About the members

In accordance with the Law on Mandatory Fully Funded Pension Insurance, the Company shall, once a year (no later than 31 March and regarding the status as per 31 December of the previous year) deliver a reporton the voluntary personal/professional account balance, at the home address of members/retired members of the Voluntary Pension Fund it manages.

In addition, KB First Pension Company allows you an insight into your funds at any time, using one of the following ways:

1. Telephone call 02/ 32 43 772 or 02/ 32 43 777(every working day from 8:00 to 16:00 h) that will enable you to get instructions on the quickest way to check your account;
2. Online check;
3. In writing (complete a Request for a voluntary individual/professional account balance statement, sign it in your own handwriting and deliver it to our address: Mitropolit Teodosij Gologanov no.6, 1000 Skopje, personally or by mail);

The Company does not charge any fee for performing the above services it offers to its members.

Please note that you have the opportunity to receive your legal and other notices by electronic mail (e-mail). All you have to do is fill in the  Form notifying a member by e-mail. The filled-in and signed form can be submitted scanned by post to KB First Pension Company AD Skopje at the following address: 6 Metropolitan Teodosij Gologanov st., 1000 Skopje or in person at any of the branches of Komercijalna Bank AD Skopje and Sparkasse Bank AD Skopje listed on our website in the „Sales Network“.

Besides the regular annual reporting on the voluntary individual/professional account balance, KB First Pension Company shall also, at least once a year, inform members and retired members of the Mandatory Pension Fund it manages on the:

• Yield of KB First Open Voluntary Pension Fund – Skopje;
• Fees and transaction commissions charged;
• Value and share of Pension Fund’s assets in individual classes of assets;
• Type and issuer of the respective security.

This information shall be delivered together with the voluntary individual/professional account balance statement (no later than 31 March regarding the balance as per 31 December for the previous year), but also at the request of a member/retired member, and it shall be published on the Company’s website.

The rights of members of KB First Open Voluntary Pension Fund – Skopje are defined by the Law on Voluntary Fully Funded Pension Insurance

Such rights refer to:
The right to use pension benefits from the assets accumulated on an individual/professional account acquired as early as 10 years before reaching the age of old-age pension acquisition in accordance with the Law on Pension and Disability Insurance, and no later than the age of 70.

The method of using their pension benefits shall be personally selected by members from among the following options:

1. Programmed withdrawals
2. One-off or multiple payments
3. Annuities
4. Combination

If the amount found in a member’s account is less than the amount prescribed by the Agency for Supervision of Fully Funded Pension Insurance, the member shall be entitled only to the retirement benefits in the form of either one-off or multiple payment of the total amount on his/her account.

The provision of annuities and programmed withdrawals shall be regulated by a special law regulating the payment of pensions and pension benefits from the fully funded pension insurance. Until the application of this Law, the payment of retirement benefits shall be executed through a one-off lump sum paid from a member’s account.

In case of death of a member – the funds from his/her individual and/or professional account shall become part of his/her estate and such funds shall be handled in accordance with the Law on Inheritance.

When a member is assessed as generally incapable of work by the PDIF Commission assessing Work Capacity, he/she shall be entitled, irrespective of his/her age, to choose one of the retirement benefits options listed above.

In order to achieve a long-term and quality relationship with the members of the Fund it manages, KB First Pension Companyhas established a procedure for receiving, processing and responding to all inquiries, observations, comments or complaints by you. We believe that if there are any misunderstandings, we will solve them and maintain the confidence of membersonly in this way.

If you have any complaints about any part of the work of KB First Pension Company AD Skopje, please fill out the Complaints Form, sign it in your own handwriting and deliver it to the address of the Company, by mail or in person at our premises at the following address:
KB First Pension Company AD Skopje, Mitropolit Teodosij Gologanov no.6, 1000 Skopje.

You can also send the Form to the Company via fax or electronically, contacting the Company by e-mail.

KB First Pension Company shall consider the Complaint and send a response to every Complaint received, at the member’s home address.

For proper and timely delivery of regular statements regarding your voluntary individual and/or professional account, or regarding any other legal notices that the Company shall deliver at your contact address, it is of special importance for your data to be completely accurate and timely updated in the Members Register of the Voluntary Pension Fund managed by KB First Pension Company AD Skopje.

Accurate data will allow us to have a timely, regular and effective communication with each of you.

Personal data of a member in the Voluntary Pension Fund are updated and corrected by a person authorized by the Company or by an agent by means of direct inspection of a personal identification document of the person requesting changes in their data. Any additional information on the procedure of updating or correcting personal data through a Company representative may be obtained on the Company contact telephone numbers.

Starting from 14.04.2020, in compliance with the changes of the law regulation, a simpler way of updating/correction of personal data is available.

The updating/correction of a personal data shall be made by fulfilling a form  Updating/correction of data request, which shall be electronically delivered to the company at  contact@kbprvo.com.mk. The company shall make the changes cited in the request by a telephone conversation and a confirmation by the client.

Data related to residential and/or correspondence addresses of members may be updated / corrected via telephone, by contacting the Company on its contact telephone numbers.