In my 40s


The supplementary pension fund units may be changed for the units of another supplementary pension fund.

It is also allowed to transfer the sum accrued in the III pillar pension fund to a supplementary pension insurance contract, and vice versa, transfer the sum accrued under the insurance contract partially or fully into a III pillar pension fund.

Changing the Pension Fund Units

In order to change the voluntary pension fund units or to transfer the sum accrued in the fund to an insurance contract, the owner of the unit must submit a written application to their management company.

No payments from the pension funds are made upon changing the pension fund units.

Pension funds are not allowed to establish in their terms and conditions:

  • the minimum number of units that can be changed at once (was allowed until 1 August 2011));
  • the minimum term before which the units cannot be changed (was allowed until 1 August 2011).

Management Company Fees

Upon changing between the funds of different management companies, the management company will charge the unit redemption fee and issue fee in the amount established in the terms and conditions of the pension fund.

Transfer of the Sum Accrued under an Insurance Contract

Sums accrued under the supplementary pension insurance contract can be partially or fully transferred into the supplementary pension fund or to the contract of another pension insurance.

To transfer the assets accrued under an insurance contract to a pension fund, the insured must submit a respective application to the insurer. To transfer the accrued assets to a pension fund, a securities account must be opened. The account can be opened at a bank that is an account operator.

No payments are made upon transfer of the sum from an insurance contract.

Insurance Company Fees

Upon changing, the insurance company will charge the expenses related to the change from the reserve of the insurance premiums. The amount of the charge is established in the contract or in the price list of the insurance company.