Non-governmental pension funds’ reserves reach 3.2 trillion rubles

Pension savings and reserves of non-governmental pension funds (NPFs) increased by 3.3% in 2016 Q3, reaching 3.2 trillion rubles, or 3.9% of GDP. The data are presented in the Review of Key Indicators of Non-governmental Pension Funds.

The Review notes that tighter regulatory requirements spur NPF consolidation. To keep the costs down, owners resort to mergers of funds. As a result, the share of top-20 NPFs by assets has increased from 89.2 to 90.7% over the reporting period.

The investment portfolio of pension savings of the Pension Fund of the Russian Federation (PFR) amounted to approximately 2 trillion rubles and aggregate investment portfolio ratio of NPFs to PFR amounted to 6.3%. Pension savings in Q3 grew largely due to investments.