Encyclopedia 

Where is it better to store retirement savings. Which is better: to leave the pension in the Pension Fund or in the NPF? If you decide that you will transfer funds to an NPF

Formation needs to be approached wisely. Therefore, before signing the documents, it is worthwhile to study the history of the company in detail and find out the investment conditions. Only public or private PFs can accumulate funds. For more details on the conditions under which Sberbank is serviced, read on.

NPF SB

Sberbank is the largest financial group in Russia, which includes not only a credit institution, but also NPFs. The latter was formed in 1995. He received a license to carry out activities with pension savings only in 2009. The Foundation provides the following services:

1. Non-state pension provision for individuals.

2. Insurance for such compulsory programs:

  • investment of accumulated funds;
  • payment of one-time, periodic or lifetime benefits;
  • co-financing of savings under state programs.

In 2013, the number of citizens who transferred their savings to the NPF SB amounted to 1 million people. And after a year and a half, this figure has doubled. The total amount of savings in 2013 is 72 million rubles. The total return on investment for the previous 4 years was 52%, the average inflation rate was 33.88%.

Conditions

The funded part of the pension in Sberbank will bring more income, since the organization has a little wider opportunities in comparison with other similar institutions. To transfer funds to NPF, you must:

  • apply to the branch of the organization with a passport and SNILS;
  • sign an agreement;
  • write an application to the state PF to transfer funds to a private fund.

Payment of benefits through Sberbank

The funded part of the pension can be transferred to the NPF once a year. Having chosen Sberbank as the organization for the accumulation of funds, the client can count on the fact that he will not have to stand in line waiting for the next payment. All funds can be transferred directly to the Sberbank card. To register the service, you must contact the department with a passport and certificate, fill out a special form, receive payment details and notify the PF about the transfer of labor pension using new details. After that, customers can cash out through any nearest ATM, view their balance on the Internet, set up SMS notifications about the movement of amounts on an account opened with Sberbank of Russia.

The funded part of the pension is in question

In 2015, a lot of controversy was caused by the government's desire to abolish the accumulation of contributions. According to the Ministry of Finance, this measure will bring income to the budget in the amount of 370 million rubles. a year, but then the source of long-term money will disappear: NPF and Vneshtorgbank, which manages savings on behalf of the state, invested 3 trillion. rub. to domestic companies.

Economists immediately panicked. Cancellation of the funded part would lead to a decrease in the replacement rate to 25% in 10 years. The insurance pension is indexed at the expense of budgetary funds, which may not be enough by 2018. As a result of such a reset, the amount of payments to pensioners will be reduced. The FIU can no longer cope with the load. Half of the payments are financed by the federal budget. The difficult demographic situation in the country, the early retirement of Russians (55 and 60 years old versus 63-64 in the EU countries), as well as the high proportion of the shadow one only increase the burden on NPFs. This means that transfers from the federal budget will also grow.

Arguments

The only reason for the change may be a negative real return on investment. Over the past 5 years, the profitability of Vneshtorgbank amounted to 28.9%, and the inflation rate - 46%. Constant crises in the country only exacerbate the situation. According to the comments and reports of sociologists, people do not trust NPFs and change them one by one every year. As a result, organizations have to revalue assets. They simply have no opportunity to invest in long-term projects.

Citizens began to worry that the government was trying to skimp on their future income. But economists insist that this is not the case. The accumulative part, which is formed within 6%, will be directed to replenish the insurance payment. The Russians only need to contact the PF branch and write an application for the transfer of funds. One of the organizations that can receive the funded part of the pension is Sberbank. Customer reviews confirm that sometimes they have problems even with the design of such a simple procedure. Applications are considered for a very long time, and sometimes money does not come to the account on time.

Structure

Many people still do not know how the future pension is formed. Outwardly, the formula looks very scary and incomprehensible. But it's worth understanding it. It consists of three terms:

  • the insurance part is formed at the expense of monthly deductions from salaries (C);
  • basic pension, which a person will receive in any case, if he has worked at least a little in life (B);
  • the accumulated part is 6% of the salary (H). A person can dispose of this amount independently by choosing an organization that will collect funds. It can be an asset management company (MC) or NPF. You can, for example, transfer funds to Sberbank. The transfer of the funded part of the pension is made out directly at the branch of the credit institution.

