Umbrella Pension Fund Moj Steber

Supplementary pension insurance is the payment of premiums to  person holding accounts in order to obtain the right to an additional pension upon retirement. The amount of the pension from compulsory pension insurance was reduced due to the pension reform. By saving in the umbrella pension fund Moj Steber (UPF Moj Steber), you can make sure to obtain a certain compensation and thus have financial independence in the third age.

Entry costs: every time a premium is paid into the UPF Moj Steber, the manager charges entry costs according to the pension plan, which may not amount to more than 3% and may be reduced in the collective pension insurance depending on the number of included employees and on the method of provision of data on the paid premiums.

Management fee: calculated based on the average net annual value of the assets of each Sub-Fund of the UPF Moj Steber. For individual Sub-Funds, it is as follows:

- Moj Steber Guaranteed: 1%

- Moj Steber Balanced: 0.90%

- Moj Steber Dynamic: 0.85%

Exit costs: in the event of an extraordinary termination of insurance, the exit costs amount to 1% of the surrender value of the units. If the insured person remains a member of the UPF Moj Steber for at least 150 months, the exit costs are reduced to 0.75% of the surrender value of the units. Upon regular termination, the exit costs amount to 0.5% of the surrender value of the units. If the insured person remains a member of the UPF Moj Steber for more than 180 months, the costs are reduced to 0.35% of the surrender value of the units.

Other costs stated in the applicable KPS Moj steber Management Rules are also deducted from the pension fund's assets.

The total operating costs of the pension fund are calculated in accordance with the methodology set out in ZISDU-3 and are expressed as a percentage of the average annual net asset value of each subfund.

The premium payer (employer or member) has the right to claim the paid premium as a tax relief up to the maximum tax relief amount granted for the supplementary voluntary pension schemes.

In accordance with the legislation, the payer can claim the premiums paid as a tax relief. A natural person may claim relief for the paid premiums in their income tax return, and a legal entity may claim relief in payment of corporate income tax. In the event that the total amount of the premium paid by a member and an employer exceeds the maximum tax relief, the employer has priority in claiming the tax relief.

The payer has the right to claim the paid premium as a tax relief, but only up to the maximum tax relief amount granted for the supplementary voluntary pension schemes. The maximum amount of premium paid subject to tax relief is 5.844% of an individual's gross salary, or 24% of the compulsory pension and disability insurance contributions. This amount may not exceed the maximum tax relief amount granted for the supplementary voluntary pension schemes, which is laid down annually by the Ministry of Finance. In 2023, this amount was 2.903,66 EUR or 241,97 EUR per month.

In the event that the total amount of the premium paid by a member and an employer exceeds the maximum tax relief, the employer has priority in claiming the tax relief.

The members of the UPF Moj Steber can keep track of the current returns of individual Sub-Funds in the business newspaper Finance and on the operator's website. Clients using the online Banka IN can monitor the balance of their personal account of the supplementary pension insurance.

As the manager of the UPF Moj Steber, Banka Intesa Sanpaolo d.d. guarantees all paid net premiums and the minimum guaranteed return of the Sub-Fund Moj Steber Guaranteed. The statutory minimum guaranteed return is 40% of the interest rate determined by the Ministry of Finance on the basis of the applicable Rules on the Calculation of Average Yield. The manager guarantees a return above the legal minimum and 50% of this interest rate to the members of the Sub-Fund Moj Steber Guaranteed.

Such guarantee of the manager is not provided for the Sub-Funds Moj Steber Balanced and Moj Steber Dynamic.

The current account number of the Umbrella Pension Fund Moj Steber for the transfer of premiums to supplementary pension insurance has changed since 2021. The new account number is:

SI56 0400 1004 6641 954

Reference when transferring the premium for individual policyholders: 00 86-tax number of the policyholder
Reference when transferring the premium for collective policyholders: in accordance with the contract number linked to the employer who co-finances the pension scheme (check with the manager).

WARNING!
If the premium payment on the KPS Moj steber bank account is made on a non-working or holiday day (eg the last or penultimate day of the month) after the accounting day of the current month (ie the last working day), the paid premium is distributed on the policyholder's policy on the first following working day. Payments received after the accounting day are taken into account in the next accounting period and are converted into units using VEP (unit value) from the next accounting period.

The manager of the Moj steber Umbrella Pension Fund is Banka Intesa Sanpaolo d.d. The Securities Market Agency is responsible for supervising the management and operations of KPS Moj steber.

On July 21, 2023, changes to the Rules administered by KPS Moj steber and changes to the Pension Plan of collective supplementary pension insurance implemented by KPS Moj steber come into force.

Changes to the Management Rules that apply to all three sub-funds:
Supplementing the markets on which the manager invests the assets of the individual sub-fund with other recognized organized markets in the member states;
Added option to invest in real estate funds;
•    Change in the definition of investments that are classified as low or high-risk investments, for investments in units or shares of open investment funds.

Changes to the Management Rules relating to the Moj steber guaranteed sub-fund:
•    Change in the ratio between low/high risk investments to 70%-100% for low-risk investments and 0%-30% for high-risk investments;
•    Change in the investment limit in shares and other equity securities listed on the organized market up to 20% of the subfund's assets, to shares and other equity securities listed on the organized market of an individual issuer up to 5% of the subfund's assets, at the same time the total investment limit is increased in shares and other proprietary VPs up to 20%;
Change in the limit for investments in units or shares of open-ended equity investment funds up to 20%, in individual open-end equity investment funds up to 5% of the value of the subfund's assets.

Changes to the Pension Plan of collective supplementary pension insurance:
•    The amount of the employer's minimum annual payment is harmonized with the currently valid amount;
•    Added a sentence regarding the validity of the policy in the event that certain funds remain on the policy after payment and the employer continues to pay premiums. In this case, the policy remains in effect.

Rights of a member regarding the possibility of paying a supplementary pension and the possibility of transferring funds between KPS Moj steber sub-funds or transferring funds to another DPZ provider:

Regular termination of DPZ can occur when the insured person retires (when he / she is no longer included in the compulsory pension and disability insurance). The savings can be used in the form of a supplementary pension - an annuity paid by the payers of supplementary pensions (insurance companies or pension companies). In certain cases permitted by the ZPIZ-2 Act, the saved funds may also be withdrawn in a one-off withdrawal (the insured person may check the fulfillment of the conditions with the manager). In this case, we are talking about the Extraordinary Termination of the DPZ.

Once a year, the Insured has the right to choose another KPS My Pillar Sub-Fund, which may not be intended for a younger age group than the age group to which the Insured belongs.

An insured person may request the transfer of funds to a pension plan managed by another manager when his employment with the employer through which he is included in the collective insurance is terminated. Unless the employer enters into a DPZ with another manager.

The transfer of funds between the pension plan of the collective and individual DPZ is not allowed.