COUNCIL OF MINISTERS OF THE REPUBLIC OF BULGARIA SISA... · Web viewCOUNCIL OF MINISTERS OF THE REPUBLIC OF BULGARIA. ... for republican budget for municipality leva No receipt

COUNCIL OF MINISTERS OF THE REPUBLIC OF BULGARIASTATE INSURANCE SUPERVISION AGENCY

APPROVED BY:SISA CHAIRMAN:

GUIDELINESFOR THE TERMS, CONDITIONS AND DOCUMENTS REQUIRED

FOR APPLICATION FOR LICENSING SUPPLEMENTARY PENSION INSURANCE COMPANIES

I. GENERAL CONDITIONS FOR LICENSE APPLICATION

In accordance with art. 17 of the Supplementary Voluntary Pension Insurance Act (SVPIA), pension insurance companies are obliged to apply for a supplementary pension insurance license issued by the State Insurance Supervision Agency.The license is issued by decision of the Supplementary Social Insurance Council. All pension insurance companies which apply for a license should meet the following requirements:

1. They should be registered under the terms and conditions of the Commercial Act with supplementary pension insurance regulated by law being their only activity.

2. Pension insurance companies may only issue registered dematerialized shares giving the right to one vote.

3. The name of the company should contain a combination of the words “pension” and “insurance”.

4. Foreign entities which have established a pension insurance company should meet the requirements of art. 14, paragraph 2 of the SVPIA.

5. At the moment of lodging of the application for licensing the pension insurance company should have deposited the minimum required capital of 3 million leva in cash.

6. The pension insurance company should have concluded contracts with custodian banks and broker dealers.

7. The pension insurance company should have deposited in the SISA account, a fee amounting to 600 leva for application processing.

8. The fee should be paid to a bank account No 3000134005, bank code 66196611, BIN 7302000003, BNB - Central office, 1 Al. Batemberg Sq.

1. REQUIRED DOCUMENTS AND LODGING PROCEDURE

In accordance with art. 38 of the SVPIA the pension insurance company should file an application with the SISA for issuance of a license, together with the attachments described in Appendix 1.

All application forms and the diskette should be received from the SISA.

An original and two copies of the application and all attachments to it should be lodged at the SISA in accordance with the approved forms, together with one diskette in accordance with an approved format of saving.

In case of incomplete information the SISA, within 3 days of the receipt, should notify the applicant who should rectify the situation within 7 calendar days.

The following documents should be attached to the application:

I.1. Copies of the court decision on company registration and entry of changes in the Commercial Register.

I.2. A certificate of actual condition of the company effective on the date of lodging of the application.

I.3. The statute of the company effective on the date of lodging of the documents, certified and signed by the individuals representing the company.

I.4. The Articles of Association of the pension insurance company.I.5. Bank certificates from the custodian banks attesting to the

insurance company capital, required under art 14, paragraph 3 of the SVPIA, having been deposited. Existing pension insurance companies should provide certificates from the banks where their minimum required capital has been deposited.

I.6. A document issued by the Central Depositary certifying that the registered dematerialized shares of the pension insurance company are registered by shareholder.

I.7. Estimates relating to the activity of the pension insurance company and the voluntary pension fund for the first three years, including income and expenditure estimates (Appendix 2).

I.8. Actuarial projections for all offered pension schemes and their description (Appendix 3).

I.9. Information relating to the actuary (Appendix 4). I.10. Documents including a declaration, proving compliance with the

provisions relating to art. 19 of SVPIA for the members of the boards of managers and/or controllers of the company (Appendix 5).

I.11. A list of shareholders who have inscribed directly or through related persons more than 10 per cent of the company’s stocks or who are able to exercise control on the pension insurance company (Appendix 6).

I.12. A list of custodian banks (banks) contracted by the company, effective on the date of lodging of the application (Appendix 8).

I.13. A list of investment intermediaries contracted by the company, effective on the date of lodging of the application (Appendix 9).

I.14. A document issued by the custodian banks (banks) and investment intermediaries certifying that they are not related persons within the meaning of art. 21, para 3 of the SVPIA.

