Employee Contributions: Employees allocate a portion of their monthly salary to a personal custodian account, accumulating authorized units within the fund. They also have the option to increase this minimum percentage through annual top-up investments.

Employer Contributions: Simultaneously, employers deposit a corresponding amount into their employees’ personal accounts. The specific contribution can be either a matching percentage or a fixed amount, depending on the company’s internal policy regarding private pension schemes.

Fund Governance: Ashid Asset Management Company, as the specially licensed entity contracted under a fiduciary agreement with participating companies, will manage the fund’s assets in accordance with the fund’s governing documents and investment mandate.

The Board of Directors (BOD) will be appointed to the special purpose company, which serves as the legal vehicle for the fund under Mongolia’s Securities Law. The BOD’s primary responsibility is to oversee fund managers and advisors, ensuring adherence to governing documents and effective implementation of policies and strategies. The BOD will consist of non-executive directors elected by employees. The

Custodian bank will maintain separate accounts for the fund’s assets, distinct from those of the Asset Management Company. It will provide accurate shareholding reports to unitholders, aligning with timely reconciliation of fund accounting, including net asset valuation.

Additionally, the Financial Regulatory Commission, in its regulatory capacity, will oversee relevant policies and procedures, monitoring AMC’s compliance with legal rules, including those related to fund investment activities.

Employees will own their personal savings, including applicable returns from the fund’s investments. These savings can be accessed through the redemption of units after a specified period.

The vesting period is automatically considered complete when an employee reaches retirement age.

In the event of premature resignation or loss of working capacity, employees have specific options available to them. These options align with the provisions set by their employer’s participation in the fund.

Adjustments may apply to the accumulated fund (employer contribution only), including claw-back provisions due to termination of employment resulting from disciplinary action.