The amount of the fixed-term pension from the UBB Professional Pension Fund is determined by:

• the amount and regularity of the contributions that enter the insurance account;
• the amount of charges and deductions;
• the investment return;
• the technical interest;
• the duration of the early retirement pension.

Before becoming entitled to a pension from the UBB PPF, insured persons are entitled to the following payments:

• a lump-sum payment of up to 50% of the amount accumulated in the account in case of a permanently reduced working capacity exceeding 89.99%;
• a lump sum or deferred payment to the insured person's legal heirs - subject to the respective application of Article 3, Article 4, para. 1 and Art. 5 - 10a of the Inheritance Act.

The choice of pension fund is personal. Each person who is subject to pension insurance has only the right to choose which fund to be insured in. The insured person shall submit an application and a participation contract to the pension insurance company within three months of becoming liable.

If the person does not choose the pension company which will manage his/her professional pension funds within three months of starting his/her first job, he/she will be assigned administratevely to one of the professional pension funds operating in the country, where his/her compulsory professional pension contribution will be paid.

Change of participation in another PPF

The right to transfer to a PPF managed by another pension insurance company arises after the expiry of 1 year after the conclusion of the insurance contract or the date of the administrative allocation.
The grounds for changing the participation and for transferring the accumulated funds of an insured person from one professional pension fund to another professional pension fund arise when:

1. Expiry of the statutory time limits after which the person may change his/her participation in the fund.
2. Disagreement with the changes made to the regulations on the organisation and operation of the fund. A change in the regulations resulting from a change in the regulatory framework (i.e. not initiated by the pension company itself) or a change in the registered office or registered address of the pension company is not grounds for disagreement and, respectively, for a change of the fund (Article 171(3) of the CSR).
3. Disagreement with changes made to the investment policy of the pension fund.
4. Conversion or dissolution of the pension insurance company or of a separate fund.

The new choice and the change of participation in the additional mandatory pension funds of UBB Pension Insurance can also be made through an electronic process, where through a qualified electronic signature and assistance from an insurance intermediary of UBB Pension Insurance, customers can sign the necessary documents - quickly, easily and securely!

Change of insurance from PPF to State Social Security's Pension Fund

It is possible to change the insurance from the PPF to the Pension Fund of the State Social Security. If you change from the PPF to the Pension Fund of the State Social Security, the 7% and 12% contributions are paid into the Pension Fund and not into an individual insurance account. The individual coefficient used to calculate the Social Security pension is not reduced for the years during which the person was insured in the PPF.