The funded part of the pension in Sberbank: reviews

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

The formation of pension savings must be approached wisely. Therefore, before signing documents, it is worth studying in detail the history of the company and find out the conditions for investing. Only public or private PFs can pool funds. For more information on the conditions under which the funded part of the pension is serviced at Sberbank, read on.

NPF SB

Sberbank is Russia's largest financial group, which includes not only a credit institution, but also NPFs. The last one was formed in 1995. He received a license to carry out activities with pension savings only in 2009. The Foundation provides the following services:

1. Non-state pension provision for individuals.

2. Insurance under these compulsory programs:

• investment of accumulated funds;
• payment of one-time, periodic or lifetime benefits;
• co-financing of savings under government programs.

The National Rating Agency awarded the Fund the highest rating "A++". The financial results of the organization can be found on the website of the institution.

In 2013, the number of citizens who transferred their savings to the NPF SB amounted to 1 million people. A year and a half later, this figure has doubled. The total amount of savings in 2013 is 72 million rubles. The total return on investment for the previous 4 years was 52%, the average inflation rate was 33.88%.

Conditions

The funded part of the pension in Sberbank will bring more income, since the organization's capabilities are somewhat wider compared to other similar institutions. To transfer funds to the NPF, you must:

• apply to the branch of the organization with a passport and SNILS;
• sign a pension insurance contract (OPS);
• write an application to the state PF to transfer funds to a private fund.

Documents are accepted until December 31 of each year.

Payment of benefits through Sberbank

You can transfer the funded part of the pension to the NPF once a year. By choosing Sberbank as an organization for accumulating funds, the client can count on the fact that he will not have to stand in line waiting for the next payment. All funds can be transferred directly to a Sberbank card. To apply for the service, you must contact the branch with a passport andcertificate, fill out a special form, receive payment details and notify the Pension Fund of the transfer of a labor pension using the new details. After that, customers can withdraw funds through any nearest ATM, view the balance via the Internet, set up SMS notifications about the movement of amounts on the account opened with Sberbank of Russia.

The funded part of the pension is questionable

In 2015, a lot of controversy was caused by the government's desire to abolish the accumulation of deductions. According to the Ministry of Finance, this measure will bring the budget revenue in the amount of 370 million rubles. per year, but then the source of "long" money will disappear: NPF and Vneshtorgbank, which manages savings on behalf of the state, invested 3 trillion. rub. to domestic companies.

Economists immediately panicked. The abolition of the funded part would lead to a decrease in the replacement rate to 25% over 10 years. The insurance pension is indexed at the expense of budgetary funds, which may not be enough by 2018. As a result of such a reset, the amount of payments to pensioners will be reduced. The PFR can no longer cope with the load. Half of the payments are financed by the federal budget. The difficult demographic situation in the country, the early retirement of Russians (aged 55 and 60 versus 63-64 in the EU countries), as well as the high share of the shadow sector of the economy, only increase the burden on NPFs. This means that transfers from the federal budget will also grow.

Arguments

The only onethe reason for making changes may be a negative real return on investment. Over the past 5 years, the profitability of Vneshtorgbank amounted to 28.9%, and the inflation rate - 46%. Constant crises in the country only exacerbate the situation. According to the comments and reports of sociologists, people do not trust NPFs and change them one by one every year. As a result, organizations have to revalue assets. They simply do not have the opportunity to invest in long-term projects.

Citizens began to worry that the government wants to stint on their future income. But economists say this is not the case. The accumulative part, which is formed within 6%, will be used to replenish the insurance payment. Russians only need to contact the PF branch and write an application for the transfer of funds. One of the organizations that can receive the funded part of the pension is Sberbank. Customer reviews confirm that sometimes even with the design of such a simple procedure, they have problems. Applications are considered for a very long time, and sometimes money does not arrive in the account on time.

Structure

Many people still do not know how exactly the future pension is formed. The formula outwardly looks very scary and incomprehensible. But it's worth figuring it out. It consists of three terms:

• the insurance part is formed by monthly deductions from the salary (C);
• basic pension that a person will receive in any case, if he has worked at least a little in his life (B);
• accumulatedpart is 6% of the salary (H). A person can manage this amount independently by choosing an organization that will collect funds. This may be an asset management company (MC) or an NPF. You can, for example, transfer funds to Sberbank. The transfer of the funded part of the pension is processed directly at the branch of the credit institution.

These three terms are then multiplied by special coefficients, which depend on the length of service, salary and other nuances. As a result, the formula looks like this:

Pension=K1 x B + K2 x S + K3 x N.

The government proposed changing the coefficient of the third term to "0".

As the reviews say, not all Russians have a funded part of their pension in Sberbank or other NPF. There is a category of citizens who chose not to transfer funds from Vneshtorgbank. For such "silent people" the government can transfer the funded part of the pension to the insurance. As a result, deductions will increase from 16% to 22%. The total amount of the pension will also change, but not necessarily downwards. This is the essence of the new reform. So far, it has been rejected. But perhaps in the future the question of its adoption will rise again.

Main maintenance issues

On the forums you can find a large number of complaints about the lengthy procedure for processing documents. If a person wants to transfer funds from a public to a private PF or MC, then he must write an application to both structures before 31December of the current year. Upon completion of the process, a notification is sent about the amount of debited and received funds to the personal account in NPF Sberbank. The funded part of the pension, the percentage of deductions for which is currently 6%, must be transferred before March 31 of the next year. But user reviews say that these deadlines are often violated. Only one thing can be advised here: after the time has elapsed, call both organizations and find out what happened to the money. No less problems, judging by the comments of pensioners, arise in the case of transferring funds from Sberbank to another NPF. The same rule applies here as in the previous condition. Funds must be transferred by March 31 next year. So, if the client applied in April of this year, he will have to wait 11 months.

According to financial statements, the average annual profit of NPF SB is 5-6%. But the fund has many investment programs, and it is not a fact that all of them will bring profit. In addition, individuals often change NPFs. For such clients, the funded part of the pension in Sberbank cannot be invested on a long-term basis. Feedback from Russians confirms that according to the results of 2011-2012, the return on savings was 0%. The dissatisfied population during these years massively transferred funds to other NPFs.

The funded part of the pension at Sberbank: customer reviews

After analyzing the comments of Russians regarding the quality of services provided and the level of information availability, we can single out the following main advantagescooperation with the organization:

• Minimum package of documents. To conclude a contract, you only need a passport and SNILS.
• Design speed. The client can write an application at any of the nearest branches of the bank. And in a few days, employees will call back and set a time to sign the contract.
• Access to information. The account balance can be viewed through the "Personal Account" on the NPF website.

Disadvantages (according to the feedback from the organization's clients):

• time to prepare a certificate of investment results is 30-60 days;
• frequent technical failures in the system;
• NPF SB, although profitable, does not break profitability records.

Conclusion

Russians can independently choose which organization will deal with the accumulation of the funded part of their pension. One of the largest NPFs in the country was established by Sberbank in 1995. As of 2013, 1 million Russians entrusted him with their pension savings. The institution is profitable. Clients' opinions about the activities of the organization leave much to be desired. Most of the customer complaints are related to the long term for obtaining statements of investment results and the lengthy procedure for processing the transfer from one NPF to another.