The supplementary pension fund is unveiled/ the entry of sustainable resources into the capital market through this fund
According to Tejarat News, at the same time as the government week, from the supplementary pension fund in the presence of Ehsan Khandozi, Minister of Economic Affairs and Finance, Seyyed Solat Mortazavi, Minister of Labor and Social Welfare, members of the Supreme Council of the Stock Exchange, members of parliament, head of the Stock Exchange Organization, managing directors of the capital market pillars and Other relevant officials will be unveiled.
The supplemental pension fund is designed for the financial empowerment of people at the time of retirement, and its unveiling ceremony will be held tomorrow afternoon (Wednesday) by the Securities and Exchange Organization.
The entry of continuous and stable resources into the capital market through the supplementary pension fund
Ali Akbar Iranshahi, Head of the Investment Funds Monitoring Center of the Stock Exchange Organization, referring to the news of the unveiling of supplementary pension investment funds, said: Pension funds provide a solution to cover the expenses of people’s retirement period.
He added: According to the mechanisms defined for retirement plans, the individual makes payments in specific time periods during his working life, and these amounts in a long-term period increase the value of the income stream at a certain time during the retirement period for the individual. he does.
While emphasizing the benefits of launching these funds for the capital market, Iranshahi stated: Considering that additional retirement investment funds are created with small resources, they will bring stable and continuous resources into the capital market and will also greatly contribute to the financial empowerment of people at the time of retirement. .
He pointed out that in line with its social responsibility, the organization has approved the structure, statutes and prospectus of supplementary pension funds, and said: these funds, as a transparent tool in the capital market, bring sustainable resources into the capital market and also help the employer maintain itself in the long term; Because it creates a sense of satisfaction and gratitude in employees and increases the loyalty of human capital and organizational productivity.
Emphasizing that we are seriously pursuing tax exemptions and creating incentives for these funds, Iranshahi said: the minimum capital of the funds is 5000 billion Rials, the minimum number of investors is 500 people, and the minimum total value of premium investment units is 100 billion Rials.
According to the head of the Investment Funds Monitoring Center of the Stock Exchange Organization, the registered capital of the manager of the supplementary retirement investment fund or the legal entity under his control should be at least 1000 billion Rials; Also, the structure of the fund is based on issuance and cancellation.
He added: In terms of asset composition, the fund consists of stocks with an index feature or “fund within a fund”.
Referring to the fact that the fund has 3 types of normal investment units, Iranshahi said: the first type of normal investment units include units that are issued according to the employer’s name in the name of the employer and with a payment equal to or a percentage of the amount of the second type of normal investment units. The second type of normal investment units include the units that are issued in the name of the workforce according to the employer’s announcement.
He continued: Also, the third type of normal investment units include units that other investors can purchase according to the subscription procedure for issuance and cancellation of investment units, in compliance with the provisions contained in the fund’s articles of association and prospectus, at the time of subscription or during the fund’s activity. It’s kind of like life insurance.
The head of the Investment Funds Monitoring Center of the Stock Exchange Organization stated: The first and second type of normal investment units can be canceled at any time based on the employer’s request. The resources resulting from the cancellation of investment units of the first type in cases such as retirement or total disability, to the workforce and at the time of the death of the workforce to his heirs and at the time of termination of cooperation according to the procedure of the agreements of the workforce and the employer to the employer or all or part of It belongs to the workforce.
He said: The resources resulting from the cancellation of the second type of normal investment units in cases such as retirement from total disability during or termination of cooperation will be allocated to the workforce and to his heirs at the time of death.
In the end, Iranshahi acknowledged regarding the relationship between the employer and the workforce: a procedure for agreements between the employer and the workforce should be developed and approved by the fund manager and sent to the organization and kept with the organization.
Source: Senate