Hundreds of non-state pension funds are legally operating in Russia, offering citizens to transfer their savings.

NPF "GAZFOND" is one of the oldest in the market, it is known for its high quality service and regular payments both in the Russian Federation and in other countries. There are more than 200 branches in Russia, in each of which employees accept applications from citizens.

About NPF

Founded in 1994, NPF GAZFOND is subordinate to Gazprombank OJSC and its subsidiaries located throughout the country. Clients can use the services of compulsory insurance, as well as pension benefits.

The fund is a member of the international association of NPF Russell 2020 and is a co-founder of NPF organizations. At first, only Gazprom employees and their close relatives could use the fund's services.

Over time, it turned into an open organization, allowing every Russian to invest their funds for replenishment. According to the statistics of the official website, more than 400 enterprises cooperate with Gazfond in 2020.

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According to economists, this year the fund's profitability is minimal, but stable. Analysts believe that Gazfond is able to provide citizens with pensions for many decades.

NPF is engaged in long-term investments and does not offer high income for a couple of years. When switching to this fund, citizens must rely on 5 or more years of savings in order to receive a significant premium to their pension.

As the Gazfund grew, other organizations joined it:

• NPF Heritage;
• KITFinance NPF;
• NPF Promagrofond.

In 2020, more than 6 million people entrusted their savings to the fund, the amount of pension savings is 425 billion rubles. At the moment, about 16 billion rubles are being paid.

Terms of registration

To use the services of the fund, it is enough to conclude an agreement. You can sign papers at any branch, as well as online on the website, if the applicant has an electronic signature. Before signing, you can clarify the information by phone or in person.

When concluding a contract, a minimum package of documents is required. Fund employees advise potential clients on available pension schemes.

Then it is enough to make the first deposit and the account is opened. The fund works only by bank transfer.

The client has several options for making transactions:

• through the online system of any bank;
• bank transaction;
• at the Gazprombank terminal;
• withhold part of the salary on a monthly basis.

The foundation also offers the following services:

1. Receive a tax deduction on paid contributions annually (13%, up to 120,000 rubles).
2. Inherit funds from another client, if the person is his close relative.
3. Register in your personal account and receive data on savings without leaving your home.

What percentage

On average, the fund's return is 8%. It varies depending on the economic situation in the country and, taking into account inflation in 2020, is 4%. Clients' savings grow by this amount every year.

How to translate

In any division of Gazprombank, you can sign an agreement for the transfer of savings to NPFs. Registration takes up to 10 minutes and does not require any special paperwork.

Employees are asked to have a mobile phone with them, a confirmation of the transfer will be sent to the number.

All services are provided free of charge. If there is no branch at the place of residence of a citizen, you can send copies of documents, certified by a notary, to the address Moscow, st. Sergei Makeev, 13.

What documents are needed

To become a client of Gazfond NPF, a citizen must provide:

• the passport;

• pensioner's ID.

Employees have the right to request additional documents, for example, data on registration and the right to stay in Russia (if the applicant is a foreigner).

How to find out the amount

To find out the amount of savings and other data, the client must register in the Client's Cabinet on the NPF website.

To gain access to personal data, a citizen must fill out:

• data on the signed contract;
• email;
• basic data specified in the contract;
• phone number.

Registration consists of 3 simple steps:

• email registration, confirmation;
• input of basic data, verification;
• confirmation of the phone number, you will receive a code that you need to enter on the site.

Then the user creates a password to enter the site and gets access to the personal account data.

How to get the funded part of the pension in the Gazfond NPF

Pension savings are paid to citizens who receive contributions for old age. In NFP, it doesn't matter how a person became a pensioner:

• ahead of schedule;
• within the generally established terms (60 years for men and 55 years for women).

To receive the funded part of the pension, a person must meet 2 conditions:

• the onset of the citizen's right to receive a pension;
• have a sufficient amount of accumulated funds.

Persons whose insurance part of the pension is no more than 95% of the funded part can count on lifetime payments of the funded part.

In 2020, it is calculated taking into account monthly payments over 18 years. That is, a citizen can determine the monthly payment by dividing the total amount of savings by 2016 months.

Lump sum

Citizens whose savings amount is less than 5% of the pension amount can count on a lump sum payment.

As a rule, citizens born in 1953-1966 and 1957-1966 fall into this category, since it took them only 3 years to accumulate a pension (from 2002 to 2004).

In addition to the above-mentioned persons, citizens who are entitled to apply for a lump sum payment:

• have reached the established retirement age;
• receive any kind of disability pension;
• receive payments for the loss of the breadwinner;
• did not gain the required amount of experience to receive an old-age labor pension.

