Voluntary pension funds

The NBS’s primary objective in supervision of voluntary pension fund (VPF) management companies is a part of its general function of establishing a credible financial system. The NBS function in this segment of financial services is the provision of stability and market discipline of VPFs through the transparency of operations, adequacy of risk management systems and responsibility for operations of VPF management companies, as well as confidence in supervision.

The NBS will aspire to establish real transparency of operations, which will enable citizens to decide on the volume of risk they assume by becoming members of a particular VPF, in line with their priorities. In addition to ensuring the transparency of VPF operations, the creation of normative conditions and supervision of the NBS will be adequately transparent, with a view to enabling the expert, academic and general public to monitor the processes and in order to foster a relationship of mutual trust. The NBS will be governed by the principles of proactive protection of adequacy of VPF assets management, and principles of preventive supervision of VPF management companies in general.