Arrangement
Detailed information about NPF: what it is, structure and specifics of activities. Pension risks Whether to transfer savings to NPFs

Detailed information about NPF: what it is, structure and specifics of activities. Pension risks Whether to transfer savings to NPFs

However, there are some innovations in the project as well, such as informing clients about investment risks and loss of investment income in case of early transfers and maintaining a register of agents. Now, according to the law, NPFs cannot promise clients a certain rate of return when it comes to pension savings. The ANPF and NAFP did not specify what should be understood as the risks from investing, citing the fact that they had just begun to develop standards. According to an industry representative, Alexey Okhlopkov, president of the NPF Khanty-Mansiysk, the risk disclaimer is, in fact, an explanation for clients that a funded pension is an investment product, the profitability of which depends on the market situation.

Photo: Alexander Artemenkov / TASS

“The disclaimer will most likely be that investments in the securities market can bring both income and losses, and that a high positive income in the past does not mean that the same situation will be in the future,” Okhlopkov believes. Also, this disclaimer, in his opinion, should contain information about the risks of losing income in the event of an early transition to another fund - earlier than once every five years.

Now, according to the law, NPFs that have shown a negative result when investing citizens' savings as of the cut-off date (once every five years) must compensate it from own funds, notes Okhlopkov.

Market reaction

According to Yakushev, the requirement to disclose risks is a logical measure. “We are already warning clients that NPF income in the past does not guarantee future profits. This is a phrase that is already being used in fund marketing materials,” he says.

Okhlopkov believes that such an initiative is generally correct, but it is unlikely to provide citizens with additional protection. "For example, Insurance companies prescribe this in the insurance rules, which are distributed along with the policies, and take the signature from the insured that he has read it. But in fact, few insurers read these rules. Therefore, from the point of view of increasing the awareness of choice and decision-making by the insured, this is a plus, but one should not expect a big effect, ”Okhlopkov believes.

“Given that the funds attract mostly “silent people”, for the most part they don’t care if they have a loss of investment income or not, because the concept of individual pension capital that exists at the moment generally involves the complete conversion of pension savings into points,” says General Director of "Pension Partner" Sergei Okolesnov.

Register of agents

Another important innovation that could affect the market is the agent registry. According to the project, it is assumed that this information will be provided by the Pension Fund. The head of the NAPF, Konstantin Ugryumov, is convinced that this initiative is necessary to restore order with the transfer of clients from one fund to another.

At the end of 2016, the PFR almost half of the citizens out of 12 million people who wished to change their insurer. At the same time, the number of complaints to the Central Bank doubled in 2017 compared to 2015, to 5,125.

Most of the violations that NAPF fixes are connected precisely with the activities of agents, says Ugryumov. However, he believes that for the effectiveness of control over agents, it would be a good idea to legally prohibit the activities of those agents who are not included in this register.

According to Okhlopkov, the rule proposed by the regulator to the market should improve the situation with transitions. But he is more skeptical and believes that “the registry does not solve the issue of unconscious transitions of citizens at the root.”

Market response

Disclosure of the necessary information listed in the SRO can be carried out through various generally accepted channels - websites, offices of funds, etc., says Sergey Belyakov, head of the APPF. To check the NPF's compliance with the standard, the SRO will look at how the fund fulfills the requirements in the form of posting the necessary information, and a document with the client's signature can also be used stating that the minimum information has been brought to it, Belyakov believes.

In the future, based on the logic of the regulator, the introduction of a requirement to disclose the results of stress testing, which NPFs will be required to conduct from 2018, cannot be ruled out, says Stanislav Dmitriev, head of the risk management department at NPF Soglasie.

Russians still have many options for choosing a non-state pension fund. But this must be done consciously and responsibly.

Photo: Fotolia/Photobank

November and December are traditionally the most active months, when Russians are in a hurry to choose a pension fund to which they can entrust their savings. This year, about 4.7 million people have already applied for a pension transfer. But how not to make a mistake with the choice of fund? What should you pay attention to?

The Silent Ones Are No Longer Silent

VEB's assets now contain about 1.8 trillion rubles of pension savings, against 2.4 trillion rubles that have accumulated in the accounts of non-state pension funds. Judging by the speed with which citizens are fleeing from the state, the pension fund of the state management company will continue to “lose weight”. This year, more than 2.6 million silent people have decided to withdraw their money from VEB.

Neither the risks of changing the state management company to private funds, nor the loss of profitability stop future pensioners. 99% of transfers from VEB to NPF were early. Last year, due to early transfers, they lost about 27 billion rubles, Nikolai Tsekhomsky, First Deputy Chairman of Vnesheconombank, said in August. In total, citizens took over 240 billion rubles of pension savings from VEB.