The main condition is participation in the funded scheme for any period of time.

Should I translate: pros and cons

1. The ability to replenish the account in any possible way, including by deducting part of the salary, through another bank, any bank terminal, online on the website or in person at the branch.
2. Take a tax deduction from contributions every year.
3. Choose any pension scheme, change it at any time.
4. Transfer funds to heirs or close relatives.
5. Terminate the contract unilaterally at the discretion of the applicant, having received the accrued interest and all contributions on the account.
6. Use your personal account, receive any information about your personal account within a few minutes, keep track of the receipt of funds.

Judging by the feedback from clients, the main disadvantage is the fund's profitability. In 2020, it is about 4%; an increase in 2020 is not expected. However, it should be taken into account that the profitability in the state pension fund is zero.

The fund has the right to stop indexing pensions at will, for example, to cover losses or to survive a difficult economic period.

Citizens who have transferred the funded part of their pension to NPFs have the opportunity to increase future payments. If you take care of your savings in advance, the Gazfond has all the conditions to ensure your old age.

Video: Advantages of NPF Gazfond

NPF Gazfond has existed since 1994 and is considered one of the most reliable structures of this kind in Russia. During its work, the fund was not noticed in fraud or breach of obligations to clients, therefore many Russians trust it.

As a result of diligent work, Gazfond has collected the largest amount of pension reserves among all NPFs in the country.

About the fund

The Pension Fund is annually awarded a host of prestigious prizes and awards, which is a confirmation of the high quality of its work. Another obvious advantage of this organization is cooperation with trusted management companies responsible for the competent investment of client investments.

NPF website

On the official website of NPF Gazfond gazfond.ru individuals and companies, as well as people who have already reached retirement age, can find a lot of useful information. Here are:

• Samples of documents, including contracts.
• Conditions for concluding agreements.
• Information about founders, management companies and investment policies.
• Contact Information.

The official website of the Gazfond pension fund can be used to obtain information on how to conclude an agreement, receive a tax deduction, issue certificates, and make a contribution. There is also a pension calculator.

By entering personal data and estimated contributions into it, you can calculate the approximate pension payments. This allows clients to compare the performance of several funds and choose the best option for themselves.

Services for companies

The fund offers corporate clients special programs for solving social and personnel problems. The fund's services are available to organizations working in any field.

Cooperation with the Gazfond non-state pension fund allows us to form a competitive social package, attract and retain qualified employees, increase the labor motivation of employees and ensure their social protection after the onset of retirement age.

NPF Gazfond JSC develops programs for various categories of employees, taking into account the specifics of the company and the scope of its activities.

Helpful information! There is a summary table on the Gazfond's official website that allows comparing the terms of various pension schemes.

Pension schemes for citizens

For individuals, the fund offers extensive opportunities for non-state pension provision. Every adult Russian can form his own pension at the expense of his own funds.

Important! For the formation of such a pension, experience is not required. Payments are made at the expense of contributions and the profitability accrued to the account.

NPF Gazfond offers citizens several pension schemes. They provide:

• Different periods of pension payments.
• Annual accrual of income to the account.
• An increase in payments with an increase in profit from investment of funds.
• The ability to change the amount of payments once a year.

A sample contract and comparison of pension schemes can be found on the fund's website.

You can find out the accumulated amount using the user account. This requires a simple registration. You need to indicate the details of the contract, e-mail and your phone number.

A confirmation will be sent to your e-mail or phone, which must be entered in a special field. Further, to obtain personal data, the user only needs to come up with a password.

Termination of an agreement

Upon termination of the contract, the client is paid a redemption amount or the funds are transferred to another NPF. To do this, you must submit an application and indicate. Where exactly should the funds be transferred.

At the same time, the Gazfond client does not receive income for the calendar year in which the agreement is terminated. In addition, a tax of 13% will have to be paid on investment income.

NPF reliability

RA Expert estimates the reliability of NPF Gazfond as very high. In this regard, the organization was assigned a “ruAAA” rating, with a stable outlook. This forecast means a high probability of maintaining this level in the medium term. The maximum rating has been assigned to Gazfond since 2004, it was confirmed in March 2018. The fund does not participate in the NRA rating.

Profitability and features of investment policy

As for the profitability of NPF Gazfond, data from 2005 are presented on the website. As of 2017, it was 9.91%, a year earlier - 11.41% according to schemes No. 2 and 3. According to scheme No. 4, the profitability in 2017 turned out to be equal to 9.78%.

Helpful information! Investing funds is designed for a long-term period, so the level of profitability should be analyzed taking into account several years.

