Pension system accumulates over ₽7.5 trillion
In 2023, the aggregate portfolio of pension funds grew by 7.2% and exceeded ₽7.5 trillion at the end of the year. This was driven by positive returns on investment and the inflow of funds into the non-governmental pension system (NPS), including from private clients.
Pension reserves of non-governmental pension funds (NPFs) grew at the highest rate of 9.2%. Their amount reached ₽1.8 trillion. NPFs’ savings increased by 6.8% to ₽3.3 trillion. Pension savings of the Social Fund of Russia rose by 6.2% to ₽2.4 trillion.
In 2023 Q4, the proportion of investments in OFZs in the structure of investments of NPFs went up, while the proportion of corporate bonds and shares went down.
Over 2023, the weighted average returns of NPFs on pension savings and pension reserves equalled 9.9% and 8.8%, respectively, which exceeded the annual inflation rate of 7.4%.
Read more in the Review of Key Indicators of Non-governmental Pension Funds for 2023.