Reliability rating of non-state pension funds. The best non-state pension funds: new ratings

Now more and more people are thinking about investing in NPFs. Rating 5 best funds in 2017 will help to understand which institution is more profitable and safer to invest money.

NPF is a special organizational and legal form for non-profit organizations responsible for social security (in addition to). There are several laws regulating the activities of such funds.

1. This is Federal Law No. 167-FZ issued in December 2001.
2. In addition, an important basis for carrying out activities provides Civil Code RF,.
3. Specifically, the activities of non-state pension funds are described by Law No. 75 FZ.
4. Finally, savings accounts (for) are maintained in accordance with the law No. 27-FZ "On individual (personified) accounting in the mandatory pension insurance system."

How do NPFs work?

Such an organization is practically no different from government structures. That is, it can do:

• Payment of pensions.
• Considering money.
• Investing in equity and stocks (like and), bonds (for example) with a minimum.
• The accumulation of capital to make payments after this point.

Commercial funds for pension deposits may belong to one of the following groups.

1. Open or generic. Not affiliated with any financial and industrial groups. The savings of depositors make up the majority of assets.
2. Territorial. With the support of local authorities, they function only on the territory of a particular region.
3. Corporate. Can work with founder programs. The percentage of savings is growing.
4. Captive. Also work with founder programs.

The best NPF in 2015-2016

Company founded in 1994. Ranked # 1 for a number of reasons.

• It occupies about 14 percent of the market, serves up to three million three hundred thousand people.
• Has savings in the amount of 149,289,065,000 rubles.
• No claims for participation in financial fraud for a long period of time.
• Received many awards

The website has a calculator that allows you to estimate future savings.

One of the most stable and reliable NPFs in Russia. This is confirmed by the high A ++ rating. It occupies one of the leading positions in terms of average annual profitability, which is 11.5-12 percent.

Another advantage of the fund is the ability for clients to get access to the display not only with the placement structure pension savings, but also investment instruments to increase the level of profitability.

Pension reserves now exceed the size of pension savings, more than three times. And the profitability of savings themselves consistently exceeds the inflation rate.

The leader of the list with an average annual return of up to 14 percent.

Customers receive the following benefits:

1. Long and successful experience in the market.
2. An individual investment program for each client.
3. Individual approach with European service standards.

The Central Bank of Russia fully controls the activities of this NPF, which allows it to receive a high A ++ rating.

NPF with a high level of reliability in A ++. More than a million customers were satisfied with the services of this fund. What characterizes his activities in the best way.

On the placement of pension savings, the organization conducts strict accountability in front of their clients. There are a number of programs not only for individual pension savings, but also for those who are interested in improving business efficiency.

It retains the third position in terms of reliability among licensed organizations. Serves over two million clients. The total amount of savings reaches 72,281,723 rubles. Works actively throughout the country.

About drawing up a rating scale

You don't need to create a separate classification for parameters such as customer count or profitability. But there is also an abstract concept of "reliability".

• A ++. it high level reliability. Means that successful cooperation is guaranteed in any market fluctuations.
• A +. Very high level designation.
• A is just an indicator for a high level.
• B ++ - this level is considered to be satisfactory.
• B + - the indicator is not very high. Problems are likely to arise if a significant amount of money needs to be paid.
• B - low reliability.
• C ++ - for an extremely low level of reliability. There is a likelihood of revocation of the license, failure of the fund to fulfill its obligations.
• C + - this level is unsatisfactory. Such foundations quickly lose their licenses.
• C- there are situations when the NPF has not fulfilled its obligations.
• D- for bankrupt companies.
• E - the license has already been revoked, the organization itself is declared bankrupt or liquidated.

How to become a client of a non-state pension fund?

For this, an agreement is concluded with the NPF. But before concluding it, the visitor will have to choose a scheme not only for payments, but also for depositing funds into the account. It is imperative to decide on:

1. Terms of termination of the contract, amendments.
2. By paying the state pension itself.
3. The type of payments when the client reaches retirement age.
4. The pension scheme and its components.
5. The amount of money, the time it was deposited into the account.

A personal account is opened for the depositor when the agreement becomes valid. A joint and several account is opened if an employer has concluded an agreement. To conclude a contract, you need a very small package of documents:

• Pensioner's ID.
• Insurance certificate.
• Passport, its first and second pages (if the document is expired, you will have to pay).

The Fund independently manages the money that is deposited into the account. Most contracts provide for a minimum level of income guaranteed to every citizen.