In its investment policy, the fund focuses on increasing depositors' funds through special strategies and instruments, taking into account the current market instability.

The portfolio is based on securities of leading Russian companies and banking structures. Funds are also invested in stocks with a high level of dividends.

Such assets serve as protection in times of crisis.

The investment strategy of the Gazfond pension fund is based on:

• ensuring the safety of funds in any market situation;
• diversification and profitability, as well as investment liquidity;
• information transparency of the entire process;
• professional management.

Funds are invested only in assets permitted by law. Work in this direction is carried out under the control of government agencies and a specialized depository.

Today, 41.5% of the structure of pension reserves falls on investments in shares of organizations and enterprises, 27.1% - in corporate bonds, 20.7% - in units of mutual funds.

Transfer of the accumulated share to Gazfond and receiving payments

To transfer the accumulative pension share to Gazfond, it is enough to sign a corresponding agreement. This can be done in the offices of the fund or in any branch of Gazprombank. You need to have a passport and SNILS with you.

To receive the funded part in the "Gazfond" it is necessary to accumulate a sufficient amount of funds or retire. For citizens with an insurance pension that makes up to 95% of the funded one, the possibility of lifetime payments is provided. The rest of the pensioners can count on a lump sum payment.

The possibility of receiving a one-time payment applies to citizens:

• receiving a disability pension;
• those who have not gained the necessary length of service for retirement pension;
• receiving payments in connection with the loss of the breadwinner.

The main condition for receiving funds is to participate in any accumulative scheme of the "Gazfond" for any period.

GAZFOND is the largest non-state pension fund in Russia, formed in 1994. In the spring of 2014, a joint-stock organization was founded, into which the rights and obligations of insurance of citizens were transferred.

Today NPF has a high level of trust and demand among citizens of the Russian Federation. In this article, we will consider the level of its profitability, reliability, methods of entry and available cash accumulation programs.

The official website of the non-governmental institution is https://gazfond.ru. It contains all information about the joint stock company, company news, and so on. Using this site, it is also possible to send an application for a contract, calculate the amount of a pension on a calculator, make a contribution online or get advice from an experienced specialist. All users need to do is register and enter the section of their personal account.

Profitability

The level of the non-governmental organization "GAZFOND" is determined at the level of 4.95 percent. This point shows how productive the organization of the institution's work is. At the same time, the volume of available assets as of December 6, 2018 was about 522 million rubles.

Reliability rating

Expert RA agency, engaged in research communication activities, has determined the rating of the non-state pension fund at the A ++ level. This means that the organization, according to the national scale of the Russian Federation, corresponds to the maximum mark of creditworthiness, financial stability and reliability.

How to join?

In order to transfer to a non-state pension fund, it is only necessary to abandon the funded part.

1. Choose an NPF that conducts compulsory insurance. At the same time, he must have a license agreement, comply with the requirements of the law, register with the Bank of Russia and enter into the system of following the rights of insured persons.
2. Submit an application to the branch of the selected institution. The contract must preliminarily indicate:
   • Applicant's personal data (surname, name, patronymic);
   • Fund name;
   • Information about the object of the contract;
   • SNILS number;
   • Obligations and rights of both parties;
   • Grounds for receiving a pension;
   • Conditions and procedure for its installation;
   • Options for responsible actions of the parties in case of default;
   • Termination of the contract;
   • Requisite data of both parties.
3. Send an application for transfer to a private institution to the district branch of the state fund.
4. Wait until the notification of the decision is received.

Do not forget! It is allowed to transfer funds accumulated for retirement from one institution to another only once every 5 years for an urgent procedure and once a year for an early transfer.

Personal Area

The section of the personal account on the official page is located in the upper right corner. Depending on whether the client is an individual or a legal entity, you need to select the appropriate section.

Registration is possible through the e-mail address or the website of the State Services. Next, you will need to confirm the mobile phone number by entering the confirmation code sent by SMS. The final stage will be the formation of a password, a security question and waiting for an answer.
You can enter your personal account by entering your username and password in the appropriate fields.

Opportunities

By switching to NPF GAZFOND, clients will receive several unique opportunities:

1. Determine the period and amount of funds deposited independently.
2. Use the method of transferring contributions that will seem most beneficial and convenient to users.
3. Receive social benefits in the amount of 13 percent of the total money you provide;
4. Choose a pension scheme at your own discretion.
5. Terminate the contract with the company at any time, taking away the accumulated money.

How can I find out my savings?

You can find out the amount of accumulated payments in the corresponding section of your personal account on the official website of the company.

Hotline telephone of NPF "GAZFOND pension savings"

If you have additional questions, call the official hotline of the GAZFOND company: 8 800 700 83 83.