I.15. The Rules of the pension insurance company.I.16. A copy of the protocol of the managing bodies’ decision on

adoption of the rules of the company.I.17. Samples of insurance contracts.I.18. A report in accordance with an approved model, containing

information about the persons who have inscribed 1 and more than 1 per cent of the capital of the company (Appendix 7).

I.19. A written declaration in accordance with an approved model relating to the origin of the funds used for paying deposits against inscribed shares, stating that the funds have not been borrowed and that taxes have been paid for the last five years (Appendix 10).

I.20. A list of broker dealers of the pension insurance companies, individuals and/or legal entities, accompanied by declarations of the broker dealers with respect to the requirements under art 26, paragraph 2 of the SVPIA (Appendix 11.1, 11.1a, 11.2 and 11.2a).

I.21. A copy of the identification document of insurance intermediaries.I.22. A document issued for foreign entities which are establishers of

pension insurance companies certifying the requirements of art. 17, paragraph 3 of the SVPIA.

I.23. A copy of the payment order for deposited fee for application processing.

2. ADDITIONAL INFORMATION

2.1. An annual balance sheet, an income and expense statement of the pension insurance company, a cash flow statement, and a report relating to the changes in the equity capital in the last report year approved by the General Meeting of the shareholders.

2.2. An balance sheet, an income and expense statement of the pension insurance company, a cash flow statement, and a report relating to the changes in the equity capital in the last quarter prior to the lodging of the licensing application.

2.3. A description of the financial accounting system of the pension insurance company and of the pension fund and how it complies with the SVPIA (Appendix 12).

2.4. A description of the information system of the pension fund in compliance with the provisions of the SVPIA (Appendix 13).

2.5. Information relating to the organizational and management structure of the pension insurance company.

2.6. A report concerning the main results from the operation of the pension insurance company and the pension fund for the last quarter prior to the lodging of the application (Appendix 14) including assets of the voluntary pension fund.

2.7. An actuarial balance of the pension schemes through December 31, 1999.

2.8. A report relating to the ratio between the equity capital and the minimum required capital of the pension insurance company prior to the lodging of the license application (Appendix 15).

…………………………………………………………………………….(name of the pension insurance company)

ATTN.: The chairman of the State Insurance Supervision Directorate

APPLICATION for issuance of a supplementary pension insurance license in

accordance with art. 17 of the SVPIA

from ………………………………………………………………………(name of the pension insurance company)

head office ……………………………………………………………….

management address………………………………………………………

BULSTAT………………Tax No…………………….………………………………………Telephone………….. Fax…………… E-mail ………………….

Mr. Chairman,

I would like to ask you to issue a license for supplementary pension insurance to ………………………………………………………..The company meets all requirements of the SVPIA.We have attached all required documents and other materials pursuant to art 38 of the SVPIA and the SISA guidelines.

Manager: (name, ID No, position, signature, seal)

DateSofia


Appendix 1

LIST OF DOCUMENTS ATTACHED TO THE APPLICATION FOR A LICENSE

Number of pages

Notes, if necessary

Required documents1. A copy of the court decision on

company registration and entry of changes in the Commercial Register.

2. A certificate of actual condition of the company effective on the date of lodging of the application.

3. Statute of the company.4. Articles of Association of the

pension insurance company.5. Certificate from custodian banks

(banks) attesting to paid minimum capital.

6. A document issued by the Central Depositary certifying that registered dematerialized shares are registered by shareholder.

7. Estimates relating to the activity of the pension insurance company and the voluntary pension fund for the first three years.

8. Actuarial projections for all offered pension schemes and their description.

9. Information relating to the actuary.

10.Declarations and documents certifying the requirements under art. 19 of SVPIA for members of managing and controlling bodies

and for the actuaries of the PIC.11.A list of shareholders who have

inscribed directly or through related persons more than 10 per cent of the company’s stocks or who are able to exercise control on the PIC.

12.A list of custodian banks (banks) contracted by the PIC.

13.A list of broker dealers contracted by the PIC.

