2015-09-16
Amendments to rules of 3rd pillar pension funds managed by UAB INVL Asset Management approved
The Supervision Service of the Bank of Lithuania, having examined the request and related material submitted by UAB INVL Asset Management, approved the amendments to the rules of the 3rd pillar pension funds managed by this management company.
The Supervision Service of the Bank of Lithuania, having examined the request and related material submitted by UAB INVL Asset Management, approved the amendments to the rules of the 3rd pillar pension funds managed by this management company.
The management company is participating in the restructuring process, after which it will join with UAB MP Pension Funds Baltic and UAB INVL fondai. On 31 August 2015, UAB INVL Asset Management took over management of the three 2nd pillar and two 3rd pillar pension funds managed by UAB MP Pension Funds Baltic.
In the approved rules, the names of the 3rd pillar pension funds are changed (according to the name of the management company and the pension fund conception): Finasta akcijų pensija plius – to INVL III akcijų, Finasta obligacijų pensija plius – to INVL STABILO III 58+, MP MEDIO III – to INVL MEDIO III 47+, MP EXTREMO III – to INVL EXTREMO III 16+.
With the amended 3rd pillar pension fund rules, the minimum investment amount is eliminated, a new payment is introduced – 10 per cent of the funds redeemed by the participant, if the participant redeems partial funds more often than once every two years (this fee does not apply to participants having the right to pension benefits), In addition, the procedure for providing report information to participants was revised, pension account management principles and other information, related to participation in pension accumulation funds.