Moldovan official journal roundup for tomorrow

Chisinau, 17 December /MOLDPRES/- The promulgation decree and the Law on voluntary pension funds will be published in the Official Journal on 18 December.

The document sets out the legal framework on setting up and operating voluntary pension funds based on individual capitalized savings, requirements for organizing, licensing and activities of managers, rules on the storage of voluntary pension funds and supervisory powers of the entities.

The new law will replace the Law on non-state pension funds adopted in 1999, which is not functional and will enter into force at the expiration of 6 months from publication in the Official Journal.

The government together with the National Commission within 6 months from the publication of the law will present to the parliament proposals on bringing the legislation in accordance with the law. The National Commission within 6 months from the publication of the law shall adopt laws provided by the law. The government and the National Commission within 3 years from the entry into force of the law shall work out and present to the parliament the draft law on the organizing and functioning the voluntary pension payment.

Source: monitorul.gov.md