These three terms are then multiplied by special coefficients that depend on seniority, salary and other nuances. As a result, the formula looks like this:

Pension = K1 x B + K2 x C + K3 x N.

The government proposed to change the coefficient of the third term to "0".

As the reviews say, not all Russians have a funded part of their pension in Sberbank or another NPF. There is a category of citizens who chose not to transfer funds from Vneshtorgbank. For such "silent" people, the government can transfer the funded part of the pension to the insurance one. As a result, deductions will increase from 16% to 22%. The total amount of the pension will also change, but not necessarily downward. This is the essence of the new reform. So far, it has been rejected. But, perhaps, in the future, the question of its adoption will be raised again.

Major maintenance issues

On the forums, you can find a large number of complaints about the lengthy paperwork procedure. If a person wants to transfer funds from a public to a private PF or MC, then he must write an application to both structures by December 31 of the current year. Upon completion of the process, a notification is sent about the amount of debited and received funds to the NPF Sberbank. The funded part of the pension, the percentage of deductions for which at the moment is 6%, must be transferred by March 31 of the next year. But user reviews say these deadlines are often violated. Here you can only advise one thing: after the time has elapsed, call both organizations and find out what happened to the money. Judging by the comments of pensioners, no less problems arise when funds are transferred from Sberbank to another NPF. The same rule applies here as in the previous condition. The funds must be transferred by March 31 next year. So, if a client submitted an application in April of this year, he will have to wait 11 months.

According to the financial statements, the average annual profit level of NPF SB is 5-6%. But the fund has many investment programs, and it is not a fact that all of them will bring profit. In addition, individuals often change their NPFs. For such clients, the funded part of the pension in Sberbank cannot be invested on a long-term basis. Feedback from Russians confirms that according to the results of 2011-2012, the return on savings was 0%. During these years, the dissatisfied population transferred funds en masse to other NPFs.

The funded part of the pension at Sberbank: customer reviews

After analyzing the comments of Russians regarding the quality of the services provided and the level of information availability, we can highlight the following main advantages of cooperation with the organization:

  • The minimum package of documents. To conclude a contract, you only need a passport and SNILS.
  • Registration speed. The client can write an application at any of the nearest branches of the bank. And in a few days the employees will call back and appoint a time to sign the contract.
  • Access to the information. The account balance can be viewed through the "Personal Account" on the NPF website.

Disadvantages (judging by the feedback from the organization's clients):

  • the time for preparing a certificate of investment results is 30-60 days;
  • frequent technical failures in the system;
  • NPF SB works profitably, but does not break profitability records.

Output

Russians can independently choose which organization will be engaged in the accumulation of the funded part of their pensions. One of the largest NPFs in the country was established by Sberbank in 1995. As of 2013, 1 million Russians entrusted him with their pension savings. The institution is operating profitably. Clients' opinions on the organization's activities leave much to be desired. Most of the clients' complaints are related to the long term for receiving statements on the results of investment of funds and the lengthy procedure for processing a transfer from one NPF to another.

After changing the pension reform, every citizen of the country has a question: "Should I leave my savings in the Pension Fund or go to one of the NPFs?" Before making such a choice, you need to analyze the work of both structures by studying the ratings of NPFs, reviews and other characteristics in order to make the right decision. And this material will help in solving the question posed in the form of a comparative analysis.

Where can you transfer?

Part of the pension is transferred to organizations such as:

  • Management company (hereinafter referred to as the MC);
  • Non-state pension fund (hereinafter referred to as NPF);

In addition, a citizen has the right to leave everything as it is without transferring funds to the above organizations - in this case, the pension capital will remain in Vnesheconombank (hereinafter VEB), which is engaged in the minimum preservation of future pension capital.

At the moment, the funded part is frozen for an indefinite period! All deductions from the employer are automatically transferred to the insurance part of the pension!

However, which option is best applied in practice?

Let's analyze the most common options:

In addition, there are such disadvantages as: there are no guarantees in receiving the accumulated funds upon retirement, because part of the funds is constantly burned out due to inflation; the accumulated funds are not subject to inheritance to a specific person.

  1. Transfer to NPF. Such actions of a citizen will be more acceptable because:
  • investment profit for the reporting year averages up to 15% - the percentage is directly related to the basic characteristics of a particular fund, for example, the rating, profitability, and reliability of the fund are taken into account;
  • inheritance;

However, there is also limitations in the activities of NPFs such as:

  • the risk of NPF disbandment by the state after changes in the pension reform;
  • unstable interest rates that are not fixed in the contract.

