Inheritance of funds

In accordance with the Law on Mandatory Fully Funded Pension Insurance, funds from the individual account of the deceased member may be inherited in the event that the deceased member does not have family members who are entitled to a family pension in accordance with the Law on Pension and Disability Insurance. The integral text of Article 66 paragraph 3 of the Law on Mandatory Fully Funded Pension Insurance is presented below:

"In the event that the deceased member of a mandatory pension fund does not have family members who are entitled to a family pension in accordance with the Law on Pension and Disability Insurance, the funds from that member's account become part of the estate of the testator and these funds are handled in in accordance with the Law on Inheritance. Until then, the member's account remains open and those assets are converted into accounting units and are invested in the same manner as the other assets of the mandatory pension fund by the company. After the transfer of assets, the company closes the individual account of the deceased member. "