But are Russians so wrong when they decide to change their pension manager, regardless of the risks of losing their earned income? Market participants attribute the increase in transfers to private NPFs to the activity of intermediary agents, but there are other reasons as well. In particular, any person more or less knowledgeable about the pension system knows that, unlike PFR pensions, savings in NPFs can be inherited. It is clear that many people prefer to transfer money to their relatives, in which case, rather than donate it to the state.

Another reason: after the Ministry of Finance announced a new concept of the pension system (the system of individual pension capital. Not yet approved), under which citizens must make contributions to future pensions on their own, the question arose of what will happen to the money of the “silent ones”. The idea of transforming them into pension points clearly did not find support among the population. After all, not a single expert will undertake to explain what PFR points are and how the real size of the future pension depends on them. In addition, new deductions within the framework of the system of individual pension capital, as conceived by the authors of the program, should go to the fund, which already contains the savings of a particular citizen. The deductions of those who did not choose the NPF will fall into a randomly selected fund.

It turns out that, in fact, citizens have very little time left to decide on the choice of an NPF, into which to transfer savings and into which deductions from the IPC will be received. According to the plan of the Ministry of Finance and the Central Bank, the new pension system should start operating in 2019. True, whether they will have time to pass the necessary law is a big question.

In any case, you need to decide what to do with your future pension as soon as possible.

Selection criteria: profitability and a major shareholder are more important than geography and personal connections

To help make the right choice, Banki.ru decided to interview those who are professionally involved in managing pension money - NPF and UK. Market participants were asked to prioritize the following fund selection criteria:

- return on investment;

- the size of the fund's assets;

- the presence of a major shareholder;

- financial indicators: profit, etc.;

- subjective assessment of the fund's reliability;

- availability of additional services;

- bonuses from the agent;

- presence / absence of negative information about the fund in the media;

- personal acquaintance with the management of the fund;

- geographical proximity to the place of residence;

- possible loss of investment income.

Market participants also had the opportunity to enter their own criterion, which is not on the list, but for some reason they consider it important. A total of 20 largest pension funds and management companies were surveyed.

And that's what happened. Among the most important criteria to consider when choosing a fund, more than half of the experts surveyed indicated the return on investment, the possible loss of investment income and the presence of a major shareholder. The last criterion, according to many market participants, is evidence of the fund's reliability.

According to Larisa Gorchakovskaya, Director General of NPF VTB, “if the shareholder is, for example, a large state-owned bank, this will be an additional guarantee of reliability.” In addition, she points out, the future pensioner needs to clearly understand where and how the fund accepts documents for the payment of pensions. So that later you don’t have to travel across the country to the only office of the selected fund to apply for a pension.

The profitability shown by the selected NPF, as noted by most of the market participants we interviewed, must be looked at on a fairly long horizon - at least several years. Denis Rudomanenko, General Director of NPF Lukoil-Garant, says that, given the length of the process of forming a funded pension, clients should definitely look at the accumulated profitability. On what results your fund shows on the optimal period for evaluation - at least within 8-10 years. “A one- or two-year return is not a good measure of the performance of the fund that manages your pension,” he says.

Profitability of the portfolio of pension savings of the largest funds in 2016*

	Return on investment, %	Number of clients	Retirement savings (thousand rubles, market value)
"Promagrofund"
"Gazfond Pension Savings"
KIT Finance


"Agreement"
NPF Sberbank
"Safmar"
"NPF Electric Power Industry"
"Lukoil-Garant"
"Confidence"
"Future"

* The ranking includes funds with more than 1 million insured persons.

Every year the number of Russians who prefer to keep their pension savings in NPFs is growing. At the beginning of 2018, the value of PFR assets in rubles was 1.8 trillion, and there were 2.4 trillion in NPF accounts for the same period. rubles. In September 2018, the amount of funds of clients of non-state PF increased to 3.6 trillion. rubles. To whom and where to entrust the savings - to the Pension Fund of the Russian Federation or the NPF, it is necessary for each future pensioner to decide.

Structure of pension contributions

According to the letter of the law, the pension consists of two parts: insurance and funded, respectively, 16% and 6% of the total amount. The insurance component is stored only in Vnesheconombank (PFR) and is used to pay pensions to those who have reached a certain age. It is assumed that the second, accumulative part, will become the object of investment and will bring profit to the depositor in the future. In addition, any citizen can form a future funded part on his own, for which he makes voluntary contributions to the selected organization.

What is the difference between insurance and funded pensions, look at the picture:

Important! In 2014, the State Duma adopted a draft moratorium, or freezing of funded pensions. To date, employers' pension contributions are fully used to form the insurance part of the pension.

How to determine which is better - NPF or PFR?

Both the state and private pension fund have similar tasks: to accumulate and manage the deposits of citizens, to reduce the risks of depreciation money supply ensure a return on investment. At first sight , what is the difference is not entirely obvious, besides, each structure has its own advantages and disadvantages. Therefore, future pension recipients have a question - where to entrust their savings?

