The pension insurance market in Russia, despite its short period of existence, is very saturated. It is attended by large, global players, such as NPF Sberbank, and small organizations. One of the largest and most significant was the First National Pension Fund, the maximum number of clients of which reached 335 thousand people throughout the country.
The NPF discussed in this article was founded in 1992, being, in fact, the first commercial pension fund formed in the territory of the former Soviet Union.
In 2014, the organization changed its legal form, becoming a joint stock company. It is known that the following structures became the main holders of the fund’s securities during that period:
- Fund Management LLC, which has a controlling stake;
- Unilix LLC;
- OJSC Rosselkhozbank;
- Trade Union of Nuclear Industry Workers of Russia.
The profitability of the NPF for the entire period of its existence was quite high and this is directly related to the choice of investment assets. Thus, the maximum yield was at 22.3% in 2005. The minimum was 1.19% in 2011.
Reference! 2011 was marked by a crisis in the non-state pension system, and as a result, a decrease in profitability occurred for all non-state pension funds.
During its activity, the First National Fund was not distinguished by a sufficient degree of openness regarding the placement of funds of its clients. At least, publicly available sources did not contain this kind of information.
Data from rating agencies on the reliability of the First National Pension Fund is known. Thus, in 2013, NPF was included in the Expert RA list with rating “A+”, which meant a high assessment of stability.
The central office of the organization was located in Moscow. The network of representative offices and branches was not as wide as that of many other non-state pension funds of a similar scale, but covered most of the major cities of Russia.
Termination of activities of 1 non-state fund
In 2016, the license of the First National Pension Fund was revoked. According to sources in the Central Bank of the Russian Federation, This was due to numerous violations of a number of provisions of federal legislation. Immediately after the license was revoked, the bankruptcy and liquidation procedure of the organization began. At the beginning of 2019, all related competitive events were completed.
After the license was revoked, the pension fund’s rating dropped to “C++”, which indicated an extremely low degree of reliability. Then it fell to level “E”, and then was completely withdrawn. This happened in 2017.
The liquidation procedure of the NPF did not affect clients’ pension savings. In accordance with the law, in the event of cancellation of the license of an insurer that is a non-state pension fund, the Pension Fund of the Russian Federation becomes the new insurer and they also make payments.
Attention! The First National Pension Fund was a participant in the deposit insurance system, so most clients could count not only on the funds that were sent to their accounts by employers, but also on investment income from them.
On the Internet, the First National Pension Fund had its own website, on which information regarding the activities of the fund was published, and there was also a function of a personal account for users. During the period of competitive procedures, the site continued to work, but after the liquidation of the organization it became inaccessible. Now the domain name continues to exist, but following the old links leads to a site dedicated to construction and repair. The First National Pension Fund brand is also not currently used.
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NPF "National" is a non-state pension fund. The only type of activity that this organization is engaged in is the formation of pension savings and their insurance. The organization ensures the safety of investments and their increase, and also pays funds to clients in accordance with the concluded agreement.
About the National Fund
The year “National” was created and received a license was 1997. A year later, 520 former employees of the parent company Tatneft were paid non-state pensions. In the first three years of operation, the foundation became one of the largest organizations of its kind in the Russian Federation.
Since 2004, National has been engaged in compulsory pension insurance. By 2008, a network of Branches was created throughout Tatarstan; about 20 thousand people received non-state pensions. The 2008 crisis did not prevent the fund from bringing investment reserves to the previous level and receiving a return of 34% per annum, ranking second in this indicator.
In 2014, the organization was reorganized into a closed joint stock company. By the end of 2017, over 5 billion rubles were paid to pensioners.
NPF website
The official website of the non-state pension fund "National" www.nnpf.ru contains a lot of useful information. Here you can find:
- Official financial statements;
- Auditors' reports;
- List of programs with a detailed description of the conditions;
- Data on the structure and divisions of the fund;
- Information about shareholders;
- News of the organization.
A special section presents graphs and tables on the results of investing pension reserves and the distribution of the savings portfolio.
According to the official website of NPF National, pension savings are invested in:
- Stock;
- State securities;
- Bonds of state corporations and entities;
- Cash.
The resource also contains information about the sectoral distribution of investments, where the first place is occupied by the public sector, and the second by the oil and gas industry.
Here you can also learn about the structure of issuers in pension savings. The leader is also the state, followed by Rosneft and Rostelecom. The same indicators are presented for pension reserves.
