OREANDA-NEWS. April 08, 2014. AS SEB Varahaldus notifies that the Rules of voluntary and mandatory pension funds have been amended.

Pension funds (mandatory):

SEB Energetic Pension Fund

SEB Progressive Pension Fund

SEB Optimal Pension Fund

SEB Conservative Pension Fund

Pension funds (voluntary):

SEB Balanced Pension Fund

SEB Active Pension Fund

The Supervisory Council of SEB Varahaldus approved the amendments to the Rules on February 20, 2014. The Financial Supervision Authority was informed of the amendments on March 31, 2014. The amendments are mainly due to EU regulation no 260/2012 and the transfer of Estonia to a pan-European cash settlement system (Single European Payments Area or SEPA) which brought about changes in the principles of interbank payments and settlement rules of the Estonian Central Securities Register, thus affecting the settlement of unit transactions in pension funds. The amendments to the Rules will enter into force on May 1, 2014.

The amended Rules can be reviewed at the website of SEB Varahaldus at www.seb.ee/funds and in SEB branches all over Estonia. Unit holders have the right to receive clarification of the importance of the amendments to the Rules.

For further information about the amendments to the Rules please contact us by phone on 665 6100 or by e-mail at fondid@seb.ee.