FIU or NPF? See the video for a brief overview:

Advantages and disadvantages of the PFR

look comparative analysis VEB portfolio returns in recent years:

The PFR, or the Pension Fund of Russia, collects contributions paid by employers, places them on accounts, and distributes funds. PF is a state structure that implements a social program for the payment of maternity capital, for social payments to disabled people and participants in the Second World War, and other categories of citizens.

The benefits of the Pension Fund of the Russian Federation include:

Safety and reliability. The structure cannot become bankrupt, or lose its license.
Guarantee of indexation of funds taking into account inflation by investing in government bonds. According to the Central Bank, the average yield of PF is 7% per year.
No taxation of accumulated funds.

The main drawbacks of the system are low returns compared to NPFs and difficulties with inheriting capital.

Pros and cons of NPF

NPF is a private fund, whose activities are regulated by law, dealing with the social security of citizens. The fund invests the funds invested by investors in various investment projects and receives income. Since the list of possible financial instruments is long, the profit of an NPF can be much higher than that of an FIU. But there is also a risk of loss if the investment turns out to be ineffective. The benefits of non-state funds include:

Strict government control.
A wide network of agencies providing a high level of service.
The possibility of establishing inheritance shares on a contractual basis.
The accumulated amount can be received at a time when you retire.
Opportunity to change from one private fund to another every 5 years.
Mandatory deposit insurance. If a license is revoked from a private fund, the savings will be transferred to the state, without indexation and with the loss of accumulated interest.
Transparency of settlements, monitoring of the amount pension contributions and accrued interest personal account.
High reward amount.

What is the percentage of profitability of PFR and NPF? For example, NPF Almaznaya Osen increased the savings of its depositors by 11.2% against VEB's 8.5% in 2017. Based on these data, you can understand where it is more profitable to store pension savings.

Where NPF funds are invested, see the picture:

The main disadvantages of NPF:

Risk of bankruptcy and loss of investment income.
High requirements of the Central Bank for this sector of the economy, as a result of violations, the organization risks losing its license.

Important! When choosing a non-state PF, you need to check whether it is included in the register of participating funds.

What to choose and how to go?

By default, all pension contributions are transferred to VEB. If the investor is satisfied with everything, his capital will be kept in the PFR until retirement. If the taxpayer wants his funded part of the pension to generate income, he needs to leave the category of "silent" and notify the management company about this, and then decide on the choice of the NPF. In doing so, the following criteria must be taken into account:

Financial indicators: profitability, the amount of assets that make up the property of the fund, the increase in savings. It is necessary to pay attention to what percentage of profitability has been maintained over the past 5 years.
Length of time on the market.
Presence of major shareholders.
Positive media reviews or no negative ones.
Transparency of information and quality of service, including online.

The picture shows a sample application for the transfer from the PFR to the NPF:

In case of revocation of a license from a non-state fund, its assets are transferred to the FIU within 3 months. If depositors wish to keep the accumulated money, they should be transferred to another NPF, which should be notified by submitting an application. In this case, the main part of the savings will remain, and the investment reward is calculated based on the results of the sale of NPF assets.

To determine what is better than PFR or NPF of Sberbank, the largest NPF Russian Federation, and where it is more profitable to keep pension savings, consider the table:

It turns out that each structure has its pros and cons. . It is up to each citizen of Russia personally to decide where it is better to keep pension savings. To do this, it is desirable to master the basics of financial literacy and monitor the rating of organizations on which the future depends.

NPFs currently occupy a significant place not only in the system of non-state pension provision (NPO), but also in compulsory pension insurance (OPS). At the same time, the OPS segment became the main source of growth for NPFs. According to ExpertRa, in 2011, the amount of savings managed by NPFs increased 2.5 times from 155 billion rubles. to 393 billion rubles, which accounted for 36% of the pension market, and the size of the client base increased by 4 million people (an increase of 51.8%) and reached 11.87 million people. According to the forecast of Expert RA, by the end of 2012, the OPS segment will catch up with NGOs in terms of volume, and the own property of NPFs will increase by 20% and exceed 1.4 trillion. rubles.

The peculiarities of the activities of NPFs are such that some of its aspects are not subject to strict regulation within the framework of the legislation, in particular due to the non-state nature of these organizations. A characteristic feature for NPFs is a very long period of cooperation with insured persons and participants, which provides for planning activities in conditions of uncertainty and dependence on many factors. This uncertainty allows for a purely probabilistic approach to planning. From this it follows that the activities of NPFs are characterized by a number of non-standard risks that only insurance companies face in their work, but acquire a certain originality for NPFs, as non-profit organizations.

Thus, in view of the undeniable social significance of NPFs and their crucial role in the pension system, special attention should be paid to financial stability funds, protecting the interests of participants and insured persons, and the factor of guarantees and ensuring reliability should have the highest priority.

