License for Supplementary Employer Pension Fund

Central Bank of the Republic of Kosovo, Department of Licensing and Standardization

Qëllimi: The purpose of this procedure is to establish the minimum conditions that must be met by the interested parties for licensing or establishing a Supplementary Pension Fund of the Employer. Through this procedure, the process of application evaluation is regulated which makes it possible for only those legal entities that meet the criteria set out in the applicable legislation to be allowed to enter the market.

Përshkrimi: Those interested in licensing as Supplementary Employer Pension Fund (pension fund) must meet all requirements under Law no. 04/L-101 On Pension Funds of Kosovo, necessary for the application process. The application must be in writing, signed by the founder and submitted to the Central Bank of Kosovo, with a physical presence of the representatives of the founding shareholders. The application shall be submitted together with the full documentation required by Law No. 04/L-101 On Pension Funds of Kosovo, the Rule on the Licensing of supplementary Employer Pension Funds and the internal acts of the Central Bank of Kosovo. The documentation provided must be in one of the two official languages of the Republic of Kosovo, either in the original or in a legalized copy. After application is completed by the applicant, the executive board of the Central Bank of Kosovo, within 90 days, decides for prior approval or denial of the application. After receiving the final license approval, the fund may commence with the financial activity of pension funds. The Central Bank of Kosovo may, if it considers it necessary, investigate any matters relating to the license application of the Pension Fund. If the CBK refuses a license application of a Pension Fund, it shall notify the Board of Directors making the application of the grounds for refusal in writing.

Baza ligjore

Vlefshmeria e lejes: The license is issued for an indefinite period of time

Organi i ankimimit: Competent Court

Afati i ankimimit: 15 days

Informatat e kërkuara

  • Information for Application;
  • Information on economic activity of the Employer;
  • Information on economic activity of the Applicant.

Koha e parashikuar brenda së cilës duhet të jepet përgjigje për proceduren (në ditë): 90

Dokumentacioni i kërkuar

  • The founding act by which the Pension Fund is established; (Original)
  • Pension Fund Normative Acts specifying the details of payment of contributions and benefits with the categories of employees concerned; (Original)
  • Proposed agreement with the holder; (Original)
  • The list of signatories of the founding act along with the information indicating whether those persons are related and the type of their relation; (Original)
  • Documents of Pension Fund used by participants and beneficiaries; (Original)
  • Statements from the members of the board of directors that they agree to perform these functions as fiduciaries and meet the requirements set forth by the Law; (Copy)
  • Conclusions of an independent expert confirming the existence of the assessment and certifying that the required contributions are adequate to pay pensions, in the case of the Defined Benefit Pension Fund; (Original)
  • CBK form (application); (Original)
  • Business Registration Certificate (Original)
  • Full biographies of founders, members of the board of directors and managers, as well as financial statements (Original)
  • The list of members proposed for the board of directors and managers, their full biographies, including evidence to attest relevant qualification and experience; (Original)
  • The Statute; (Original)
  • Organizational structure (organigram); (Original)
  • Business plan; (Original)
  • Statute of the Sponsor of Sponsors; (Original)
  • List of participants indicating their professional categories, or statements of all Sponsor employees who will participate; (Copy)
  • Copy of the proposed agreement with the manager of the licensed pension fund; (Copy)
  • The list of banks and their addresses by which the Sponsor(s) has banking arrangements and for which the proposed Pension Fund claims to have such banking arrangements and a description of such arrangements; (Verified copy)
  • Copy of the proposed arrangement for holding the funds with the licensed holder; (Copy)
  • Name and contact details of the audit firm for the Pension Fund; (Original)
  • A document certifying that the proposed Pension Fund has the appropriate infrastructure and environment to exercise its activity as a Pension Fund, including the installation of a computerized data reporting system at CBK; (Original)
  • Evidence of payment of license fee based on the number of participants; (Original)
  • Other documents required by CBK regulations or requirements; (Original)
Lloji i pagesësShuma (në Euro)Mënyra e pagesësNumri i llogarisë
PaymentDepending on the number of participants in the fund: 0 - 200 participants 1,500.00 EUR 201 - 500 participants 2,500.00 EUR 501 - 1000 participants 5,000.00 EUR over 1000 participants 10,000.00 EUR Banking transfer 1000700010000130

Formulari nuk është në dispozicion