OREANDA-NEWS. September 28, 2015. Bank of Russia took a decision to impose a six-month ban on Non-governmental Pension Fund Tikniy Don (PSRN: 1026103277551; TIN: 6164069394) to enter into new pension agreements and(or) obligatory pension insurance agreements; to transfer pension savings in trust management of management companies; to write off funds from the pension account, excluding write-offs aimed at payment of accumulative part of the pension, payments to legal successors (individuals) and transfer of funds (portion of funds) of maternity benefit due to the refusal of the policy holder from the accumulative part of the pension or in case of the insured person’s death; and to meet obligations to transfer pension savings to other non-governmental pension funds.

This decision is taken due to the fund’s failure to meet the Bank of Russia instruction to remove violations due to the fund Council’s unilateral decision violating rights of policy holders indicating the violation by the fund of requirements of Article 14 of Federal Law No. 75-FZ, dated 7 May 1998, ‘On Non-governmental Pension Funds’ and illegitimacy of this decision.