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Does a possibility of bankruptcy and possibility to lose your money exist?
In accordance with the legislation of Ukraine bankruptcy of pension fund is impossible. In the case of bankruptcy or problems of the funds administrator, the money of participants of the fund will be transferred to another administrator. Such processes are controlled by the State Commission on Regulating Financial Services Markets.
Who manages the fund and who makes decisions?
The Board of the fund is the sole body of management of the pension fund and consists of 5 persons, who hold leading positions in OTP Group in Hungary, Bulgaria and Ukraine.
If the administrator of the fund is in a difficult financial situation, will it influence my accumulated money?
Separation of assets of the fund from the assets of an administrator of the fund and asset management company gives an opportunity to save the assets of the fund from the influence of external factors.
Does someone check the activity of OTP Pension up?
Yes, OTP Pension is annually verified by an auditing company. The results of these verifications are printed in mass-media. Also there is a strict government control from the side of regulative bodies. The Asset Management Company is controlled by Securities and Stock market State Commission and the Bank custodian – by the National Bank of Ukraine.
If I am not satisfied with the results of OTP Pension activity, can I take my money away?
You can not cash your money out, but in any moment you have a possibility to transfer accumulated money or their part to the other pension fund/bank/insurance company.
What investment strategy does OTP Pension use?
OTP Pension uses conservative investment strategy which enables to minimize an investment risk.
What will happen with my accumulations in case of my death?
Your heirs will get money accumulated by you.
My pension contributions are made by my employer. What will be with my accumulations in case of dismissing?
Pension money of a participant, which are on his individual pension account, is the property of such participant according the legislation that is why after your dismissal you can continue to pay pension payments personally or your new employer can do it too.
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