14. A documents issued by custodian banks (banks) included in the list under item 12 or by the investment intermediaries that they are not related parties under art. 21, para 3 of the SVPIA.

15.The Rules of the PIC.16.A copy of a protocol of the

managing bodies’ decision on adoption of the rules of the PIC.

17.Samples of insurance contracts.18.A report relating to persons who

have inscribed 1 and more than 1 per cent of the capital of the PIC.

19.A written declaration relating to the origin of the funds.

20.A list of broker dealers of the pension insurance companies with declarations of the broker dealers with respect to the requirements under art. 26, paragraph 2 of the SVPIA.

21.A copy of the identification document of the insurance intermediaries.

22.A document for foreign entities establishers of a PIC certifying the requirements of art.14, para 3 of the SVPIA.

23. A copy of the payment order for paid application processing fee.

Additional documents:1. Annual balance sheet of the PIC2. Annual income and expense statement of the PIC3. Annual cash flow statement4. Annual report on changes in equity5. Quarterly balance sheet for last quarter prior to lodging of application6. Quarterly income and expense statement of PIC for last quarter7. Quarterly cash flow statement for last quarter8. Quarterly report of changes in equity for last quarter9. Description of accounting system of PIC and PF10. Description of information system of PF11. A copy of PIC management structure approved by managing bodies12. Report on main results from the operation of PIC and PF for the last quarter prior to lodging of application. 13. Actuarial balance sheet for pension schemes through Dec 12, 199914. Report on ratio between equity capital and minimum required capital of PIC as of the last quarter prior to application lodging

PREPARED BY: MANAGER: (sign., seal)

(contact number)


Appendix 2

ESTIMATE

of the activity of ………………………………. (name of PIC) and ………………………………….(name of PF) for 2001, 2002 and 2003.

No INDICATORS Measure 2000 estimate

Estimate2001 2002 2003

1 2 3 4 5 6 7I. Initial Indicators

1. Total number of insured persons at beginning of period, inclusive of:

1.1. With monthly contributions1.2. With lump sum contributions2. Total number of persons who have

left the fund during the year, inclusive of:

2.1. Transferred to a VPF managed by another PIC

2.2. Withdrawn funds3. Insured persons who have become

eligible for pension pursuant to the Rules of the PIC – total for the year, inclusive of:

3.1. Pensioners with monthly pensions4. New insured persons for the year –

total, inclusive of 4.1. With monthly contributions4.2. With lump sum or periodic

contributions5. Insured persons at year end (P1 – P2

– P3 + P4)inclusive of:

5.1. With monthly contributions5.2. With lump sum or periodic

contributions6. Average monthly number of insured

persons for whom monthly contributions have been received

7. Percentage of average monthly number of insured persons, for whom monthly contributions have been received, of the average monthly number of insured persons

%

8. Paid benefits8.1. Lump sum benefit payment 9. Average monthly contribution per

insured person10. Average lump sum and/or periodic

contribution per insured person

11. Average monthly benefit12. Average amount of lump sum

payments per insured person who has left the fund

13. Average amount of lump sum payments per pensioner

14. Initial fee per new insured person15. Average fee on monthly contributions16. Average net amount of monthly

contribution (P9 – P15) 17. Average annual rate of investment

return18. Average rate of allocation of PF

investment returnII. Pension Fund

1. Pension fund at beginning of year2. Total revenue inclusive of:2.1. Initial fee2.2. Contributions2.3. Investment return2.4. Amounts transferred from other funds3. Reallocations from pension fund –

total, inclusive of:3.1. Initial fee3.2. Fees on contributions3.3. Fee on return3.4. Lump sum payments to insured

persons who have left the fund3.5. Lump sum payments to pensioners3.6. Paid pension benefits3.7. Amounts transferred to other funds4. Pension fund at year end4.1. Government securities, incl.