The Fund will definitely compensate for losses at the expense of own fundseven if their investment doesn't pay off. This means that clients get their money back, in any case.

The depositor can choose two options for payments upon reaching the retirement age:

1. The whole amount at once.
2. In installments that are paid every month.

At the same time, such payments imply the presence of a 13 percent tax. It is taxed on income earned by the fund for the entire time the contract was in force.

Information about savings and termination of the contract

Any client has the right to terminate the contract earlier than the deadline specified in it if the NPF for some reason does not suit. But each NPF has its own requirements in such situations.

You can change the management company in the form of an NPF once a year, this right is reserved for all citizens of the Russian Federation. But such a decision can be made no more than once a year.

If less time has passed since the contract, you will have to wait. Or you need to write a statement in which the client indicates why he decided to apply to another fund.

To find out the amount of his savings, the client must contact the representatives of the NPF itself, indicating their individual data.

Information can also be obtained via the Internet, if there is no time or desire to personally visit the office of the NPF.

It is enough to register on the official website, having received at your disposal personal Area.

A letter with individual data and calculations is sent to the e-mail. During a personal visit to a non-state pension fund, information is issued to those who provide a passport and an agreement.

Choosing a non-state pension fund

Before transferring pension money from the PFR to a non-state fund, you need to study at least one rating of the Russian NPF, which is relevant at the end of 2018 - early 2019. In our review - those who are leading in the top according to the main criteria - profitability and reliability.

The strongest remain

The Bank of Russia annually updates the list of non-profit pension funds that can earn the public's trust. Companies deprived of their licenses drop out of it, and the weakest players in the market find themselves in the last positions.

The statistics data looks like this:

since 1997, the number of NPFs has decreased from 252 to 69;

38 of the operating companies participate in the deposit guarantee system, 31 do not;

in total, more than 4 trillion rubles of pension savings have been placed in non-governmental structures.

The market for non-state pensions is developing dynamically, while it is natural that the strongest remain on it, and the weak either leave or unite.

The three funds that, one way or another, appear in all authoritative tops include:

Sberbank;

• VTB Pension Fund.

According to Deputy Chairman of the Central Bank Sergei Shvetsov, the non-state pension market is carefully controlled by:

"Hard dropout" through the pension savings guarantee system;

tireless monitoring of investment strategies that a particular fund chooses;

conducting stress tests to meet obligations to depositors;

control over the quality of the origin of the fund's capital.

This allows the Central Bank to ensure that not those who want to “grab the money and run away” are left in the market, but who are determined to “do normal business,” Shvetsov explained.

The most reliable

The criterion of reliability evaluates how stable a particular company is. The first places in the 2018 NPF rating are those who are not afraid of financial cataclysms of both state and global scale. Investments in them are insured and financially secured. The last line is occupied by funds with an unstable position and high risks of bankruptcy.

According to the Central Bank, the total capital of the five leaders in the NPF reliability rating 2019 is 2/3 of the total capital of all market players. For several years in a row, the “daughter” of the country's largest bank has been in the lead, while the amount of savings in NPF Sberbank has grown by more than 44% over the year.

A surprise was a powerful increase in Samfar's savings, which rose to the 6th line of the top and increased the number of customers 10 times over the year. The reason for the breakthrough was the consolidation of the Bin Group PF.

Accumulation of Soglasiy, Surgutneftegaz and Doveriya, which were not included in the top 10, doubled their savings - and this is a good indicator of confidence on the part of investors.

On a note! In addition to reliability, you should check whether the fund is included in the DIA system for guaranteeing the rights of insured persons. In the event of force majeure, the state returns the savings to citizens instead.

Most profitable

Fund performance is how much the company has increased its pension savings... It is impossible to calculate the size of the percentage of investments in advance, however, stable NPFs often already at the conclusion of the contract announce the expected profits or, at least, demonstrate the indicators of previous years. NPF profitability rating 2019 will help you choose a company that has earned for its clients in this year maximum amounts.

Here is how investments were distributed in 2018:

corporate bonds - 50.2%;

state securities – 10,1%;

shares - 17.3%.

On a note! The average return on investment was 10.8%.

The list of NPFs by profitability rating 2019 demonstrates that the “largest” does not always become synonymous with “financially successful”. Thus, KIT-Finance pleased most of all clients, while the leader of the top reliability Sberbank did not enter the top ten.

Independent ratings

In addition to the opinion of the Central Bank, it is possible to find out other expert assessments, for example, the rating agency "Expert" or the National Rating Agency.