Therefore, when choosing one or another NPF, it is worth considering the important criteria of the fund, including:

  • Profitability level over the past few years or over the entire period of existence of a particular fund.
  • Reliability- is included in the rating of the organization. It has a scale of five classes: A, B, C, D, E. The highest is class "A", it is divided into additional levels, for example, AAA is an indicator of the highest level of fund reliability. Further, the levels are reduced to one letter "A", which simply means the high reliability of the NPF. Similar levels apply to other letter values.
  • Availability of NPF license- stored on the official website of the NPF.
  • Financial statements.
  • Number of contributors.

In addition, it is advantageous to choose one or another NPF if there are more than 10 years before retirement, otherwise the size of pension savings will not increase significantly.

Comparative analysis

In order to make it easier to carry out a comparative analysis, we present all the positive and negative characteristics in the form of a table:

Positive characteristics
FIU NPF
Reliability (FIU cannot go bankrupt) Higher interest rates
Cash savings are not taxed Invest assets only in profitable investments
Investment performance stability High reliability rating that can change annually
State liability to depositors Inheritance
Availability of GPT agreement
Comply with the principle of risk diversification, which contributes to the safety of savings
Negative sides
FIU NPF
Low interest rate In case of bankruptcy, the depositor receives only the basic part of the savings, without interest
Investment restrictions It is necessary to consistently monitor the performance of NPFs
Low level of profitability Long-term perspective
Bankruptcy, license revocation at the discretion of the state

Based on the results of the analysis, it can be concluded that NPF is a more profitable, but at the same time more risky, direction for the formation of a part of the future pension. However, it is NPFs that are able to significantly increase the amount of invested funds.


 Let's give an example for comparison:
Analysis of the invested capital over 20 years in the Pension Fund with an annual return of 7% and a thriving NPF with an annual income of 9 - 12%. For the calculation, let's take the amount of 10,000 rubles per year.
Payment:

  1. When transferred to an NPF, the final income in 20 years will be 630,025 rubles. For this, the NPF simply increases the amount of 10,000 rubles by 10% every year.
  2. If the funds are saved in the Pension Fund, the total amount will be equal to 438652 rubles (the amount of 10,000 rubles annually increases by 7%).

Which is more profitable - the Pension Fund or the NPF of Sberbank?

For example, we will give the basic characteristics of the Pension Fund and NPF of Sberbank, so that a future investor can easily make a decision in favor of a particular fund.


And let's start with the characteristics FIU:

  • according to the latest data, the income level for the expanded portfolio was 11.54%, and for the government securities portfolio - 11.68%;
  • net profit is 14.94 billion rubles;
  • in the amount of 4.38 trillion rubles;
  • the size of the reserve fund - 290 billion;
  • has been operating on the market since 1987;
  • carries out licensed activities;
  • state authorities are the founders of the bank;
  • the company has not been seen in questionable transactions for the entire period of its existence.

The difficult economic situation affected the profitability of VEB, so you shouldn't expect high performance in 2017!

Now let's move on to the data. NPF Sberbank:

  • net profit is 3.9 billion rubles;
  • yield - 13% per annum;
  • capital - 2.7 billion rubles;
  • assets - 261.6 billion rubles (increased by 3 times in comparison with last year);
  • reserve funds - 695 million;
  • the highest reliability rating;
  • have been working for over 20 years;
  • leader in the OPS market among NPFs;
  • market share among NPFs - 16%;
  • the number of insured persons is 4.2 million.

If you are faced with a choice which NPF is more reliable, see this video for more information.


In order to make a choice in favor of the FIU or NPF, it is important to know the basic criteria that are worth paying attention to. For example, it is worth analyzing the rating of the main NPFs, the level of reliability and other important indicators of the funds. However, many citizens of the country have not yet entrusted their savings to any of the funds. As a result, the funds are in the Web, which, as it turned out, is not very profitable. Therefore, in our material, we carry out a comparative characteristic so that each citizen could easily choose a state or non-state fund to preserve pension savings.