The presence of a significant number of risks in the pension system is one of the reasons limiting the development of NPFs in Russia. This fact, in turn, affects the efficiency of using the potential of NPFs. Since by attracting long-term investment resources to the economy and using them to the full, NPFs could play an even more prominent role in the country's financial market and become one of the factors for its stabilization and development.

All potential risks that NPFs may face can be classified into two groups. First, NPFs are exposed to internal risks, which are directly related to the effectiveness of management and the peculiarities of the functioning of NPFs. Secondly, these are external risks that do not directly depend on the activities of NPFs. Management of this group of risks is the sphere of activity of the state. Under state control are political and economic courses countries, formation of legislation on non-state pension insurance, taxation system.

Internal risks are of an individual nature and consist of asset management risk, liability management risk and administrative management risk. Asset management risk includes investment risk, which is certainly a key internal risk for the NPF industry, as well as the risk of non-receipt of pension contributions.

Investment risks imply the risk of not achieving a given return, preferably not lower than the inflation rate, and the risk of a decrease in current liquidity. This risk may lead to a failure to fulfill the direct obligations of the fund in terms of the profitability of accruals to pension accounts. As you know, the most delicate moment of investing pension funds is the balance between profitability and risk. However, for pension funds, limiting risk is much more of a priority than for any other portfolios.

In the OPS system, the NPF invests pension savings, the placement of which is strictly regulated and is possible only through management companies (MC) not affiliated with the NPF on the basis of a trust management agreement. As part of the NPF activities, NPFs form pension reserves. According to the current legislation, NPFs are allowed to place their pension reserves independently or through the management company. The practice of interaction between NPFs and management companies in the field of investment control comes down to two formats. The first format involves the creation of a separate division in NPFs responsible for managing financial risks. As a result, the fund independently develops its investment strategy and broadcasts it to the management company. At the same time, the fund conducts a rigorous audit of the methods of the management company and monitors the execution of the investment declaration submitted to the management company. Such a scheme of interaction requires significant material costs from NPFs, which explains its low prevalence in the Russian pension market. Most funds, when transferring funds to the management of the Criminal Code, follow the path of least resistance. They completely transfer the entire investment process to the managers, in rare cases holding joint investment committees with the management company.

A significant problem faced by NPFs is the selection of the most efficient management companies. There are various methods for such assessments, most of which are based on past returns and a combination of formal characteristics of the management company (length of service, number of employees, amount of funds under management). Since 2011, the National Association of Pension Funds (NAPF) has been developing an industry standard for risk management, which will outline measures for the overall organization of risk management in the fund, as well as the control of market, credit and operational risks. The development of standardization in the pension market is closely related to the problem of controlling investment risks.

NPFs that have a separate financial risk management unit and independently develop an investment strategy, based on the standard, get the opportunity to improve the investment process in accordance with the leading risk management practices in the market. The majority of NPFs, which completely transfer the entire investment process to the MC, acquire materials for the audit of the risk management systems of the MCs with which they plan to cooperate.

At present, less than half of the CMs in the trust management market have specialized divisions of the risk management system. The standard will include a significant list of requirements for the organization, including the mandatory presence of a separate risk management unit, the availability of methods and regulations used in the risk management process, as well as the procedure for updating them, and the employees of the unit responsible for risk management. Thus, in order to preserve the client base of NPFs, the management company should start reorganizing now in order to create elements of a risk management system.

Such a strict approach to the selection of MCs by NPFs will stimulate increased competition among MCs, and will help improve their efficiency and reliability. On the other hand, the introduction of the standard will lead to further consolidation of management companies in the pension segment, which in the current period is characterized by an extremely high level of captivity and a very uneven distribution of pension assets. All this will contribute to more transparent cooperation between the management companies and NPFs.

Two groups of restrictions have been identified that apply to the investment of pension savings by management companies: structural, relating to the list of objects and their share in the structure of the investment portfolio, and organizational, consisting in the requirements for an asset to be included in the investment portfolio and issuers of securities, in which investment of pension savings. Thus, drawing up an investment declaration and investing pension savings is carried out by the management company under the influence of a fairly large number of not always justified restrictions. In essence, this means that the NPF operates within a certain framework, which most directly determines the boundaries for improving the management of pension savings.

Due to the right of the insured persons to annually choose the method of managing the funded part of the pension, it becomes possible to withdraw from the management company part of the funds held in trust. This fact limits the investment of pension savings in securities that are undervalued based on the results of fundamental analysis, as well as in infrastructure projects, investments in which would undoubtedly contribute to an increase in the efficiency of investing pension savings. It seems that the improvement of activities for the trust management of pension savings is associated with the need to minimize the negative impact of this factor on the management company.

Thus, NPFs do not have permission to independently place pension savings, and the possibility of independently investing pension reserves has been significantly reduced. It can be concluded that the process of investing pension assets is essentially not entirely controlled by the funds, and, therefore, these restrictions hinder the ability of NPFs to fully prevent investment risks, which are the most common in the pension system.