This is what the top most looks like reliable NPF according to RA Expert:

Trust but verify

A recent poll by the National Financial Research Agency found a sharp drop in confidence in nonprofit pension funds. This is not surprising, because every year there are more and more people who complained about the "withdrawal" of their pension to another fund. Deceived depositors, according to the Central Bank, are already more than 2.5 thousand people.

More often than not, people learn about fraud from the "letters of happiness" - reports that companies send. The "old" NPF writes that it "stops its activity", the "new" one invites to sign a new agreement. As a result of the "uncoordinated transition", the depositor loses the interest due, because applicable laws You can painlessly change your company no more than once every 5 years.

The issue of transferring the funded part of future pension contributions to the best NPFs has been of concern to Russian citizens since 2014, when changes took place in Russia. Since 2014, pensions in Russia have been divided into two categories: funded and insurance premiums... And the working part of the country, upon retirement, has an opportunity to change its "fate": to abandon savings in favor of insurance or invest them, becoming a client of a non-state company.

in Russia?

Citizens receiving "white" wages (official employment with annual contributions to tax authorities and the Pension Fund of the Russian Federation), have the right to receive benefits from the state upon reaching retirement age - material indefinite support. In 2014, the pension system in the country underwent a reorganization, and 22% of insurance contributions paid by the landlord to the Pension Fund of the Russian Federation for each employee can be formed in the following ways:

• 16% go to the insurance part for social needs, 6% are the employee's accumulative contributions, which he can receive (taking into account indexation, if he made the transition to an NPF) at a time upon retirement or by breaking them into monthly payments;
• only the insurance part: 22% out of 22% possible (this implies refusal to form a funded share (0%) by voluntary consent of a citizen or uncertainty when choosing a private pension fund - "silence").

If, in the case of the first option, the future pensioner only has to decide on the NPF (which one to choose), then if he refuses to save, he automatically transfers the contributions withheld by the employer to the state (becomes a "silent" - a client who did not enter into an agreement with a non-state fund and did not use his opportunity to increase the size of the pension).

Who has the right to transfer the funded part of the pension

Not all citizens of the Russian Federation can make the transition to an NPF, retaining 6% for investment according to the profitability of a non-state company:

• those born before 1967 do not have the opportunity to change the size of the insurance part, they have access to private programs concluded within the framework of co-financing of pensions, which can be connected to at a branch of the Russian Pension Fund of the Russian Federation or from private companies;
• the rest of the age categories have the right to choose: to remain "silent" or to take the future into their own hands, having studied the NPF profitability rating and choosing a fund that inspires confidence.

All citizens of the permissible age category (who in 2016 were no more than 49 years old) could use the right of transition until December 31, 2015. For those persons who, since January 1, 2014, transferred contributions to the Pension Fund for the MPI for the first time, the state extended the selection period until the end of 2018. And if their age at the time of the transition was less than 23 years old, then the permission for the transition is retained until the retirement age is reached.

How does the Russian Federation differ from non-state firms?

Doubting the NPF (which one to choose to get maximum income and confidence in receiving a pension), clients of insurance companies forget that, unlike non-state funds, the PF RF guarantees annual indexation of contributions taking into account inflation. Whatever the financial situation in the country, the insurance pension will be paid in full with accrued interest.

The NPF does not guarantee 100% that the income calculated upon signing the MPT agreement will remain at the same amount during the indexation period. The profitability ratios depend on the number of clients, the size of the financial portfolio, the total amount of pension payments to the fund's participants and external economic factors: the level of inflation, competition in the market, pension reforms (since 2015, the Central Bank of the NPF takes special control). In case of stable development, a private company provides a chance to increase savings several times or to receive a "bare" amount of withheld contributions (in case of negative profitability).

NPF-2016 rating by profitability principle

The higher the yield, the more attractive it looks in the eyes of the client. The best NPFs (top-5), guaranteeing the highest percentage of investment for the analyzed period (taking into account average annual indicators):

1. OPF named after Livanov JSC (12.9%).
2. "European PF" (12.4%).
3. Ural Financial House (11.4%).
4. "Education and Science" (11.1%).
5. "Education" (11%).

1. CJSC Promagrofond (17.3%).
2. "Consent" (12.7%)
3. "Magnet" (12.2%).
4. "European PF" (10.9%).
5. Sberfond (10.2%).

Which NPF is the most reliable?

When choosing a private pension company, an important role is played by the reliability of NPFs, which is determined by the firm's voluntary participation in the rankings of independent agencies.