Reading time ≈ 3 minutes

Before deciding on a management company, you should carefully familiarize yourself with its capabilities and reliability. Thus, it is believed that NPFs of large industrial giants are much more reliable than other non-profit organizations of this type. There is a certain risk here - large structures are trying to get rid of non-core assets as quickly as possible so that possible falls in the stock market do not provoke additional risks.

Therefore, you should carefully study all the documents of the selected fund, often with the help of a specialist. The rating of NPFs 2017/2018, compiled by the Central Bank, will help to figure out where to transfer the funded part of the pension with the greatest benefit and the least risks:

NPF rating 2017/2018 compiled by the Central Bank

Benefits of transferring pension savings to NPF

All of these organizations are better than the government structure due to their high degree of profitability. Since the Russian pension fund has no right to invest in non-state enterprises and projects, its interest rate is much lower than in other institutions. For example, according to the Central Bank, at the end of 2017, the Pension Fund showed only 7% growth in capital investments, while Sberbank provided statistics of 13%.

This is an important factor for retirees who want to improve their well-being by investing their own funds in various projects.

Knowledge about funded pension

Translation size, required documents and indexing

Since it is not divided into parts, the size of the transfer can be found in your personal account on the PFR website or by personal contacting the nearest branch of the organization. In this case, the following documents must be submitted:

  • an application in the prescribed form for the transfer of funds to the NPF;
  • passport;
  • pension card;
  • insurance policy on pension payments;
  • details of the account to which the NPF will deduct payments.

 How to manage your funded pension

All non-state pension funds are obliged once a year in August to accumulate savings in accordance with the inflation rate. But not lower. The percentage depends on the total amount of capital investment and the profitability of the organization that manages these assets. That is, the more profitable the management company has invested the funds collected by future retirees, the more interest will be added to the already paid allowances.

Choosing a pension option

Until December 31, 2015, citizens born in 1967 and younger must choose a pension option for themselves - leave only the insurance part of the pension and abandon the funded one, or keep both parts of their future pension.

Pension options

Insurance part is the basic form of state pension provision. The pension is guaranteed, but its size depends on the situation in the country at the beginning of payments, primarily on the ratio of the number of working citizens and pensioners and on the situation with the state budget.

Accumulative part- these are compulsory pension savings, which are managed by professional market participants in the interests of the future pensioner.

Combination of funded and insurance parts allows you to form the most reliable pension option. Such a “combined” pension consists of at least two elements - a budgetary and a market one, which helps to protect potential payments from risks of different nature.

Components of the future pension of Russians

Cumulative

Insurance

How is formed

In monetary terms

In points, the value of which may vary in accordance with the number of working citizens and retirees

Where does it come from

As a result of investment of pension funds by professional managers

From contributions active at the time of payment of employees

What is

Funds recorded on the individual account of a pensioner in rubles

Obligation of the state to distribute funds of future employees

How is it indexed

Depends on portfolio return

Taking into account the current demographic and economic situation. In 2016, by decision of the government, the insurance pension will be indexed by 4%, while in 2015 inflation, according to preliminary estimates, will be 12%

Inheritance law

Can be inherited before pension is granted

Not inherited under any circumstances

Options for placing the funded part of the pension

How do I place my funds?

Features of calculating pension savings,

subject to transfer on applications for early transition

according to applications filed by insured persons in 2016

Both the Russian Pension Fund and a non-state pension fund, which is part of the system of guaranteeing the rights of insured persons in the compulsory pension insurance system, can invest pension savings.

The PFR invests pension savings through the state management company Vnesheconombank and private management companies, one of which a citizen can choose independently.

The change of the insurer occurs only when moving from the Pension Fund of Russia to a non-state pension fund, from one non-state pension fund to another, as well as from a non-state pension fund to the Pension fund of Russia. When pension savings are transferred from one management company to another, the insurer does not change - it remains the Russian Pension Fund.

You can use the right to change the insurer annually. However, investment income is retained only if funds are transferred no more than once every five years.

It is also possible to change the insurer by means of an early transition, however, in the event of a negative investment result, this may result in a decrease in pension savings (the nominal value of insurance premiums) by the amount of investment loss. The exception is insured persons who submitted an application for early transition in the year of five-year fixation of pension savings by the current insurer.

Losses of pension savings of a citizen when applying for an early transition in 2016

From what year

You shape

pension savings

from the current insurer?

