Total pension funds in NPFs grow: 2022 Q3 results
The amount of pension savings of non-governmental pension funds (NPFs) surged 1.2% to 3.1 trillion rubles while pension reserves rose 1.6% to 1.6 trillion rubles. According to the Review of Key Indicators of Non-governmental Pension Funds for 2022 Q3, such growth was associated with positive returns on investment.
However, the weighted average returns on NPF portfolios shrank against 2022 Q2. First, this was due to the deteriorated dynamics of corporate bonds in which NPF pension reserves and savings are largely invested. Second, there was a drop in the equity market. This resulted in a negative revaluation of the portfolios of those funds that recognised securities at their current market value. In 2022 Q3, NPFs generally tended to increase their investments in corporate securities and decrease those in government securities.
The number of persons under the voluntary pension scheme grew by 9,900 and reached 6.2 million people.