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NEWS - 6. August 2018 15:55

AS SEB Varahaldus announces amendments to the prospectus of voluntary pension funds

AS SEB Varahaldus (SEB Varahaldus) announces amendments to the prospectus of the SEB Balanced Pension Fund and the SEB Active Pension Fund. The new prospectus will enter into force on 6 August 2018.

The prospectus is amended in relation to the implementation of amendments of 7 June 2017 to the Estonian Central Register of Securities Act and other related laws, in accordance with which AS Pensionikeskus as a registrar of units of voluntary pension funds is obligated to, by no later than 1 September 2018, introduce unit-holder’s pension accounts to keep the pension fund units in the pension register (i.e. nationally transfer units of voluntary pension funds from the former securities accounts to pension accounts) (see subsection 563 (2) of the Estonian Central Register of Securities Act). According to the schedule approved by AS Pensionikeskus, the transition to pension accounts will take place from 6 August 2018, when the units of voluntary pension funds will also be registered in addition to units of mandatory pension funds on the pension accounts and the existing units of voluntary pension funds will be transferred from the former securities accounts to pension accounts. In relation to the transition to pension accounts, the technical solution for unit transactions will also change.

For the above reasons, the following chapters of the prospectus will be amended: 7.1 ‘Osakute väljalase’ (Issue of units), 7.2 ‘Osakute tagasivõtmine’ (Redemption of units), 7.3 ‘Osakute pärimine’ (Succession of units), 7.4 ‘Osakute vahetamine’ (Exchange of units), and 8.1 ‘Osakute väljalaskel ja tagasivõtmisel võetavad tasud’ (Fees for the issue and redemption of units). Therefore, the prospectus will be amended only in the extent that is necessary due to changes made in the legislation or that does not affect the rights and obligations of unit-holders.

The amended prospectus will enter into force on 6 August 2018. If AS Pensionikeskus does not transfer units of third pillar pension funds to pension accounts by that date for technical reasons, SEB Varahaldus will announce the new date for the introduction of the amended prospectus, which is not later than 1 September 2018.

Amendments to the prospectus have been submitted to the Financial Supervision Authority for information. The amended prospectus is available on SEB’s website at https://www.seb.ee/eng/savings-and-investments/investments/investment-funds and SEB branches all over Estonia. For more information on amendments made to the prospectus and their importance, please contact us at 665 5100 or by e-mail at .

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