Umbrella Pension Fund Moj Steber

Voluntary supplementary pension insurance is the payment of premiums to  person holding accounts in order to obtain the right to an additional pension upon retirement. The amount of the pension from compulsory pension insurance was reduced due to the pension reform. By saving in the umbrella pension fund Moj Steber (UPF Moj Steber), you can make sure to obtain a certain compensation and thus have financial independence in the third age.

Entry costs: every time a premium is paid into the UPF Moj Steber, the manager charges entry costs according to the pension plan, which may not amount to more than 3% and may be reduced in the collective pension insurance depending on the number of included employees and on the method of provision of data on the paid premiums.

Management fee: calculated based on the average net annual value of the assets of each Sub-Fund of the UPF Moj Steber. For individual Sub-Funds, it is as follows:

- Moj Steber Guaranteed: 1%

- Moj Steber Balanced: 0.90%

- Moj Steber Dynamic: 0.85%

Exit costs: in the event of an extraordinary termination of insurance, the exit costs amount to 1% of the surrender value of the units. If the insured person remains a member of the UPF Moj Steber for at least 150 months, the exit costs are reduced to 0.75% of the surrender value of the units. Upon regular termination, the exit costs amount to 0.5% of the surrender value of the units. If the insured person remains a member of the UPF Moj Steber for more than 180 months, the costs are reduced to 0.35% of the surrender value of the units.

The premium payer (employer or member) has the right to claim the paid premium as a tax relief up to the maximum tax relief amount granted for the supplementary voluntary pension schemes.

In accordance with the legislation, the payer can claim the premiums paid as a tax relief. A natural person may claim relief for the paid premiums in their income tax return, and a legal entity may claim relief in payment of corporate income tax. In the event that the total amount of the premium paid by a member and an employer exceeds the maximum tax relief, the employer has priority in claiming the tax relief.

The payer has the right to claim the paid premium as a tax relief, but only up to the maximum tax relief amount granted for the supplementary voluntary pension schemes. The maximum amount of premium paid subject to tax relief is 5.844% of an individual's gross salary, or 24% of the compulsory pension and disability insurance contributions. This amount may not exceed the maximum tax relief amount granted for the supplementary voluntary pension schemes, which is laid down annually by the Ministry of Finance. In 2019, this amount was 2,819.09 EUR.

In the event that the total amount of the premium paid by a member and an employer exceeds the maximum tax relief, the employer has priority in claiming the tax relief.

The members of the UPF Moj Steber can keep track of the current returns of individual Sub-Funds in the business newspaper Finance. Clients using the online Banka IN can monitor the balance of their personal account.

As the manager of the UPF Moj Steber, Banka Intesa Sanpaolo d.d. guarantees all paid net premiums and the minimum guaranteed return of the Sub-Fund Moj Steber Guaranteed. The statutory minimum guaranteed return is 40% of the interest rate determined by the Ministry of Finance on the basis of the applicable Rules on the Calculation of Average Yield. The manager guarantees a return above the legal minimum and 50% of this interest rate to the members of the Sub-Fund Moj Steber Guaranteed.

Such guarantee of the manager is not provided for the Sub-Funds Moj Steber Balanced and Moj Steber Dynamic.