Attention! Due to the latest changes in legislation, the legal information in this article may become out of date!

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The non-state pension fund Gazfond, which manages pension reserves, was in the second line from the bottom in the ranking in terms of the profitability of pension reserves over the five years - from 2013 to 2017. Such data are provided in the Pension & Actuarial Consulting review (available from Forbes). The fund's profitability for the specified period was only 13.62%, lower only for the NPF "Professional" with reserves of 3.3 billion rubles - it earned only 3%. This indicator is significantly less than the cumulative inflation - 44.6%. Even if the clients of the fund put their funds on a deposit, they would have significantly gained in profitability, having received 41.8%. At the end of 2017, the number of clients of NPF Gazfond exceeded 230,000 people.

If you look at the indicators of profitability over the years, it is consistently low and does not correlate in any way with crises in the stock market. In 2013, the profitability of Gazfond's investments was 2.8%, in 2014 - 1.7%, in 2015 - 3%, in 2016 - 2.2%, in 2017 - 3.3% ...

NPF Gazfond is the largest fund for managing pension reserves - funds intended for the formation of an additional pension. In most cases, agreements on such pensions, like voluntary health insurance policies, are concluded within the framework of employers' social packages, says Evgeniy Biesbardis, a leading analyst at Pension and Actuarial Consulting. Moreover, the company often co-finances the contributions of its employees, for example, it doubles every ruble paid by the employee from its own funds. Companies organizing corporate retirement plans can pledge the fund's obligation to guarantee a minimum annual return. In this case, if the fund received less than necessary income, it pays the difference at its own expense.

The volume of corporate pensions in NPF Gazfond is 374 billion rubles, the largest client of this fund is Gazprom. Every year Gazprom deducts tens of billions of rubles for its employees: in 2017, its pension contributions amounted to 19.4 billion rubles, or 88.7% of the total amount of contributions received by Gazfond, in 2016 - 17.7 billion rubles, or over 90% of the total amount of contributions. Almost half of these funds come from insurance contracts.

Gazprombank's corporate pensions are formed in NPF Gazprombank-Fund, the accumulated profitability of which is much better than that of Gazfond - 47%.

The management of the NPF Gazfond reserves is managed by the Leader MC headed by Anatoly Gavrilenko, which is 44% owned by Gazfond itself, 25% by Gazprom and 27% by VEB, as well as a subsidiary of Leader MC, MC Severyanka ".

The press service of the Gazfond NPF and the Leader Management Company did not respond to the Forbes request.

Pension & Actuarial Consulting data

Scheme number one

On the website of the Gazfond pension fund, the yield since 2005 is indicated by far from not all pension schemes - only from the second to the fifth. At the same time, the first, sixth and seventh schemes are also mentioned in the fund's reporting. The yield figures for the published schemes look good - the numbers are often double-digit. However, according to Forbes' interlocutor, close to the Gazfond NPF, it is the first pension scheme that accounts for most of the reserves and it is for it that weak indicators are traditionally demonstrated. According to him, "Gazprom" does not use co-financing in this scheme in its pure form, when deductions from the employee's salary and from the company's funds are made jointly, but deducts funds for its employees independently.

Pension scheme number 1 is a solidarity scheme with fixed amounts of lifetime payments, the fund says. The depositors are Gazprom and its daughters. Contracts under this scheme are insurance contracts, that is, the fund can pay a certain amount in the event of the death of a participant in the amount of ten non-state pensions, as well as in the event of a third and second degree disability. The depositor has the right to transfer the redemption amount to another fund with the written consent of all participants in respect of whom the pension agreement is valid.

The solidarity system means that the funds received by the fund are not distributed to personal accounts, but are stored in a "common pot", and employees, when retiring, use it until it is exhausted (that is, until obligations are fully fulfilled), says the CEO of the company " Pension partner "Sergey Okolesnov.

As an interlocutor of Forbes, close to the NPF Gazfond, explained, this is a truly massive scheme intended for all employees of Gazprom. “Only the employer makes deductions on it, the fixed rate of return on it is not fixed in the contract. However, the contract stipulates a specific amount of pension, which depends on the employee's salary - this amount he will receive upon reaching retirement age. In this regard, the employee only has risks that it will not be well indexed, ”the source said.

The first scheme involves several types of structured payments. One implies that the fund will have to earn at least a specific amount. In this case, the NPF must either earn this yield or send it out of its own funds. The second option assumes that the fund will index clients' pensions depending on the amount of income, which is not guaranteed in the contract.