Currently, approximately 50 thousand people receive a non-state pension from the fund. Interest income is accrued annually to a special account and capitalization is carried out. The format and timing of payment of such a pension can be chosen at your discretion.
Good to know! The client can terminate the contract with the NPF; it can be terminated at the client’s request at any time and receive the redemption amount.
Using the calculator on the website, you can determine the optimal pension program and calculate future payments. To do this you need to specify:
- Age;
- Year of application for a non-state pension;
- Decision on payment of additional and regular contributions;
- Period of payment and amount of contributions;
- Type of pension: lifelong or fixed-term.
The indicators are calculated taking into account the fund's profitability and other characteristics of its activities.
Advantages of cooperation with the fund
Cooperation with the First National Pension Fund in the field of compulsory insurance has a number of advantages:
- Funded pension contributions are invested;
- Thanks to the income from such investments, savings are formed;
- The funds received are paid in the form of a pension to the insured person;
- The state acts as an insurer of savings.
As for personal plans, they help accumulate funds for use after reaching retirement age. In fact, this means receiving a non-state pension. The system operates on the principle of voluntary contributions.
Helpful information! The amount of non-state pension payments does not depend on salary, length of service, or state pension payments.
It is formed by paying contributions, as well as from income from their investment investments.
Fund reliability – rating
RA “Expert” assesses the reliability of NPF “National” as exceptionally high. This is evidenced by the maximum rating of “A++” with a stable outlook. The fund has demonstrated this level since 2012, regularly confirming it. This NPF does not participate in assessing reliability according to the criteria of the National Rating Agency.
In 2009, the fund demonstrated a profitability rate of 32.99%, and in the crisis year of 2008 it turned out to be zero. Against the background of high volatility of the securities market in 2011, the yield did not exceed 0.59%.
Profitability indicators
This year, the Central Bank recorded the profitability of NPF "National" in the field of compulsory pension insurance - 12.56%, in terms of non-state pension provision - 12.24%.
At the moment, the assets of NPF “National” amount to 35 billion rubles, the accumulation of pension funds reached 16.9 billion rubles, and reserves – 14.6 billion rubles. More than 400 thousand people form a funded or non-state pension in the fund.
Contact Information
Today, offices and representative offices of the National Pension Fund operate throughout Russia; every citizen has the opportunity to contact the nearest branch. Office addresses and telephone numbers can be found on the website. There is a hotline at 8-800-555-999-1, which you can contact with any questions you may have.
Access to your personal account
There is a personal pension account for clients of JSC NPF National at lpc.nnpf.ru/auth. To register and subsequently log in, you must specify 9 SNILS digits without a checksum. Using the account is possible after completing the registration procedure and providing consent to the processing of personal information.
During registration, you must enter your full name, date of birth, SNILS number with a control digit and contract number. After this, the user is provided with a password.
Important! Do not share your personal account password with unauthorized persons, as this may lead to unauthorized access to your personal data.
The first NPF to provide non-state pension support to the population in Russia was the National First Pension Fund, also known as the NPF, back in 1992. "1st NPF". Over many years of work, it has become one of the largest funds in Russia in terms of the number of participants receiving pensions and other indicators. In 2014, as required by law, it became a joint-stock company.
NPF operates under license No. 317/2 dated April 09, 2009, issued by the Federal Financial Markets Service for an indefinite period, allowing pension activities.
Management of the First Non-State Pension Fund and its assets
Having become a joint-stock company, the fund as of April 21, 2014 had as its main shareholder LLC “Fond Management”, with a share of 66.316% of shares. Other shareholders: UNILIX LLC, Russian Agricultural Bank OJSC, Trade Union of Nuclear Industry Workers of Russia, Machine-Building Plant OJSC.
The assets of the NPF were transferred to trust management of the following companies: Pallada Asset Management CJSC, SOLID Management CJSC, GAZPROMBANK - Asset Management CJSC, Management Company CAPITAL LLC, PartnerPortfolioInvest LLC.
Place of the First Non-State Pension Fund in the industry
By volume of attracted pension assets as of December 31, 2014. The "First National PF" was 21st among Russian non-state PF.
Thus, the fund’s pension savings at the end of 2014 were estimated at 12.8 billion rubles, the amount of reserves reached 3.13 billion rubles, and the property owned by the fund amounted to 16.6 billion rubles.
