“People with retirement annuity agreements are granted by the Law the right to renegotiate this agreement on new terms. The balance of insurance premium under the new retirement annuity agreement in the insurance company must not be less than the minimum insurance premium sufficient to ensure payment of 70% of the subsistence minimum. The amount exceeding this threshold is returned to the UAPF,” the ARDFM release informs.
The resolution defines the rules for transferring a part of insurance premium exceeding the minimum cost of retirement annuity agreement from a life insurance company to the UAPF.
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