Pension Insurance Contract

An agreement between an insured person (or an insurer) and a pension insurance company that regulates the conditions for participation in supplementary pension insurance. It specifies the rights and obligations of the parties, the amount and method of payment of insurance contributions, the rules for accumulation, management, and disbursement of funds, as well as the conditions for receiving pensions or other insurance benefits. The insurance contract serves as the basis for opening an individual account and guarantees the insured person access to the accumulated funds upon the occurrence of the circumstances stipulated by law or by the contract.