Positive result

investing

Negative result

investing

2011 and earlier

Loss of investment income

for 2016

Loss of pension savings in the amount of investment loss in 2016

Since 2012

No loss of retirement savings

Between 2013 and 2015

Loss of investment income

for 2015-2016

Loss of pension savings in the amount of investment loss for

2015-2016 years

Since 2016

Loss of investment income

for 2016

Loss of retirement savings

in the amount of investment loss for 2016

Required documents for applying

Insurance certificate of compulsory pension insurance (SNILS) Identity document (passport of a citizen of the Russian Federation) Application for choosing a management company

WHAT IS THE DIFFERENCE BETWEEN THE INSURANCE AND ACCUMULATED PART?

Both the insurance and funded parts of the pension are formed at the expense of insurance premiums, which are charged by the employer for his employees.

At the same time, contributions to the insurance part are recorded on an individual personal account with the Pension Fund in the form of pension rights guaranteed by the state, and are regularly indexed by the state. But the money itself goes to pay pensions to current pensioners.

Contributions to the funded part of the pension live a different, more complex financial life. These are real funds that can be transferred to the management of the company, this company will invest in investment projects and thereby increase the amount over time. Instead of a management company, you can choose a non-state pension fund that works with several management companies, monitors the state of a citizen's account, and reduces the risk of losses.

WHERE DO THE FUNCTIONAL PENSION FUNDS GO WHEN YOU CHOOSE THE TARIFF 0%

All pension savings of citizens formed at this time will continue to be invested and paid in full, taking into account investment income, when citizens will receive the right to retire and apply for its appointment. The changes will affect future deductions. It is only about the redistribution of contributions in favor of the insurance part.

WHAT RATE TO CHOOSE: ZERO OR SIX PERCENTAGE?

If we talk about the benefits of choosing 0 or 6 percent, then it is necessary to clarify:

The insurance part of the pension is more conservative, more guaranteed by the state, since the funds of the insurance part of the pension are indexed annually depending on the inflation rate and taking into account the income growth index of the Pension Fund per pensioner.

The funded part is more flexible, but less protected by the state. The funded part of the pension is charged with investment income, which is received as a result of placing your funds in non-state pension funds or in management companies. The 6% tariff is more interesting for insured persons who seek to participate in the formation of their pension savings.

At the same time, there is another plus in the funded part: these funds can be inherited. In a solidarity system, where insurance premiums are located, they are not inheritable.

What will be the size of the rate of insurance premiums for the formation of the funded part of the future pension, everyone must decide on their own. If you don’t want to think about the fate of your pension savings, don’t do anything. Then from the new year all 16% will go to the insurance part, and the state will manage this money. If you want to dispose of part of your pension money yourself, you are sure that you will be able to do it better - write an application to the Pension Fund of Russia or a non-state pension fund, to which you are ready to entrust your savings.

If you have never submitted an application for choosing a management company or for transferring to a non-state pension fund, then in order to maintain the 6 percent tariff, you should submit an application for choosing a management company or an NPF. At the same time, as before, when transferring pension savings to a non-state pension fund, you need to conclude an appropriate agreement on compulsory pension insurance with the selected NPF.

For those who, in previous years, at least once submitted an application for choosing a management company or for transferring to an NPF, and it was satisfied, from 2014, 6% of the tariff will continue to be transferred to the funded part of the pension.

OFTEN HEAR IN NEWS THAT NON-STATE PENSION FUNDS ARE CLOSED, AND NOBODY RETURNS THE ACCUMULATIVE PENSIONS TO PEOPLE ... OR WILL ANYTHING BE REFUNDABLE?

In the event of bankruptcy of non-state pension funds, they are obliged to transfer all available pension savings and customer registries back to FIU within a month. If there are no funds, but NPF was not included in the guarantee system - the Bank of Russia reimburses money for them, but only at the face value of insurance premiums (without investment income).

IF AGENTS OF NON-STATE PENSION FUNDS COME HOME AND ASK TO SIGN DOCUMENTS ON PENSION TRANSFER, SHOULD I TRUST THEM?

Before signing any papers, it would be good to find out who actually came to you and what kind of documents you are asked to sign. If a person came to your house without warning and introduced himself as an employee of the Pension Fund, ask him to show his official ID and you will find out that there is a representative in front of you non-state pension fund.

