Which pension fund to choose: reviews, rating. Which non-state pension fund is better to choose?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The pension system in the Russian Federation is built in such a way that citizens independently decide where to direct their savings: to form the insurance or funded part of payments. All people had the opportunity to choose until 2016. For two years in a row, the ability to distribute savings has been suspended. For all Russians, deductions from wages (22%) form the insurance part of the pension. Therefore, the question remains, which pension fund to choose to fulfill these tasks: public or private?

How is the pension formed?

Before deciding which pension fund to choose, let's study in detail the structure of the pension. This social payment consists of the main, funded and insurance parts. The first is set at a fixed rate and is clearly stated in the law. Insuranceand the cumulative part depend on the results of human activity. The employer monthly deducts 22% of contributions for each employee, of which 16% are directed to the formation of the insurance part, and 6% to the funded part.

Most of it goes to payments to current pensioners and is taken into account in the form of state obligations to a particular citizen. The accumulative part is deposited on the individual account of the insured person. It is these savings that can be properly disposed of. So that savings do not depreciate by the time a person retires, they should be invested. Each citizen decides for himself who to trust this process: public or private PF.

How to get a big payout? To do this, you need to participate in the formation of capital. In addition to the compulsory insurance program, you can also participate in the co-financing program and form an additional pension. To do this, you need to know which non-state pension fund to choose. Reviews, ratings, working conditions, additional services - all these indicators influence the choice of a particular organization.

Changes in savings

Since 2014, the funded part of the pension has been reduced to 2%. This greatly affected the amount of future payments. Those who wished to keep their savings started looking for NPFs back in 2013. There were many who wanted to regulate the amount of their pension savings. The insurance part of the payment, which is formed in the PFR, is indexed to the inflation rate, and the funded part is indexed to the level of profitability of the management companyor NPF. Therefore, the question of which non-state pension fund is better to choose is so relevant.

NPF

Non-State PF is a non-profit organization that was created to provide pensions to Russians. Its activities are regulated by law. NPF and PFR can act as an insurer of a citizen in terms of the funded component. When a person reaches retirement age, the fund begins to pay pensions calculated on the basis of the amount of savings formed in a separate account. NPF enters into agreements with each client.

Why even think about which non-state pension fund is better to choose if all the same functions are performed by the PFR? The NPF distributes only the funded part of the pension. Just as every person has to decide where to buy an OSAGO or CHI policy, Russians are free to choose an organization that will distribute their savings.

Risks

The activity of each NPF is regulated by federal laws and independent companies. Control over the activities is carried out by the Federal Service for a specific financial market, and the depository is responsible for the placement of funds. However, it is important to know which pension fund to choose. User reviews can be quite subjective. It is worth additionally finding information on a specific organization.

Ratings

Which pension fund is better to choose - this is one of the frequently asked questions. To answer it, you should readwith NPF rating from Expert RA agency. It provides an objective assessment of the majority of organizations operating in the Russian Federation based on indicators of profitability and reliability.

Expert assessment of the fund's activities is a paid service. Therefore, if an organization is not included in the presented rating, this does not mean that it no longer operates on the domestic market. However, doubts arise as to why the fund is not willing to disclose information about its level of return. Therefore, it is not advisable to work with such organizations. However, even large funds can have financial problems. If the selected NPF is liquidated, all accumulated funds will be transferred to the PFR within three months.

Rating is a comparative scale of an organization's profitability. It takes into account all indicators of the fund's performance in the market. According to the assigned assessments, each citizen can independently choose where to invest. Accordingly, each person makes the decision to transfer funds independently.

Selection process

Sooner or later, each person will come across an organization such as a pension fund - which one to choose? The rating is assigned to each by the agency's experts, who analyze about 25 performance indicators quarterly and annually. Based on the assessment obtained, NPFs are divided into the following reliability classes:

• A++ is exceptionally high.
• A+ is very high.
• "A" - high level.
• "B++" - acceptablelevel.
• "B+" - sufficient level.
• "B" - a satisfactory level.

There are also the lowest classes "C", "D" and "E". Which pension fund is better to choose? Reviews do not give an objective assessment of the organization's activities, so it is better to focus on NPFs with a rating of at least "A".

How to switch to another fund?

If the final decision on which pension fund to choose (public or private) has already been made, then you need to study in detail the issue of documenting the operation. To transfer savings, you need to conclude an agreement on compulsory insurance with the selected organization and submit a corresponding application to the FIU. Each citizen can change the decision regarding the insurer no more than once a year. If the issue of changing the pension fund was raised for the first time in several years, then you first need to find out exactly where the citizen's savings are. This information can be obtained from the local FIU office.

How do I find out my account balance?

Every year, before September 1, each NPF must send information to the insured person about the state of his pension account, about the results of investing savings. Similar reports are sent by the state PF regarding pension savings. If the notification did not arrive by mail, it can be obtained free of charge at any territorial department of the Pension Fund of the Russian Federation in the form of an extract from a personal account. To do this, you need to provide an application, an insurance certificate and a passport.

How to control savings?

Needtake seriously the question of which pension fund to choose. Feedback from clients about the activities of the organization can vary significantly. Therefore, in addition to the rating, it is also necessary to analyze the services provided by a particular FIU.

As mentioned earlier, each fund must send information on pension savings to all insured persons annually. Some NPFs organize access to the “Personal Account” for clients on their website. Here you can find out the balance on the account and information about all transactions.

How are savings paid out?

According to the law, several payment options are allowed. The pension can be paid for life, in the form of an urgent or lump sum payment. In the second case, we are talking about funds that were accumulated under the co-financing program or from maternity capital. A lump-sum payment is due if the amount of the pension is 5% or less in relation to the total amount of the labor pension. All payments made by NPFs and PFRs are exempt from taxation.

Inheritance

Pension savings are transferred to successors in the following cases:

1. If the citizen who formed the savings died before the appointment of a labor pension, then the accumulated funds will be transferred in full. Assignees are citizens specified in the application, or successors by law. In the first case, you can specify any physical. face. In the second case, we are talking about relatives 1st (parents, spouses and children) and 2nd (brothers,sisters, grandchildren) queue.
2. If a person died after he was assigned a labor pension, he received the funded part indefinitely (that is, he did not allocate funds under the co-financing program as a separate payment), then the successors will not receive any money.
3. If a citizen dies after the appointment of an urgent payment, then the heirs have the right to receive the rest of the SPV.

In all of these cases, payments are tax-free.

Procedure

Before the expiration of 6 months from the date of death of a person, you must submit an application for the payment of the balance of savings to any territorial branch of the FIU. The decision is made within the 7th month after the death of a person, and the payment itself is made before the 15th day of the next month. You can receive funds at the post office or by transferring them to a bank account.

Which pension fund to choose?

The pension savings of the "silent people", who left all their savings in the Pension Fund, and in fact the funds are in the management of Vnesheconombank, depreciated under the influence of inflation. The total profitability of the bank for 2010–2014 is 44.25%, while the inflation rate reached 58.65%. NPFs have higher returns on average.

Which pension fund to choose? First of all, you need to familiarize yourself with the list of institutions that are included in the deposit guarantee system. For 2016, it included 32 NPFs. Zero return means that the investment has made a loss over the specified period. If NPF works on the principlerecoverability, then he compensates for losses from his own reserves.

According to Rusrating, the European Pension Fund turned out to be the most profitable over the past 5 years, it was able to show a profitability level of 102%. The Fund allocates its funds to the bonds of large Russian companies, for example, Freight One JSC, Magnit, and the Europlan leasing company. Its reliability is confirmed by numerous customer reviews.