitional provisions work experience (service) of the insured persons to January 1, 2013 year is counted as insurance periods on a funded pension system.
 
Article 50. The entry into force of this Act, this Act shall enter into force on January 1, 2013 year.
 
 
     Turkmen President Gurbanguly Berdimuhamedov mountains. Ashgabat, March 31, 2012 year no. 287-IV.