The second type of risk in asset management is the risk of non-receipt of the depositor's pension contributions. This type of risk may provoke a situation of deviation towards the negative side of the investment return accepted in the actuarial calculations of the task, which may lead to the fund's failure to fulfill its obligations to accrue funds to pension accounts, as well as the fund's solvency when paying pensions.

The risks of NPFs in the management of liabilities are not so obvious, and the consequences of the realization of these risks usually manifest themselves in the long term. The risk of managing reserves and other liabilities lies primarily in the risk of errors in the assessment of existing pension liabilities and the risk of errors in the formation of new liabilities. When calculating the required amount of pension reserves, an actuarial valuation is used, based on the principle of equivalence of the size of pension reserves and pension liabilities of NPFs. To assess the amount of pension liabilities, as a rule, the mathematical expectation of the totality of future pension payments, discounted by the time of calculation, is used. This value is calculated taking into account actuarial assumptions, namely, the forecast of the dynamics of the rate of return on investments and population mortality tables. It is obvious that the creation of a correct actuarial forecast of the dynamics of the rate of return on investments for a long period, which implies the operation of pension contracts, in an unstable economy is a very difficult task. It should also be noted that the mortality tables were developed on the basis of data on life expectancy for the country as a whole. However, life expectancy indicators for the contingent of participants in a particular fund may differ markedly from the average data. For NPFs, it would be more rational to use mortality tables developed for specific regions or for a category of people in a certain profession, since most funds are corporate organizations.

Thus, inaccuracies in the assessment of pension liabilities can be caused by the use of incorrect formulas and calculation algorithms, errors in the development or operation of computer programs, errors in the source data, namely, distorted information about the gender of participants and their date of birth, or, as noted above, incorrect assignment of actuarial proposals (actuarial returns and mortality tables) when making calculations. In these cases, you can get a wrong idea about the obligations of the fund.

A special kind of liability management risk is the risk that the real amount of pension payments exceeds its average estimated value. It arises, as a rule, under the influence of fluctuations in the mortality of NPF participants. So, even when using theoretically adequate actuarial assumptions, the use of only the mathematical expectation of discounted pension payments to estimate the required amount of pension reserves is not enough due to the random, probabilistic nature of the flow of pension payments. At the same time, the more participants an NPF has, the smaller the ratio of the possible deviation of the amount of payments to its average estimate will be. This circumstance makes large pension funds more reliable than small ones.

Another significant internal risk in the activities of NPFs is the risk of administrative management. This category may include the risk of unqualified management of the fund, the risk of a crisis of founders and partners, as well as various operational risks associated with an incorrect organizational structure, methodology, personnel, software and hardware errors.

It should be noted that the risk of dishonest or unskilled management of the fund and operational risks were more typical for the first stage of the formation of NPFs, when a number of funds were organized according to the principle of financial pyramids. Partnership risk lies in the possibility of financial losses due to default by counterparties. The cooperation of NPFs is legally fixed with many financial partners (management companies, banks, special depositories). Of course, the results of activities depend on the choice of a financial partner by the NPF. This type of risk also decreases with the development of the non-state pension insurance system, since it is directly related to the development of business reputation and the accumulation of experience of financial institutions in the pension services market.

The crisis of the main founders can be indicated during the period of financial decline in the economy. However, the likelihood of such crises is very low and does not pose a significant threat to NPFs. Since the legislation prohibits NPFs from investing more than 10% of the investment portfolio of their pension reserves in the projects of the founders.

Do not forget that most of the risks that NPFs face in their activities do not depend on the fund itself, and the responsibility for some of them lies with the state, and some is due to the global state of the economy. External risks consist of the risk of changes in legislation, demographic risk, and, in addition, the risk of a stock market crisis and an economic crisis.

The legislative base of the pension reform is being continuously improved, amendments and additions are made to it. During the years of the reform, the legislation has changed several times. At the same time, practice shows that consistency, detailed elaboration and a minimum of changes in the program after the adoption are extremely important for the success of the pension reform. legislative framework. Today, reforming the accumulative component of the pension system is not a way of its survival; forced, but it needs to be improved.

To ensure the sustainable development of the NPF system in modern conditions, it is necessary to create a specialized department responsible for regulating the industry and having the right to initiate legislation. Currently, the NPF is essentially controlled by the Ministry of Health and social development(directly issues of pension provision), the Ministry of Finance (investment activities), the Ministry economic development(strategic issues) and the FFMS of Russia (licensing and operational supervision). Consequently, the approval of legislative changes on NPFs implies the coordination of the positions of these state authorities, which leads to a significant prolongation of the process of making the necessary legislative decisions.

In 2012, the first payments under the OPS are made. The law on payments of the funded part of the pension was adopted by the State Duma at the end of 2011, but it requires significant revision and the adoption of additional regulations. All four departments should take part in finalizing the legislation, which implies that there is a high probability that the regulatory framework will not be ready by the due time and there is a risk of failure to pay pensions under the law. And problems with the payment of the first pensions can deal a serious blow to the reputation of the NPF. The presence of a single profile regulator of the industry would help prevent situations similar to the one that arose during the adoption and finalization of the payment law.