% of total amount4.1.1 ZUNK bonds

incl. % of total amount4.2. Securities listed for trading at the

organized capital markets

% of total4.2.1 Corporate bonds

incl. % of total amount4.3. Municipal bonds

incl. % of total amount4.4. Real estate

incl. % of total amount4.5. Mortgages

incl. % of total amount4.6. Investment overseas

incl. % of total amount4.6.1. Government securities4.6.2. Municipal bonds4.6.3. Securities registered for trading at

organized markets 5. Deposits – total

incl. % of total amount5.1. in leva5.2. in foreign currency

III. Pension insurance company1. Funds available at beginning of year

(from current operational income)2. Income during the year – total

incl.:2.1. From fees and deductions – total

incl.:2.1.1. From initial fee2.1.2. Fee on contributions2.1.3. Fee on return2.1.4. Fee on lump sum payments2.1.5. Fee on amounts transferred to another

fund2.1.6. Information disclosure fee2.2. Income from investment of equity

capital3. Total year expenditures

incl.:3.1. Operation expenditures3.2. Financial expenditures3.3. Extraordinary expenditures4. Profit (loss) before taxation5. Taxes paid6. Net profit (loss)7. Capital expenditures

incl.:7.1. Acquisition of fixed tangible assets7.2. Acquisition of fixed non-tangible

assets

Prepared by: Manager:

Chief accountant:

Date:


Appendix 4

INFORMATION

relating to the actuary of ………………………………….. (name of PIC)

1. Full name

2. ID card data

3. ID No

4. University degree, name of university, major

5. Training courses (topic, duration, organizer)

6. Date, number and term of labor contract

7. Total length of service

8. Length of service as actuary

Prepared by: Manager:Date:


Attachment 3

INFORMATIONon the actuarial projections for the offered pension plans and their

description

The information relating to the actuarial projections for the offered pension plans and their description shall contain the following:

1. A description of the types of pension plans offered by the pension fund which shall include:

1. types of supplementary pensions and/or other benefit payments from the respective pension plan in case of occurrence of the insurance events old age, disability and death;

2. eligibility requirements for supplementary pensions and/or other benefit payments from the respective pension plan;

3. the manner in which the supplementary pensions and/or other benefit payments from the respective pension plan are calculated;

2. Biometric basis used for the actuarial projections which shall include:

1. death rate tables used in the actuarial projections;2. disability table for the insured persons – total and by sex

(developed for the purposes of the pension insurance companies);

3. distribution of the insured persons in pension funds by age and sex;

4. relative share of the insured persons who leave the pension fund – due to transfer, death or other reasons;

5. selection of a probability system used for development of the pension plans (death rate probability, disablement probability, marriage and divorce probabilities, family status as a factor for survivor rights, etc.) which shall reflect past trends and shall provide future values of these trends.

3. Technical interest rate used for actuarial projections

4. Estimated amount and structure of the pension fund and factors which affect its financial condition

1. Estimates for future expenses for pensions or lump sum payments depending on the number and structure of the insured persons and the pensioners, as well as for fund administration costs;

2. an assessment of future liabilities (pension benefits) to fund members;

3. a description of pension plans (pension products) with respect to the terms and conditions for retirement;

4. risk analysis relating to fluctuations of economic and demographic factors;

5. Methods for valuation of the minimum liquid funds of the supplementary pension fund

Actuary: Manager:


Appendix 5

DECLARATIONpursuant to art. 19 of the SVPIA

by………………………… ID No……………………..address………………………………………………….member of (actuary)……………………………………

I DECLARE1. I have a university degree, diploma No…………/…………issued by

……………….(name of university), major…………...2. I have not been convicted for intentionally committed general crime,

conviction certificate issued by ………, on …… 2000.3. I have not been a member of managing or controlling bodies or a

general liability partner in a company or cooperative terminated due to bankruptcy, if a creditor has remained unsatisfied or if they are undergoing bankruptcy proceedings.

4. I have not been a member of managing or controlling bodies of commercial banks which have become bankrupt or are undergoing bankruptcy proceedings.

5. I have not been deprived of the right to take positions with responsibility for property.

6. I am not a spouse and I do not have a relative up to the third degree, including direct or collateral kinship, or an in-law, of another member of the Board of Managers.

