NPF-managed pension savings grow by 19%

Pension savings and reserves managed by non-governmental pension funds (NPF) increased by 19% in 2016 to more than 3.2 trillion rubles, as evidenced by NPFs’ reporting data published on the Bank of Russia website.

Funds managed by non-governmental pension funds grew largely due to the 407.5 billion ruble increase in pension savings. The ratio of the total pension savings portfolio to GDP rose to 3.7% (+0.4 pp).

The transition campaign of 2015 resulted in the transfer of more than 3.9 million people from the Pension Fund of the Russian Federation to NPFs in 2016 increasing funds’ assets by 259 billion rubles.