Disputes over the advisability of introducing a single regulator in the pension segment have been going on for a long time. Recently, however, NPF managers have predominantly spoken out in favor of its creation. Thus, according to the results of an interactive survey conducted by rating agency ExpertRA, within the framework of the IV annual conference "The Future of the Pension Market", the vast majority of pension fund managers (88%) were sure that a single regulator is needed for the harmonious development of the pension market. At the same time, the majority of participants in the interactive survey believe that the FSFM or a separate body under the FFMS (67%) should become the profile regulator.

The demographic risk in the activities of NPFs is due to changes in the state of the demographic situation. The number of the population of retirement age is growing noticeably. According to Rosstat forecasts, in the next 20 years the ratio between the population of working and retirement age will worsen by one and a half times. By 2050, according to UN forecasts, this ratio will decrease by almost 2.5 times. If you look at the 100-year dynamics from 1950 to 2050, you can see that the number of retirees per worker has increased five times. According to Rosstat data for 2011, the average life expectancy in Russia was 69 years. At the same time, there is a trend towards a steady increase in life expectancy as a result of improving its quality and working conditions. For example, the average life expectancy of a woman in Russia since 1940 has increased by 44% from 42 to 74 years. It is clear that under such conditions the mechanism of the pension system cannot operate without serious changes. Therefore, now the question arose of raising the retirement age in the Russian Federation. This circumstance, in turn, can significantly affect the activities of NPFs.

It is necessary to take into account the listed risks, as well as to take into account the possibility of other risks. The exclusion of risks from consideration may lead to an excess of the amount of obligations assumed by the fund for the payment of pensions over the amount of formed pension reserves. Despite the fact that actuarial errors will appear, perhaps not in the first years of the NPF's operation, they are likely to have a negative impact on the reliability of the fund. From the foregoing, we can conclude that the achievement of absolute reliability of NPF impossible, however, a set of measures taken that take into account all categories of risks, to a large extent contributes to improving the reliability of NPFs.

NPFs have already created a socially significant basis for a non-state system of funded pensions. For its development, it is necessary to change the format of state regulation of NPFs, introduce standardization and increase the reliability of participants. A gradual transition from a strict restrictive policy in the field of placement of pension funds to prudent investment rules, the development of own risk management systems in funds and management companies, as well as building clearer relationships with management companies should become priority areas for improving the business processes of NPFs in order to strengthen their reliability.

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How I was secretly transferred to the left fund and what it cost me

At the end of 2017, I received a call from a non-state pension fund and was told that I was now their client.

Alexey Kashnikov

suffered from scammers in NPF

I didn’t conclude any contracts with anyone, and when I started to sort it out, it turned out that 80,000 R was actually stolen from me from my future pension.

At one time, I myself worked as an NPF agent, but even knowing all the tricks of insurers did not save me. In this article I will tell you how unscrupulous NPF agents can secretly deceive you.

This article is just the beginning of my fight against scammers. When there is some kind of continuation, I will supplement the article and report it on social networks - subscribe. But while I punish the scammers, a lot of time may pass, and you need to protect yourself from them now, so do not wait for my situation to be resolved - be prepared in advance.

What kind of NPF and what does old age have to do with it

Our future pension is divided into two parts: insurance and funded.

The insurance pension is money from people from the future. When you are old and someone else is young, the young will be thrown into your pension. How much you will receive in this part depends on many factors, from your experience to the scale of our country's imperial ambitions. We can significantly influence the size of the insurance pension, except perhaps by improving the demographic situation in the country, so that during our old age there will be many able-bodied taxpayers in Russia.

A funded pension is your own money, which the state has allowed you to set aside in advance for old age. So you would give all your deductions to current pensioners, and now you can leave part of it on the account. You can do nothing with the funded pension - and then your insurer will be the Pension Fund of the Russian Federation, which by default will send savings to the management company VEB. People who choose this option are called "silent".

You can consciously choose the Pension Fund of the Russian Federation as your insurer by writing a statement about it. Then you will also remain in the FIU, but you will not be considered a “silent person”. You can also invest a funded pension through a non-state pension fund (NPF) and receive income with it. If the income is good and in the next 25 years no one decides to use it for the imperial ambitions of our country, then in old age you will have something to live on.

This is the same as if you are now investing part of your salary in stocks and bonds. You invest, investments bring income, and in old age you receive a pension from this money. Now imagine that it is not you personally who invests, but some management company that collects a lot of money from the population, invests this pile in financial instruments and makes a profit. This company is the NPF - a non-state pension fund.

Non-government pension funds earn from the profits they generate for their depositors, so they compete for clients. The more clients, the more money and the greater the potential profit. Sometimes, in pursuit of turnover, funds begin to play a dishonest game - and let's talk about that.

