License for Individual Supplementary Pension - Individual Supplementary Pension Funds License

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 Individual Pension Fund. This procedure defines the conditions, requirements, procedures and deadlines to be followed for applying and granting a license to Individual Supplementary Pension Providers.

Përshkrimi: Those interested in licensing as Supplementary Individual Pension Fund (pension provider) 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 CBK, with 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 providers of Supplementary Individual Pension Funds and the internal acts of CBK. 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 the application is completed by the person concerned, the executive board of the Central Bank of Kosovo, within 90 days, decides for preliminary approval or rejection of application.

Baza ligjore

Vlefshmeria e lejes: Indefinite time period

Organi i ankimimit: Central Bank of Kosovo

Afati i ankimimit: 15 days

Informatat e kërkuara

  • Applicants information;
  • Information on economic activity of the Applicant;
  • Name and contact details of the audit firm for the Pension Provider;

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

Dokumentacioni i kërkuar

  • The founding act that establishes the legal entity that provides the pension; (Original)
  • The pension rules that specify the details of payment of contributions or benefits and the rules for early termination or cancellation, if any; (Original)
  • Proposed agreement with the holder or asset manager, if any; (Copy)
  • The list of signatories of the founding act along with information indicating whether those persons are related and the type of their relation; (Original)
  • Pension forms used by participants and beneficiaries; (Original)
  • Statements by members of the pension provider governing body that they agree to act as fiduciaries and meet the requirements set forth in this law; (Original)
  • CBK form; (Original)
  • Copy of the license and registration as a financial institution; (Verified copy)
  • Complete biographies of the founders, as well as financial statements if applicable; (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)
  • Organizational structure (organigram); (Original)
  • The Statute; (Original)
  • Copy of business registration as a pension provider; (Copy)
  • Business plan; (Original)
  • Pension plan; (Original)
  • Opinion of an independent/assigned expert confirming the existence of the assessment and certifying that the required contributions are adequate to pay pensions, in case of the Defined Benefit Pension Fund; (Original)
  • Description of categories of pensions that will be offered in the market, and a copy of the individual pension contract(s) or equivalent document(s) as evidence for individual''''s participation; (Original)
  • Overview of the risk management system provided by pension providers for functioning of the pension business;  Report of the pension provider for investment policy; (Original)
  • Report of the pension provider for investment policy; (Original)
  • List of participants indicating their professional categories, or statements of all Sponsor employees who will participate; (Original)
  • A document certifying that the proposed Pension Provider 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)
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 EURBanking transfer 1000700010000130

Formulari nuk është në dispozicion