KB First Open Mandatory Pension Fund – Skopje

SECOND PENSION PILLAR – MANDATORY FULLY FUNDED PENSION INSURANCE

KB First Open Mandatory Pension Fund – Skopje (abbreviated name, First Mandatory Pension Fund) is the name of the mandatory pension fund established and managed by KB First Pension Company AD Skopje.

First Mandatory Pension Fund consists of the funds paid from the contributions of its members, according to the calculation and payment of fees, and investment yield.

Owners of the First Mandatory Pension Fund are its members and retired members, while their individual ownership rights are determined by the assets on their accounts in the Fund.

Assets of the First Mandatory Pension Fund are completely segregated from the assets of KB First Pension Company AD Skopje and are entrusted with a Custodian Bank. This is of paramount importance to achieving a high level of asset security.

Assets of the First Mandatory Pension Fund may not be subject to claims, nor may such assets be enforced by KB First Pension Company’s creditors or on their behalf.

The investment of First Mandatory Pension Fund’s assets is carried out in accordance with strict rules of law and other regulations in the area of mandatory fully funded pension insurance, as well as in line with the investment strategy and  tactics of the Fund, in order to maximize the yield solely to the benefit of its members and retired members, and to minimize the risk of losses through diversification and financial analysis. First Mandatory Pension Fund’s assets managed by the Company are invested under the contionuous supervision of the Agency for Supervision of Fully Funded Pension Insurance – MAPAS.