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Non-state Pension Funds industry reform

29.04.2016 14:27 / TASS

Privatization Must Be Expedited, says Voloshin

Privatization in Russia must be expedited as it is vital for the economy, Head of MIFC Taskforce Alexander Voloshin told TASS. "I am certain that privatization must be expedited. We need to run privatization this year, and go for more of it in the years to follow. This process should be incremental, reaching the point where the state share in the economy is down to a reasonable minimum", he pointed out. Voloshin is positive that 'the right time' will never arrive.

30.03.2016 12:43 / TASS

NPF Association to Become SRO by Summer 2016

The newly-formed Non-State Pension Fund Association (ANPF) expects to finish the process of registration with the Ministry of Justice by April 20 and receive SRO status by Summer 2016, says ANPF release.

22.01.2016 12:00 / TASS

NAPF to Become First NPF SRO

National Association of Non-state Pension Funds (NAPF) has approved the required documents for NAPF to apply for SRO status in the non-state pension market, says NAPF release.

06.08.2015 12:00 / TASS

Guarantee System to Cover 99% Pension Savings

Over 99% pension savings will be covered by the guarantee system by the end of 2015 года, says the National Non-State Pension Funds Association.

26.05.2015 12:00 / RBC

NPFs Will Reimburse Client Losses, Says CB

The Bank of Russia plans to introduce oversight mechanisms to monitor the effectiveness of NPF investments, announced Collective Investment and Trust Management Department Director at the Bank of Russia Philip Gabunia, speaking at the Future of the Pension Market Roundtable on Tuesday.

23.04.2015 12:00 / TASS

Russia Retains Funded Pensions

Funded pensions will not be abolished in Russia, Prime Minister Dmitry Medvedev told the Government today. He said that the decision is supported by most experts and citizens. “We must develop a predictable pension system, make it better and more optimized”, pointed out the Prime Minister.

10.12.2014 12:05 / Interfax

Central Bank Proposes Risk Management Based Investment Opportunities for NPFs

The Central Bank proposes to diversify investment opportunities for non-state pension funds (NPFs) based on their risk management systems, First Deputy Chairman Sergey Shvetsov told Moscow REPO Form on Wednesday.

24.09.2014 12:13 / vedomosti.ru

Working Pensioners Will Continue to Receive Fixed Pension

Prime Minister Dmitry Medvedev has turned down Minfin’s proposal to abolish fixed pension payments to working pensioners, a Government source told Vedomosti. A high-ranking Minfin official and Medvedev’s press officer Natalya Timakova confirmed that the proposal had failed to pass. The decision was carried out at Monday’s working session with the Prime Minister.

10.09.2014 12:06 / vedomosti.ru

Minfin Attempts to Save Funded Pension System

Minfin is making an attempt to save the funded pension system, which will be liquidated according to Deputy Prime Minister for Social Security Olga Golodets. The ministry has acquiesced to the withdrawal of over RUB 1 trillion worth of savings for 2014-2015, and is trying to keep the rest. Minfin has drafted a bill (posted on regulation.gov.ru), that limits withdrawals of pension savings to 2014-2015. Going forward, it is business as usual for the funded pension system, states the bill.

13.08.2014 16:57 / vedomosti.ru

Minfin Proposes to Protect Pension Savings from Nationalization

Deputy Finance Minister Alexey Moiseev requested that pension market participants draft proposals on “transforming RUB 1.1 trillion of pension savings (that the NPF have accumulated by 2013) into non-state pension programs”, four participants of yesterday’s meeting at the Finance Ministry. Moiseev confirmed to Vedomosti that he has made a request to the market “to consider joining reserves and savings under the guarantee system”.

20.03.2014 00:05 / RBC - daily

New CB Regulations May Force NPFs Off Market

Almost half of non-state pension funds could be forced off the market in the process of establishing a system of mandatory pension savings guarantees. According to CB requirements, to be eligible, NPFs must comply with new capital adequacy ratios. RBC data shows that 8 out of 20 major NPFs, accounting for over 40% of all pension savings, fail to comply with the Bank of Russia requirements. Non-compliant funds will have to return pension savings to the Russian Pension Fund.

12.03.2014 13:40 / Interfax

AMs and NPFs Can Invest Pension Savings in Privatized Shares

The Russian Government has lifted restrictions on pension savings investment by allowing Asset Management companies and Non-state Pension Funds (NPFs) invest in Russian JSCs, privatized or sold by the Bank of Russia.

23.12.2013 12:38 / PRIME

Duma Passes Non-State Pension Fund Corporatization Law

At the plenary session on Monday, the State Duma passed in the second and third reading a law on non-state pension funds corporatization, part of the pension reform package of bills.

17.10.2013 15:56 / PRIME

Non-State Pension Funds Corporatization Draft Bill Introduced to State Duma

The Russian Government has introduced a draft bill on corporatization of non-state pension funds, according to the Lower House database.

17.10.2013 14:12 / RIA Novosti

Russian Government Signs Off on Labor Ministry’s New Pension Formula

The Russian Government has approved a series of draft pension bills by the Labor and Welfare Ministry, said Labor Minister Maxim Topilin on Thursday.

17.10.2013 12:45 / PRIME

Shvetsov: The Pension Reform Aims to Make Retirement Comfortable

In the process of non-state pension funds regulation, the Russian authorities should be aware of the fact that their main goal is to make retirement comfortable, said First Deputy Chairman of the Bank of Russia, Head of the Central Bank Financial Markets Service Sergey Shvetsov at the MIFC Strategic Session at RIA Novosti.

03.10.2013 22:12 / PRIME

Minfin Reserves Funds to Return 2014 Pension Savings

The Russian Finance Ministry plans to create reserves for the return of pension savings made in the year 2014, now due to be transferred to the distribution system, head of the Ministry for Economic Development Alexey Ulyukaev told the press.

18.03.2013 14:34 / Interfax

Government Drafts Bill to Secure Private Pension Fund Savings

The Government has drafted a bill to secure pension savings in private pension funds, said First Deputy Prime Minister Igor Shuvalov.

14.03.2013 18:56 / vedomosti.ru

Minfin’s New Plan to Boost Trust in Private Pension Funds

“Private Pension Funds oversight must be similar to banking, in order to boost public trust in these funds”, said Deputy Finance Minister Alexey Moiseev.