“Scheme No. 1 was invented at the stage of the fund's formation and was created exclusively for Gazprom employees, and according to this scheme, pensions are quite high. Account movements, profitability under this scheme do not affect the amount of the paid pension. Whatever happens, employees will receive as much as they were promised at the time of the contract. But this scheme creates a risk of indexation, ”says a Forbes source.

According to the fund's reporting, most of the assets of NPF Gazfond are investments in Gazprom and GPB. According to a Forbes interlocutor close to the NPF, if these assets grew in zero, then in the new decade the trend has changed, so the fund decided not to take responsibility for the profitability of pensions and is only responsible for their safety.

The Gazfond group reports that changes in the fair value of Gazprom and Gazprombank have a significant impact on the group's financial results. Gazfond owns 1.06% of Gazprom's shares and 41.6% of Gazprombank's shares. “Gazprom shares have been showing weak dynamics for many years due to the fact that the company has very high capital and operating expenses and low dividends. Gazprom is very reluctant to share profits with minority shareholders. Investors and analysts note as negative factors for Gazprom shares the low transparency of the business and the complexity of control over the actions of management due to the lack of an independent board of directors, ”comments Alexander Losev, CEO of Sputnik Capital Management.

But the fair value of Gazprombank's stake in recent years on the Gazfond's balance sheet has only grown - from 2015 to 2017, the estimate increased from 155 billion to 177 billion rubles, according to IFRS statements. The number of shares remained unchanged - only the share of NPFs in Gazprombank changed due to the additional issue in July 2017. The fund's dividend income from owning shares in Gazprombank in 2017 amounted to 3 billion rubles, in 2016 and 2015 it was not, in 2014 - 3.3 billion rubles. From owning shares in Gazprom - 2 billion rubles in 2017, 2.5 billion rubles in 2016, 2.2 billion rubles in 2015 and almost 3 billion rubles in 2014.

The pressure on the asset quality indicator of APFs is exerted by the low level of liquidity of the fund's investments in units of closed-end mutual funds, which by the end of the year 2017 amounted to 20.4% of reserves, the Expert RA agency suggested in March. His analysts also noted that one of the negative factors in the assessment is the low profitability from the placement of pension reserves on the horizon of 2014-2017.

On the reserves of NPF Gazfond, shares of closed-end mutual funds and shares of technical companies (GAZKON, GAZ-Tek and Gas-Service), Forbes wrote with reference to the fund's investment portfolio at the end of 2015. According to Pavel Mitrofanov, the managing director of Expert RA, the point of these transactions was not to fully reflect investments in Gazprombank in the financial statements. Another 48 billion rubles of Gazfond's funds were invested in three closed-end real estate investment funds in 2015: Prospective Investments, New Horizons and Electron.

Among the major shareholders of NPF Gazfond are Gazprom (12%) and SOGAZ (19%).

Zone of vulnerability

Pension reserves were the first product that NPFs began to work with at the dawn of their existence in Russia - later they became participants in savings programs, says Evgeny Biezbardis. The peculiarity of pension reserves is that they are not guaranteed by the state, in contrast to pension savings. But on the other hand, the profitability for the year cannot be negative, he notes.

The main difference between reserves and savings is that reserves are actually funds of the clients themselves, and pension savings are public funds posted to personal accounts, says Yuri Nogin, director of the ACRA financial institutions ratings group. “Therefore, a softer version of the list of assets where they can be invested is provided for reserves. In Russia, the bulk of reserves are not funds of individuals, but money from corporations, usually with state participation, ”the financier notes. The funds have the right to independently place the funds of pension reserves in Russian government securities, bank deposits and other assets provided by the Central Bank.

The fact that the requirements for NPFs with reserves were traditionally softer, ultimately led to the fact that their portfolios turned out to be weaker than the portfolios of savings - there are many mutual funds and closed-end mutual funds. However, NPFs with reserves understood that stress testing was coming and tried to put their portfolios in order. “If funds suddenly have any problems with reserves, there will be a certain social resonance, since large funds are associated with large state-owned companies: NPF Blagosostoyanie - with Russian Railways, NPF Gazfond - with Gazprom, NPF Transneft - with "Transneft", - explains Nogin.

The Central Bank ordered pension funds with reserves until 2019 to disclose the shareholder structure, and from this year it began to conduct stress tests for them, which assess the quality of NPF investments. Since NPFs that deal with reserves have a large amount of capital, since they are close to large state-owned companies that have formed this capital, they are not afraid of these stress tests, concluded Nogin.

* The data for calculating the profitability was taken from the disclosed statements according to Russian standards (RAS), and the figures for the years reflect the profitability accrued to the clients' accounts. If the pension fund has several pension schemes, the average figure is taken.