If you nevertheless signed the document, and only then read it, then accordingly you will look for your pension savings in that non-state pension fund, with which you have signed an agreement without looking.

I want to remind you once again that the employees of the State Pension Fund do not go home, do not conduct any reconciliation and campaigning, do not sign any documents.

FUNCTIONAL PENSION IS FROZEN AGAIN, WHAT DOES THIS MEAN?

It is generally wrong to talk about freezing pensions. The point is that during 2016 the entire amount of insurance premiums goes to the formation of an insurance pension, and the funded pension is not funded. This procedure for the formation of a future pension has been extended for the next 2017 as well. At the same time, all pension savings that have already been formed at the end of 2013 do not disappear anywhere and do not disappear. They are invested and will be paid to citizens when they reach retirement age.

HOW TO FIND OUT WHAT PENSION FUND IS THE ACCUMULATION? .

You can find out where your pension savings are located through the personal account of the insured person on the PFR website. In addition, such information can be obtained by contacting personally the client service of the Pension Fund management at the place of residence.

AS SUCCESSOR, I HEREED MY FATHER'S PENSION. WHAT ESTABLISHMENT CAN I GET THIS PAYMENT FROM?

As Natalya Karnozhitskaya, head of the department for organizing and accounting for the investment process of the PFR Branch in the Belgorod Region, explained, since 2008, the legal successors of the deceased insured person have the right to receive his pension savings.

According to the "Rules for the payment of pension savings by the FIU to the legal successors of deceased insured persons", there are 2 ways to obtain them:

Through the post office;

By transferring funds to a bank account.

When the legal successor chooses the method of receiving funds through the Russian Post from the amounts to be paid, deductions will be made against the postage fee for the implementation of the postal order (at the established rates). The amount of this deduction is 2% of the payout amount.

If the payment method is chosen "by transferring funds to a bank account", then the assignee must submit to the territorial body of the Pension Fund of Russia, along with all documents, a copy of the savings book or information on the existence of an account with bank details. When paid through a credit institution, pension savings are paid to the assignee in full (without deducting delivery costs).

I would like to note that before the expiration of 6 months from the date of death of the insured person, the successors have the right to change the method of receiving pension savings. To do this, you need to submit an application to the territorial body of the FIU.

Since the beginning of the year, Russians have submitted twice as many applications for the transfer of pension savings than from January to October last year. Moreover, transfers from the Pension Fund of Russia to NPFs have become especially active. Why, despite the long freeze on pension savings, do people still believe in them?

According to the Pension Fund of the Russian Federation, the total number of applications for the transfer of pension savings increased by 54%: from 3.7 million in January-October last year to 5.7 million in the same period this year. The press service of the Pension Fund stressed that these are not interim results of the transfer campaign, the results of which are summed up at the end of the year, but only the number of applications submitted. Nevertheless, 1.7 million people wanted to change their NPF last year (as of November 1) and 2.4 million this year. There were also those who wanted to transfer their savings from the NPF back to the Pension Fund: there were 152 thousand of them last year and 92 thousand this year. Basically, people want to move from the Pension Fund to NPF: there were 1.8 million such applications last year and 3.2 million this year.

It turns out that, in spite of the actual freezing of the funded system over the past few years and its unclear prospects, millions of people continue to transfer their savings to NPFs. The draft law on a moratorium on the formation of the funded part of the pension was approved at the end of 2013 and was subsequently extended. In early November, the State Duma Committee on Labor, Social Policy and Veterans Affairs supported a bill to extend the freeze until 2019. If it is adopted in three readings, it will enter into force on January 1, 2017. This means that 6% of the funded contribution will continue to be transferred to the insurance part of the pension, and not transferred to the management of the NPF for investment.

Over the past six months, the attitude of Russians to the Pension Fund has deteriorated significantly, according to an FOM poll commissioned by the Bank of Russia in September. In January 2016, 31% of respondents trusted him, now - only 21%. This is the only financial institution with such negative dynamics on the part of the population.