The most influential analytic agencies in the field of pension provision are "Expert RA" and "National RA".

The list of NPFs that have been assigned an exceptionally high (A ++) level of reliability from Expert RA:

• "Diamond Autumn".
• "Atomgarant".
• "Welfare".
• "EMENSY Welfare".
• "Large".
• "Vladimir".
• VTB PF.
• Gazfond.
• "European PF".
• Kit Finance.
• "National".
• "Neftegarant".
• "Gazfond pension savings".
• "Promagrofond".
• "SAFMAR".
• "RGS".
• Sberbank.
• JSC "Surgutneftegas".

It includes 9 companies, 6 of which are recognized by two agencies as the most reliable:

• "Welfare".
• "European PF".
• Kit Finance.
• "Neftegarant".
• "RGS".
• Sberbank.

Rating of the most "client-centric" non-state funds at the end of 2015

The opinions of future retirees who have signed an MPI agreement with a non-state company put pressure on potential clients of the fund. Negative reviews on the network, which are left by NPF clients, make investors think about leaving an unattractive fund that has received complaints from participants in the insurance contract.

Companies that are focused on complying with the terms of the GPO and NGOs earn the trust of depositors and enjoy the status of "customer-centric".

1. "European PF" (3.8 out of 5).
2. "Future" (3.2 out of 5).
3. Welfare (2.9 out of 5).
4. Kit Finance (2.6 out of 5).
5. "Promagrofond".

Among the subsidiary banking companies, the leader in the quality of customer service in 2015 became which accounts for more than 14% of the market and 243.3 billion rubles in pension savings (1st place).

Additional information that deserves attention when choosing a non-state pension fund

First, the age of the private firm. Although newcomers in 88% of cases offer more attractive conditions (profitability of 10% and the possibility of an agent's home visit), the experience in insurance business acting. Among the funds leading in the lists of reliability and profitability, there are no "newbies" that have been operating for less than 3 years. This is not "hazing", but healthy competition and a policy of "retention" (keeping the customer flow at the level of the previous period with a high satisfaction index), and not attracting new faces at any cost (deception, understatement).

Secondly, the convenience of online services. The "personal account" of the participant in the OPS agreement must have a practical interface (large icons, a Russian-language menu, understandable to a novice user) and provide maximum access to information (features of the contract, history of transactions with NPP). Comfortable remote service means that the client does not need to visit the branch.

Third, the number of customers. When 500 thousand citizens and more wanted to use the services of a private person, this speaks not only of the successful work of insurance agents, but also of confidence in the fund.

The choice has been made: how to transfer pension savings to NPFs?

If the question of the activities of the NPF (which one to choose for transferring the LF pensions) has already been resolved, then the workers have another problem: how to transfer the pension to a non-state fund?

In order to conclude an MPI agreement with an NPF, you must contact the office of the non-governmental organization at the place of registration. Of the documents, you only need a passport and SNILS with you. After completing the documentation, the client is given a copy of the agreement confirming the desire to transfer pension savings from the Pension Fund of the Russian Federation to the NPF.

But for the final transfer of NPPs to another fund, confirmation is required from the Pension Fund of the Russian Federation. This can be done in several ways:

1. During a personal visit to the Pension Fund of Russia, by filling out an application form with consent to transfer.
2. By confirming by phone specified in the GPT agreement (or upon " feedback"from the specialist of the NPF contact center).
3. By sending consent by email or SMS.

In 2016, 25% of non-state funds (for example, NPF "Sberbank") offer to confirm their consent to transfer NPP "without leaving the office": when registering an OPS, the client receives an SMS message with a code within 2-5 minutes, which must be reported to the manager. The employee enters the code into the program - and the application is automatically sent to the FIU. A second confirmation and personal visit to the Russian Pension Fund is not required.

The nuances of transferring to NPF

Pension savings can be transferred to any fund that offers services for concluding an MPI and NGO agreement. The transition process takes 1 year: after the signing of the agreement, the savings are transferred to the NPF after a year after the paperwork has been completed. All are translated insurance deductionswithheld by the employer and interest accrued by the previous company (provided that 5 years have passed since the date of the previous contract). If the client terminates the contract early (in less than 5 years), he loses dividends, receiving only insurance contributions from the employer (their amount cannot be reduced, since they are paid without fail by all officially working citizens by withholding amounts from wages).

You can transfer savings between non-state funds and the PF RF no more than once a year.

NPF license - what is it?

