OREANDA-NEWS. By its Order No. OD-3004, dated 2 November 2015, Bank of Russia cancelled licence to carry out pension provision and pension insurance of the Non-governmental Pension Fund Tikhy Don (PSRN: 1026103277551; TIN: 6164069394).

The reason to take the extreme measure was failure to comply with Bank of Russia Instruction to remedy violations of requirements of the federal laws, resulting in the ban to carry out certain operations.

Due to the cancellation of the licence, by its Order No. OD-3006, dated 2 November 2015, Bank of Russia appointed a provisional administration to manage Non-governmental Pension Fund Tikhy Don.

The Bank of Russia will indemnify the policy holders their pension savings in the amount and under procedure stipulated by the Russian legislation.