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  • a)

    Name of the fund;

  • b)

    The conditions under which pensions shall be due;

  • c)

    The conditions for the transfer of the fund units of a participant to

another pension fund, specifying the penalties as and where applicable;

  • d)

    Indication of the amount of applicable charges;

  • e)

    A declaration of acceptance of the fund management regulation.

Article 20 (Collective membership of open pension funds)

  • 1.

    Associates may effect a collective membership to an open pension fund by means of an initial subscription to the fund units.

  • 2.

    Pension plans, which are financed by means of collective membership of an open pension fund, can be one of the following types: defined contribution, defined benefit or mixed.

  • 3.

    When the fund units are first purchased, every associate shall sign a contract of membership to the pension fund with the management company, which shall compulsorily contain the following information:

    • a)

      Name of the fund;

  • b)

    Name and address of the associates;

  • c)

    Indication of the persons who can be participants, contributors and

beneficiaries of the fund;

  • d)

    The pension plan or plans to be financed;

  • e)

    The rights of participants when they are no longer covered by the

fund, without prejudice to the provision of Article 9;

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