7. I am not a member of a managing or controlling body of another company engaged in the same type of activity.

8. I am not included as an individual or as a member of managing or controlling bodies of a legal entity, in the list under the Bad Credits Information Act.

9. I have not performed security or any other similar type of activity.10.I have not been a partner or a shareholder, or a member of managing

or controlling bodies of a company engaged in security or other similar activities.

11.I am not a partner or a shareholder, a member of a managing or controlling body or an employee of a broker dealer under art. 20, paragraph 1 of the SVPIA of or a related person.

12.I am a permanent resident of the Republic of Bulgaria.

Note: All data under item 12 shall be provided only by the chairman of the Board of Managers, of the Board of Directors, the executive director and the actuary.

I am aware that for incorrect data entry I am liable under art. 313 of the Penal Code.Date: Signature:


Appendix 6

INFORMATION

relating to shareholders who directly or through related persons have inscribed more than 10 per cent of the stocks or are able to exercise control on…………………………………………………. (PIC)

No Shareholders, name of legal entity, name of sole trader or full name of individual, court decision, telephone, fax

BULSTAT, TAX No, tax office, ID No, and ID card data

Number of registered dematerialized shares held in the PIC

Nominal value of share

Percentage of capital of PIC

directly through related persons

total

1 2 3 4 5 6

Date: Manager:Prepared by:


Appendix 7

INFORMATION

relating to shareholders who have inscribed more than 1 per cent and more of the capital of …………………………………………………. (PIC)

No Shareholders, name of legal entity, name of sole trader or full name of individual, court decision, telephone, fax

BULSTAT, TAX No, tax office, ID No, and ID card data

Number of registered dematerialized shares held in the PIC

Number of registered dematerialized shares held in the PIC each with the right to one vote

Percentage of owned PIC shares (K4 : K5) x 100

1 2 3 4 5 6

Date: Manager:Prepared by:


Appendix 8

LIST of custodian banks (banks) contracted by the company effective on

the date of application lodging

No Name of bank Address of management

No and date of banking license issued by BNB

BULSTAT and tax No

1 2 3 4 5

Date: Manager:

Prepared by:


Appendix 9

LIST of broker dealers contracted by the company effective on the date of

application lodging

No Name of broker dealer

Address of management

No and date of license issued by SSEC, registration for banks

BULSTAT and tax No

1 2 3 4 5

Date: Manager:

Prepared by:


Appendix 10

DECLARATIONrelating to the origin of the funds used for contributions against

inscribed shares

The undersigned …………………………………… , ID card (passport) No…………, issued on ………………., by…………… RD of MoI, city………, ID No, mailing address…………………………., zip code……………………, street………….., No…., bl. ……, floor, …….ap. ……., company……………………………………, tax office,…….., tax No, …….., BULSTAT, tel………., fax, ………… in his/her position ofA. individualB. individual sole traderC. representative of a legal entity ………………………… (name)head office ………………………………………………………..mailing address, city……………., zip code………………….., street ……………….., No…., bl. ……, floor, …….ap. ……., company……………………………………, tax office,…….., tax No, …….., BULSTAT, tel………., fax, ………… , on the basis of (court decision) ……………………………..

I DECLARE:1. The money used for inscribed shares is from ……………………..

(description of sources)………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

2. For the period of the last five years during which the money under item 1 has been acquired, income tax has been paid as follows:

No Year Tax paid in BGN No of receipt or bank document

1 2 3 412345

3. The profit of the legal entity I represent for the last five years and its profits tax and municipal taxes are as follows:

No Year Profits tax total (leva) Incl.:

for republican budget

for municipality

leva No receipt or bank doc

leva No receipt or bank doc

1 2 3 4 5 6 712345

4. The legal entity I represent owns property and financial assets amounting to ……….. leva as of the last quarter prior to application lodging.

5. The money used for inscribing these shares is not borrowed and is not from credits.

6. I (the legal entity I represent) do not have any liabilities to the state.7. I agree to provide information to the respective bodies with respect to

the information in this declaration.

