On non-governmental pension fund compliance with requirements of participation in rights assurance system of insured persons

On 5 February 2015, the Bank of Russia considered applications of the following entities:

closed joint-stock company National Non-Governmental Pension Fund (licence No. 288/2);

joint-stock company Non-State Pension Fund VTB Pension Fund (licence No. 269/2)

and confirmed the compliance of the Funds with the requirements of participation in the rights assurance system of the insured persons based on the provisions of Federal Law No. 422-FZ, dated 28 December 2013, ‘On Rights Assurance of the Insured Persons in the Compulsory Pension Insurance System of the Russian Federation Regarding Formation and Investment of the Pension Accruals, Determining and Conducting the Payments Through Pension Accruals’.

Considering the Bank of Russia decisions taken earlier, the Bank of Russia has already approved 18 non-governmental pension funds as regards their compliance with the requirements of participation in the rights assurance system of the insured persons. These funds manage 890 billion rubles of pension savings which account for 79.60% of the non-governmental pension fund pension savings market.

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05.02.2015 00.00.00