NPF funds hit 4 trillion rubles

Photo: Evgeny Razymny / Vedomosti / TASS

2018 Q2 saw a 175.2 billion rubles (4.5%) increase in the non-governmental pension funds’ (NPFs) resources to a total of 4 trillion rubles, according to the funds’ financial statements published on the Bank of Russia website.

The increase was helped by significant growth in pension reserves, which went up by 13.6%, or 166.1 billion rubles. As a result, pension reserves totalled 1.4 trillion rubles. Pension savings remained almost unchanged (+9 billion rubles), amounting to 2.6 trillion rubles.

On the contrary, in 2018 Q1, pension savings grew faster than reserves as the funds were transferred from the Pension Fund of the Russian Federation to NPFs as part of the 2017 transition campaign.

Faster pace of pension reserves growth is not linked to new participants entering the market – their number, as of the end of Q2, remained mostly the same – 6.2 million individuals. The number of insured under the mandatory pension insurance agreements stood at 37 million individuals.

29 August 2018

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