27. Jul 2001Ministry of Finance and Economic Affairs, Legislation, Economic affairs and public finances, Acts of Parliament
The Pension Act, No. 129/1997
27 July 2001
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Ministry of Finance and Economic Affairs
The Pension Act, No. 129/1997
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An Introduction
The Act on mandatory insurance of pension rights and on activities of pension funds – otherwise known as the Pension Act – was passed into law in 1997 and is intended to provide a comprehensive legal framework for all general pension funds whereby the rights of pension fund members are clearly defined, the obligations of pension funds, both as payers of pensions and investors, are spelled out and the transfer of members from one fund to another are facilitated without a loss of accumulated rights. In addition to the Pension Act, several pension funds – notably the Government Employees Pension Fund – are subject to special legislation