Since 2015, the Central Bank has begun to purge non-state funds, the number of which has increased by dozens of companies every year. Organizations that did not fulfill their obligations to depositors (whose pension savings did not allow making payments to all customers) and violating the reporting deadlines were deprived of the right (unlimited NPF license) to engage in insurance activities in the financial market of the Russian Federation.

At the end of the year, 89 funds were licensed, the list of which is presented on the official website of the Central Bank of Russia.

The license was taken away from the NPF: what should the clients do?

If the fund's license is canceled, the client is given the opportunity to transfer his savings to another private company. In case of refusal to choose another NPF, pension savings will be transferred to the Pension Fund of Russia by default, with the preservation of 6% of NPP.

Within the framework of Law No. 422-FZ, which regulates the rights of insured persons when concluding an MPI in the Russian Federation, at the end of 2015, 32 NPF entered the NPP guarantee system. This means that the pension savings of citizens indexed by the PFR or NPF (protected by the "Deposit Insurance Agency") are guaranteed by the state.

Moratorium on NPP 2014-2016: when to wait for indexation?

In 2016, the Government confirmed the extension of the moratorium on investment in NPPs. The reason is the crisis, forcing the state to save on the savings of citizens.

The ban on the formation of the required 6% for investment, according to financial analysts, will be extended for 2017 as well - until the market and the Russian economy stabilize.

Non-state pension funds is a non-profit form of social security. The main activity of these organizations is supplementary pension provision and compulsory pension insurance carried out on a voluntary basis.

Regulation of the activities of these organizations produced by two laws:

• dated 15.12.2001 No. 167-FZ "On the mandatory pension insurance in the Russian Federation";
• dated 07.05.1998 No. 75-FZ " On non-state pension funds ".

Russian legislation has limited the list of tools for nPF investment, which allows to ensure the stability of savings growth and reduce the risks of bankruptcy.

The activities of these funds are carried out on a voluntary basis and include augmenting and saving pension contributions, as well as the appointment and payment of non-state savings to the participants of the fund.

These organizations enable citizens to form their savings at the expense of the chosen savings program... Depending on the chosen fund interest rate investment savings, applied to the funded portion, varies.

How to choose an NPF to transfer pension savings?

Choose a non-state pension fund from those that are included in the insured. This choice will determine the size of the resulting investment income from savings. There are a number of criteria that help in solving this problem, which are worth paying attention to:

• Year of creation - the older the fund, the more experience. Particular attention should be paid to firms that started their activities before 1998, because they have experienced two crises;
• Foundation founders - the larger the parent organization, the more reliable the foundation. Information about the founders must be indicated on the website of the NPF chosen by the citizen. You should also choose from organizations that are created by industrial, heat and power, mining enterprises, as well as large banksthese funds are generally the most stable;
• Reliability degree - This indicator is calculated from several performance criteria. These data are published annually by rating agencies such as Expert RA, National Rating Agency;
• Profitability - must exceed the inflation rate by a few percent. This information is posted on the website of the selected non-state pension fund, as well as rating agencies. This indicator must be viewed over several years to determine stability.
• Transparency and openness - the foundation has a personal website, the ability to create a personal account, the completeness of the constituent and financial information.
• Fund reputation - customer reviews on forums and social networks.

How is the reliability of non-state NPs assessed?

Fund reliability is a guaranteed fulfillment of obligations to customers. It is evaluated according to the following indicators:

• The total amount of pension reserves - shows the scale of activity and shows its solvency.
• The authorized capital of the fund is a guarantee of reliability, protection of the rights of participants and insured persons.
• Experience in the market for providing pension services - the number of participants and the dynamics of their increase or decrease.
• The level of professionalism of the fund's personnel is its qualifications and work experience.
• The composition of the founders indicates the proximity to the leading, financially stable enterprises.
• Market reputation - license suspension, balance sheet loss, etc.
• Diversification of the investment portfolio - the distribution of risks between investment programs.

Rating agency "Expert RA"

"Expert RA" is a rating agency, which is the leading analytical and communication center in Eastern Europe and the CIS, is a member of the international RAEX group, which conducts an expert assessment and shows the degree of reliability of a particular organization. It currently ranks first in assigning individual ratings - over 800, which is 46% of the total number of assigned ratings.

The center's specialists have developed a system for evaluating a number of indicators by which one can see the degree of the firm's reliability.

The main areas of its activities are:

• preparation of credit ratings of companies both private and municipalities, as well as an assessment of the degree of their attractiveness;
• study banking, insurance, leasing markets, factoring, microfinance organizations and non-state pension funds;
• formation of rating lists companies in various industries.