I am aware that for incorrect data entry I am liable under art.313 of the Penal Code.

Date: Signature:


Appendix 11.1.

LISTof insurance intermediaries (individuals) of ……………………………………….. (PIC)

No Name, address ID No Address Type of contract between PIC and insurance intermediary (labor, civil, other)

1 2 3 4 5

Date: Manager:Prepared by: (contact number)


Appendix 11.1a

DECLARATION

by …………………….. ………………………………………………ID No……………………. ID card data………………………………address…………………………………………………………………insurance intermediary of ………………………………………. (PIC)

DECLARE:

1. I have not been and am not engaged in security or other similar activities.

2. I have not been and am not a partner or a shareholder, or a member of a managing or controlling body of a company engaged in security or other similar activities.

3. I am not employed by a pension insurance company other than the one indicated above.

I am aware that for incorrect data entry I am liable under art 313 of the Penal Code.

Date: Signature:


Appendix 11.2.

LISTof insurance intermediaries (legal entities) of ……………………………………….. (PIC)

No Name, address BULSTAT Address of management

Type of contract between PIC and insurance intermediary

1 2 3 4 5

Date: Manager:Prepared by: (contact number)


Appendix 11.2.A

DECLARATION

by …………………….. ………………………………………………BULSTAT……………………. ………………………………………address…………………………………………………………………insurance intermediary of ………………………………………. (PIC)

DECLARE:

1. We have not been and are not engaged in security or other similar activities.

2. We have not been and are not partners or a shareholders, or members of a managing or controlling body of a company engaged in security or other similar activities.

3. We are not employed by a pension insurance company other than the one indicated above.

We are aware that for incorrect data entry we are liable under art 313 of the Penal Code.

Date: Signature:


Appendix 12

DESCRIPTIONof the financial accounting system of the PIC and the PF

The description of the financial accounting system shall contain the following:I. The existence of an accounting software which shall meet the

following requirements:

1. Separate reporting ofa) the pension insurance company as a joint stock company in

accordance with the requirements of the Accountancy Act and the National Accounting Standards;

b) the supplementary pension funds (voluntary with cash contributions, voluntary with investment vouchers, and supplementary mandatory universal and occupational funds) in accordance with the requirements of the Supplementary Voluntary Pension Insurance Act, Part II of the Mandatory Social Insurance Code, the Accountancy Act, the National Chart of Accounts, the National Accounting Standards.

II. Connection between the financial accounting system and the information system of the pension funds.

III. How the rights of each customer are defined as well as registration of customer actions.

IV. Possibilities for data import and export to other products – information systems of pension funds, word processors, spread sheets, etc.

V. Multi-currency reporting.

VI. Possibilities for generation of information and reports pursuant to specific legal and other requirements.

VII. Existence of high analytical potential of reporting which should allow strict and timely monitoring of certain parameters.

VIII. Possibility for preparation of turnover reports for a random period of time.

IX. Possibilities for comparative analyses between software and report data for the purposes of management of control.

X. Possibilities for use of separate modules which are supplemented and extended on a regular basis, adjusted in accordance with specific requirements.

Chief accountant: Date:Manager:


Appendix 13

DESCRIPTIONof the information system of a pension fund

The description of the information system shall include:

I. Description of software1. The base software used – operation system, data base

management system, and other main characteristics of the software.

2. Detailed description of the information system used for administration of pension funds managed by the company, which shall contain the following main components:2.1. Registration of insurance contracts and constant updating

– by type of contract for the respective supplementary pension funds managed by the company and by type of contract (individual contract, contract with employer, contract with another insurer).

2.2. Opening and maintenance of fund member insurance account separately for each pension fund in accordance with the offered pension plans, which shall contain information on: received contributions – from insured person, from employer and/or other insurer, fees and deductions charged in accordance with the company’s rules, and the investment return allocated in the accounts.

2.3. Registration of all received insurance contributions and their allocation in individual accounts separately for each fund.

2.4. Allocation of investment return in individual accounts separately for each fund.

2.5. Registration of all applications received for reimbursement and/or transfer of funds to another pension fund managed by another pension insurance company – separately for each fund.