NPF agents

Non-state pension funds are financial companies, they deal with money: a million there, a million here, bought paper, sold paper, debit-credit. They do not always have a network of offices throughout Russia and their own sellers.

In order to attract money from the population, NPFs quite often turn to the services of agents. The agent sells the services of the NPF for a fee - it can be a person or a company. For example, an NPF can negotiate with a promoted bank so that it sells the services of this NPF to its customers. For each executed contract, the NPF pays a fee to the bank. Everyone is happy.

Agents can be banks, shops, website owners, your postman, your Apple dealer, your employer, and even all sorts of shady characters. By and large, the NPF does not matter through whom you executed the contract: the main thing is that you agree to transfer your money to this NPF. And the main thing for the agent is to draw up papers and get your fee. It doesn't matter to everyone, so it turns out ...

The fund works with agents directly or through brokers

Early transfer to another NPF

The state wants you to choose one pension fund and leave money there for a long time. Therefore, according to the law, you can move from one fund to another without financial losses once every five years. If you switch early, you will lose all investment income.

That is exactly what happened to me. In 2015, I signed an agreement with NPF "Doverie". At that time, there were 33,000 R in the savings account. For two years, my NPF invested money, and I received income. When I was fraudulently transferred to a new NPF, everything I earned burned down, and the original 33,000 R remained on the account.

But the losses didn't end there. The fact is that money from one NPF to another is not transferred clearly on January 1, but in the period from January 1 to April 1. That is, if during this period the funded pension has already left the old NPF, but has not yet entered the new one, then during this time you will not receive any income either. In fact, the money may freeze, they will be transferred to a new account later - in my NPF they told me that sometimes the deadline is delayed until September. With a yield of 10%, losses increase from 6930 to 8000 R.

I was quite satisfied with the yield of my old NPF - 10%. This is twice the rate of inflation. Now I am 35 years old, I have at least another 25 years before retirement. All this time, the lost money would continue to work. With a yield of 10%, 8,000 R by 2042 would turn into 80,000 R! I will miss this amount due to the fact that back in 2017 someone decided to transfer me to another NPF.

How scammers deceive in NPF

Some agents make a transfer from one NPF to another secretly from the client: the main thing is to get passport data and SNILS number from him. For each client brought, the agent receives from 500 to 5000 R, depending on the amount on the account of the future pensioner.

When I worked as an agent, our company used only legal ways to find clients. The most common are door-to-door visits and holding meetings of employees in large organizations. In addition, so-called cross-selling was widespread, when credit managers in banks or stores acted as agents. They suggested that clients conclude an agreement with NPFs when they received a loan or bought goods on credit. Before signing the contract, the client was always told what kind of fund we represent, what profitability it has, etc.

Width="1350" height="1424" class=" outline-bordered" style="max-width: 675.0px; height: auto" data-bordered="true"> In 2013 when I was working for a brokerage - agent, NPF paid from 1200 to 1500 R for each client

How they cheat when going around apartments

Sometimes agents cheat when going door-to-door, when you can talk to a person one-on-one, without witnesses. For example, agents pose as employees of a pension fund. From the point of view of the law, everything is clean here, because the NPF is also a pension fund, only a non-state one. A potential client, on the other hand, thinks that they came to him from the Pension Fund of the Russian Federation, and trusts the guest.

Offering a contract, agents can intimidate, saying that it is necessary to sign it, otherwise you can lose part of your future pension. This, by the way, is also half-truth: the agent can show the profitability of the fund - if it is higher than your current NPF, then part of the future pension is really lost.

Our competitors even opened a company with the name "Gosfond", issued certificates to agents with such an inscription - and sales soared. Conscientious NPFs never do this - we have the phrase "I'm from the pension fund" was banned.

One of my clients told how agents came to her house and said that our fund had closed and she had to urgently sign an agreement with a new NPF. In fact, our company simply merged with another NPF and changed its name. Competitors found out about this and began to scare customers.

Agents came to my house too. I let them in out of professional interest. They used this technique: they asked for SNILS “for verification”, they immediately called somewhere and told me that I was no longer in the customer database and that the contract urgently needed to be reissued. In fact, they checked SNILS with the combined database of several NPFs, but I was not there, because my fund simply did not submit data there.

How to cheat during a cross-sell

An employee of a bank, insurance company or microfinance organization can simultaneously work for an NPF. In this case, you may be given to sign an agreement under the guise of other documents. For example, when you apply for a loan in a store and put signatures on a large number of papers. They may say that this is an insurance contract, it is free.

Many recruitment agencies work this way. The task is facilitated by the fact that for employment they need the same documents as for concluding an OPS agreement: a passport and SNILS. Applicants come to a recruitment agency and fill out a job search form. In fact, they are given to sign an application and a questionnaire for transfer to the NPF. Citizens after filling out the questionnaire are told that they will receive a call. They will have to confirm that they agree to the transition, and then they will be contacted for work. When the client confirms the transfer to the NPF, they may indeed be offered some vacancies, or they may even forget about it.