NPF reliability scale (table)

To determine the degree of reliability, including of non-state pension funds, Expert RA specialists have developed a class system:

Rating of NPFs of Russia in terms of reliability in 2018

The past year was quite favorable for NPFs, and at the end of 2016 and beginning of 2017, there was a small but stable growth. At the beginning of the year, there are 43 funds, the leading ten have practically not changed their composition:

Indicator of profitability of non-state pension funds

Along with reliability, it is customary to consider and profitability of funds... Perhaps the percentage of NPF profitability is not a very subjective indicator, which is influenced by many factors: financial market, economic stability (including political), inflation, etc. However, it should first of all be guided by when choosing a NPF.

Profitability data is also published on the website Central bank RF:

This list is updated annually and is formed from the records of all organizations existing at the end of the year.

According to the FIU today in our country80.7 million people form pension savings. Of themin non-state pension funds (NPF) - 31 million citizens, in private management companies (MC) - 0.5 million citizens, in the state management company (GUK) Vnesheconombank - 49.3 million citizens.

Those who decide to form a funded pension can do it through:

1. The Pension Fund of the Russian Federation, by choosing either a management company (MC), selected by competition (with which the Pension Fund has entered into an agreement trust management funds of pension savings), or one of investment portfolios the state management company (GUK) - Vnesheconombank.
2. Non-state pension fund (NPF), which carries out compulsory pension insurance activities.

The consequences of the formation of a funded pension in management companies (MC) with an analysis of their profitability, we in detail . Plet us analyze the second option of forming a funded pension, when a citizen entrusts its formation to one of the NPFs.For this we use official data,posted on the website of the Central Bank of the Russian Federation in section "The main indicators of the activity of non-state pension funds for the compulsory pensioninsurance. " only for those NPFs that as of May 2016 are included in"Register of non-state pension funds - participants in the system of guaranteeing the rights of insured persons".

We chose as the criterion for compiling the rating profitability which NPF showed(according to the Central Bank) in the period from 2013 to 2015Unfortunately, there is no reliable official information on the profitability of APFs for earlier periods. The numbers that leadabout its profitabilitynPFs themselves cannot be taken seriously, since they are of an advertising and campaigning nature and oftenhave nothing to do with reality.

Figures of profitability of 37 NPF in 2013, 2014 and 2015 (return on investment of pension savings)shown on the left (first three columns). Based on these data, the right side of the table was calculated with the generalized average annual values \u200b\u200bof the profitability indicators. This made it possible to compare NPFs with each other, as well as to compare their profitability with the level of inflation and indexation of insurance pension capitals in the Pension Fund of the Russian Federation. Pfull calculations are given in the appendix. The ranking results are shown in the diagram.

As you can see, only 9 NPFs out of 37 (24% of the total number) managed to overcome inflation, the average annual level of which for the last three years was 8.6%. And only one of them, the European Pension Fund, managed to "bypass" the level of indexation of insurance pension capitals in the PFRF.

Does this mean that the best NPFs managed to save the accumulative pension capital of citizens from depreciation and that it became no less profitable to place their pension capital there than to form insurance pension? Not at all. There is one important "nuance" that is not mentioned. NPF, demonstrating its effectiveness. Namely, from the received investment income, future pensioners get only 70-80%. The fact is that from 20 to 30% of income goes to pay for the services of management companies with which the NPF has concluded agreements on investing pension savings, to pay for the services of a special depository and to "maintain" the NPF itself. As a result, according to experts and analysts, only 70-80% of the income received will remain in the pension accounts of citizens.yes. Taking this circumstance into account, the picture is radically changing and shows that it is less profitable to form a funded pension in an NPF than an insurance pension in an NPF. The diagram below illustrates the real average annual "profitability" on the pension accounts of citizens forming a funded pension in NPFs. As you can see, from the point of view of ordinary "depositors", none of the NPFs "won" not only the PFRF, but also inflation by its level of profitability from investing pension savings.

The general picture of the comparable return on investment of pension savings by non-state pension funds with the rate of inflation and indexation of insurance pension capitals in the Pension Fund of the Russian Federation is illustrated in the diagrams below. The upper one shows the publicly declared profitability of NPF, the lower one - the real profitability for the participants of the accumulative pension system - citizens who have placed their pension savings.

rating table

* Data of the Central Bank of the Russian Federation

** Calculated based on data from the Central Bank of the Russian Federation