“The transfers from the Pension Fund of the Russian Federation are due to a greater extent to the distrust of citizens in the state policy in the pension sphere,” said Konstantin Belikov, Deputy Director General of Capital Management Company. - The rules of the game change regularly, and the latest freeze of pension savings is proof of this. The opportunity to have at least some part of pension savings in real money, and not in mythical points, could become an incentive to transfer savings to non-state institutions of management. "

Related materials: Voluntarily funded pension in Russia

According to Evgeny Yakushev, executive director of SAFMAR NPF, the activity of citizens in transferring pension savings is due to the fact that they can transfer to funds what they managed to accumulate even before the frost, from 2002 to 2013. “It is obvious that they believed in the NPF system and were voting with their feet,” he notes.

It is not surprising that it is mainly the participants themselves who speak about belief in the pension market. Another part of the financial community is more skeptical. “The activity in the sense of applications for the transfer of savings does not say too much about the trust or mistrust of the NPF industry on the part of citizens. This is the result of the activation of funds, which see the only source of growth in assets under management in the flow of external clients, in particular the "silent", - believes the executive director of the Management Company "FinEx Plus" Vladimir Kreindel. A number of NPFs have built interaction with wide banking networks, invested in the automation of the application processing process, and increased the motivation for agent banks.

“For NPF agents, this is probably the last opportunity to get additional funds for management. For the same reason, the competition among non-state pension funds has increased among themselves and the enticement of clients from one fund to another, ”says Konstantin Belikov.

Many large private pension funds are included in banking groups, so this channel of attraction is the most accessible for them. For example, an agreement with NPF SAFMAR can be concluded through the branches of the banks of the Binbank and Raiffeisenbank group. “We plan to expand our work through the bank channel next year, increasing the number of partners and the product line,” Yevgeny Yakushev shares his plans. The main volume of attraction of NPF "VTB Pension Fund" goes through the banks of the VTB Group, including VTB 24 and Post Bank. As the general director of VTB Pension Fund Larisa Gorchakovskaya said, often citizens apply to the fund on their own, leaving their statements about their desire to transfer the funded pension in the call center or on the fund's website. “Many clients come to us on the recommendation of their relatives and friends, so word of mouth is also an effective attraction tool,” she adds.

According to Vladimir Kreindel, non-state pension funds are ready to pay for attracting clients (both from PFR / VEB and from other NPFs). At the same time, the process of "processing" clients is often primitive, the conversation about risks and profitability is reduced to comparing the profitability of the current period, which does not say anything about how successful the process of increasing pension savings in a particular fund will be.

Related materials: Complain about your health!

It is really difficult to determine the profitability of investment of NPF funds. Representatives of the industry have repeatedly noted that pension funds are “long money” and it is necessary to evaluate the effectiveness of their investment on the horizon of at least five years. In a recently published RANEPA study on the impact of non-state pension funds on economic growth, it is noted that the main drawback of the indicator of the net profitability of investing pension savings is the extremely low level of promptness of information disclosure. On the official website of the Bank of Russia, this indicator for the reporting year appears only at the beginning of the second year following the reporting year. For example, the indicator of the net profitability of investing pension savings of NPFs for 2015 on the website of the Central Bank can be seen only in March - April 2017. The NPFs themselves practically do not publish the indicator of net investment return on their websites, the RANEPA notes.

The indicator of the average nominal gross profitability of NPFs for the last year amounted to 11.2% per annum (with inflation of 12.9%). The state management company, VEB, earned 13.1% per annum for future retirees in 2015. However, the dynamics are not always so impressive: in 2014, VEB's result was only 2.68% per annum for the expanded portfolio (inflation was 11.4%). For NPFs, the average nominal gross profitability in 2014 was 4.2%.

The question of where it is better to store pension savings - in the Pension Fund of Russia or NPF - has always been and remains controversial. On the one hand, the belonging of many non-state pension funds to banking groups can play against them due to the more frequent revocation of licenses from credit institutions over the past three years. The FIU looks more reliable and attractive here. On the other hand, due to the constant freezing of the funded part, the trust in the FIU, as a state institution, is weakening.

“In fact, when choosing an NPF or a PFR, citizens choose, as they say, out of two evils,” says Nikita Kulikov, executive director of HEADS Consulting. "But even with the risk of a possible revocation of the license, the NPF still looks more profitable than the Pension Fund with all its reliability." According to the expert, in the current realities, having weighed all the pros and cons, against the background of the extremely conservative policy of the PFR, the preconditions for changing which in the next two or three years are not expected, almost any non-state pension fund with their methods of capital growth looks many times more interesting and profitable ...

Materials (edit)