Almost 317 thousand people participated in programs for non-state pension support, almost 302 thousand people were insured under the state program, and 31.5 thousand people received a non-state pension in the “1st Non-State Pension Fund”.
Investment strategy of the fund "First Non-State Pension Fund"
The fund invests funds only through reliable, experienced partners, using a variety of financial instruments.
At the beginning of 2015, pension savings were invested in:
- bonds of business companies in the amount of 52.82%
- in mortgage participation certificates – 29.46%
- to deposits – 8.57%
- in shares – 5.74%
- the rest - in securities and other assets.
Investment structure for pension reserves: 47.56% in bonds, 9.63% in stocks, 7.96% in real estate, 4.72% in deposits. The rest are in shares of mutual funds and other assets.
Profitability data for 2014 presented by the Central Bank of the Russian Federation: for OPS + 3.69%, for NPO +7.06%.
NPF License 317/2 Canceled 06/23/2016
NPF "First National Pension Fund", founded* in 1992, became a pioneer in the non-state pension market in Russia. The basic operating principles, standards and operating technologies adopted in the pension services market today began their journey here - in the 1st Non-State Pension Fund. Over the course of many years of successful activity, the 1st Non-State Pension Fund has not only constantly developed, but also systematically increased its performance indicators, thereby strengthening its position in the market. In terms of the volume of pensions paid and the total number of pensioner participants, the 1st NPF is among the ten largest non-state pension funds in Russia.
And in terms of the growth rate of pension reserves, the 1st Non-State Pension Fund is the leader among funds operating on the open market - in the period from 2001 to 2007 alone, the figures increased 15 times. One of the main priorities in the work of the NPF "First National Pension Fund" is to constantly improve the level of social services for its clients. Through activities that promote the formation of civilized relations in the pension services market, the 1st NPF strives to fulfill its mission - to provide a new quality of life for retired citizens It was as a result of the work of the 1st NPF in our country that it became possible, along with the state pension, to receive an additional (non-state**) pension, which significantly increases the standard of living of the older generation of Russian citizens. And thanks to the pension reform, the 1st NPF has been included in the compulsory pension system since 2004 insurance, having received the right to form the funded part of the labor pension of citizens of the Russian Federation. Such unity of efforts of the state, citizens and private financial institutions is a consequence of the beginning of the development of a socially oriented economy in our country. The main task of the NPF "First National Pension Fund" is to continuously work to improve the efficiency of its activities by strengthening its position in the market and providing the widest and highest quality range of services for its clients. A well-functioning system for organizing pension payments and many years of experience working with pensioners gives the 1st Non-State Pension Fund the right to guarantee its investors a high level of service and reliability of saving their pension savings. * until 1997, the activity was carried out in the form of a closed joint-stock company with the same name, which, after reorganization, transferred all obligations for additional pension provision to the NPF "First National Pension Fund". ** additional pension provision Limited Liability Company "Unilix" Open Joint Stock Company "Russian Agricultural Bank" Social Security Institution "AG2R-Prevoyance" (France) Open Joint Stock Company "Machine Building Plant" Open Joint Stock Company "TVEL" Federal State Enterprise "Scientific Test Center of the Rocket and Space Industry (FKP NIC RKP) State Enterprise "Moscow Polymetal Plant" Primary public trade union organization No. 29 JSC "NZHK" State Space Research and Production Center named after. M.V. Khrunicheva Public organization Russian Trade Union of Nuclear Energy and Industry Workers (RP RAEP) Closed Joint Stock Company "Moscow Joint Stock Insurance Company" (CJSC "MAKS") Open Joint Stock Company "Onega Tractor Plant" Limited Liability Company "Management Company" "Finam Management" Open Joint Stock Company "People's Company" Closed Joint Stock Company "Interkamen" Open Joint Stock Company "Shipbuilding Plant "Avangard" Open Joint Stock Company "Karelagroservis" Closed Joint Stock Company "Large Panel House Construction" Closed Joint Stock Company "Petrozavodsk Paper Machine Building Plant" » Closed Joint Stock Company "Registration Depository Center" Republican Committee of the Trade Union of Communication Workers Federal State Unitary Enterprise All-Russian State Television and Radio Broadcasting Company Closed Joint Stock Company "SpetsSMU (Specialized Construction and Installation Management)" Medical Joint Stock Insurance Company "Petromed"