One client told me how an unfamiliar man came to their village and said that he was recruiting people for work. Under this pretext, he collected passport and SNILS data from those who wanted to find a job, then he gave them some papers to sign and left. No one got a job, but the next year everyone received a notice of transfer to the NPF.

OPS agreement in triplicate. There will be 3 copies of the contract in total, each of which will be signed at least in two places.
Applications for early transfer. Usually, just in case, clients are given two applications to sign at once: on the transfer from the PFR to the NPF and on the transfer from the NPF to the NPF.
Consent to the processing of personal data.

Forgery of signatures

Forgery of signatures is already a crime. The fraudster receives a passport and SNILS, forges signatures, submits documents to the NPF - it seems like he himself sold services to a person. The client learns that he moved to a new NPF, only a few months later, having received a letter from the old one.

This is what happened in my case. As I later found out, an employee of the bank where I received the card transferred me to the new fund. She scanned my passport and SNILS, which was in the passport cover, quietly filled out the documents and reported to the fund: “Here, they say, they brought you a new client, give me money.”

It is difficult to avoid such a situation, because the cases when we are asked for copies of the passport and SNILS are not rare. At the same time, non-state pension funds themselves are trying to fight fraud. For example, they call and clarify whether the client really entered into an agreement - this is how they double-check the integrity of their agents.

Some NPFs require a photo of the client's passport from agents. True, scammers manage to bypass these barriers, buy databases of scanned documents, enter their own phone numbers into the contract in order to answer calls from NPFs on behalf of clients.

One of my colleagues from the NPF told me that scammers open entire factories for the production of false contracts: they hire special people who forge signatures, other employees answer the phones of the NPF, confirming the transition, and others hand over documents.

According to the law, forging signatures, providing copies of the passport and answering for the client by phone is still not enough to transfer the pension. After that, my identity and signatures are certified by one of three options: a personal visit to the FIU or the MFC, with the help of a notary public or an electronic signature. Who confirmed my identity, I don't know yet. My new NPF ignored this question, and now I am waiting for a response from the Pension Fund.

How to check if your money is safe

It will not work to find out if you were transferred ahead of schedule without your knowledge until the money leaves one NPF to another. In the old fund, they find out that the client has dropped out, already in fact - from the PFR. You will receive a letter stating that your money is in the new NPF, also only after the transfer.

Therefore, you need to regularly check if you have changed NPF. You can check it on the website of public services by selecting the section “Notification of the status of a personal account in the PFR” in your personal account:

Click "Get Service" and then "Get Full Details":

When the statement opens, you will see all the deductions of your employers and your insurer, as well as the date the contract with it comes into force:

The amount of the funded pension and profitability are not reflected in the statement, they can be found in the fund - on the website or by calling the hotline.

The agreement does not come into force immediately, but next year. If, while reading this article, you remembered that you recently signed something like that, you have a chance to return to the old NPF without financial losses. Find the new fund's hotline number on their website or in your copy of the contract and find out how to cancel the transfer.

What to do

If you find out that the funded part of the pension was transferred to a new NPF secretly from you, go to court demanding that the contract be declared invalid. The money, together with the accumulated income, will be returned within 30 days - in such a situation, a special procedure for transferring the funded pension applies.

To do this, request by registered mail from your new fund an agreement and consent to the processing of personal data that you allegedly signed. They can be used as evidence in court. When I received my documents, I saw that the signatures for me were made by someone else's hand. Now I have filed a lawsuit.

You can go to court even if you signed the contract yourself, but you were not told about the loss of profitability. As practice shows, the courts also satisfy such claims.

Remember that the law is on your side. If you yourself did not sign the contract or you were misled, then you can prove everything in court.

Unfortunately, many people, when they find out about the transfer to a new NPF, simply wave their hands at it: they say, the money is small, why bother now, maybe the new fund will be better. There are three things to understand here:

Now the money is small, but in 10-20 years they will run into significant interest.
The choice of an insurer for compulsory pension insurance is your legal right. If you did not choose this NPF, there is no reason to stay in it.
Most likely, you will only need to collect documents and appear at the court hearing. My lawyers say that they are not needed there and I can do everything myself.

Remember

If you change NPF more than once every five years, you will lose investment income.
It would seem that small lost amounts of investment income for retirement can turn into tens or even hundreds of thousands of rubles.
Carefully read all the documents that you sign when obtaining a loan or employment (and in general always).
Your passport and SNILS are enough for scammers to transfer you to a new NPF.
If you have become a victim of unscrupulous agents, complain to your new NPF, the Pension Fund of the Russian Federation and the Central Bank.
To return the funded part of the pension and income, apply to the court with a claim to recognize the OPS agreement as invalid.