2.6. Registration of all applications received for transfer of funds from one account to another account in the same fund.

2.7. Reimbursement and/or transfer of funds pursuant to the rules of the pension insurance company and/or the pension funds.

2.8. Registration of all applications received for granting of pensions – separately for each fund.

2.9. Granting and payment of pensions in accordance with the offered pension plans and separately for each pension fund.

2.10. Termination of pension insurance contracts – separately for each fund.

2.11. Closing of individual accounts.3. Description of data archiving systems and disaster recovery,

including operation of a second back up server and its location. 4. Description of control and unauthorized access prevention

system.5. Possibility for working with offices and remote work stations.6. In case of a branch network, maintenance of a complete data

base in headquarters and possibility for centralized control.

II. Description of hardware

Detailed description of the used hardware, the data exchange network, and the data exchange system for company branches.

1. Central server system.2. Operation memory capacity.3. Minimum and maximum number of serviced pension fund members.

III. Description of pension fund administration technology

The description of the pension fund administration technology shall contain a detailed description of the procedures used for:

- registration of pension insurance contracts;- registration of applications lodged by insured persons;- manner of resolving applications lodged by insured persons;- control of received contributions and their correct allocation

in individual accounts;- other procedures used in pension fund administration.

IV. Information system staffing.

V. Main information forms presenting outgoing information flows to pension company management, to insured persons and to the SISA.

VI. Degree of preparation for development of the information system in accordance with estimates for development of pension funds managed by the pension insurance company.


Date:


Appendix 14

INFORMATIONon the main results from the operation of the pension insurance

company with accumulation from the beginning of the year through the last quarter prior to application lodging, including the voluntary

pension fund assetsNo INDICATORS Measure Through …..2000

1 2 3 41. Total number of insured persons, inclusive of:1.1. With monthly contributions1.2. With lump sum contributions2. Average monthly contribution in 20003. Number of pensioners with monthly pensions4. Number of benefits paid4.1. Incl. with lump sum benefit payments5. Average monthly amount of paid pension benefits6. Funds of insured persons and pensioners at end of period6.1. Government securities, incl.

% of total amount6.1.1. ZUNK bonds

incl. % of total amount6.2. Securities listed for trading at registered securities

markets % of total amountincl.: corporate bonds

6.3. Municipal bondsincl. % of total amount

6.4. Real estateincl. % of total amount

6.5. Mortgages incl. % of total amount

6.6. Investment overseasincl. % of total amount

6.6.1. Government securities6.6.2. Municipal bonds6.6.3. Securities registered for trading at organized markets 6.7. Deposits – total

incl. % of total amount6.7.1. in leva6.7.2. in foreign currency7. Income during the year – total

incl.:7.1. From fees and deductions – total7.2. Income from investment of equity capital8. Total year expenditures

incl.:8.1. Operation expenditures8.2. Financial expenditures8.3. Extraordinary expenditures

8.4. Capital expendituresincl.:

8.4.1. Fixed tangible assets8.4.2. Fixed non-tangible assets


Chief accountant:

Date:


Appendix 15

REPORT

by (PIC):address:as of:

on the ratio between the equity capital and the minimum required capital of the PIC

No Indicators Value (thousand leva)1 2 3

1. Minimum required capital2. Equity capital (capital base), incl.:2.1. Initial capital

incl.:2.1.1 Paid capital2.1.2 Total reserves segregated pursuant to

Commercial Act2.1.3 Other general reserves2.1.4 Fixed non-tangible assets by balance

sheet value (-)2.1.5 Current year loss and carry forward loss

(-)2.1.6 Allocations for pension reserves and

other funds pursuant to SVPIA and MSIC (-)

2.2. Additional capital reservesincl.:

2.2.1 Current year PIC profit reported but not distributed, as reduced with amounts under item 2.1.6

2.2.2 Reserves from revaluation of assets3. Ratio between equity capital (capital

base) and the minimum required capital

Date: Manager:Chief accountant: