Transferring the funded part of your labor pension to Sberbank Non-State Pension Fund is an opportunity to increase your future pension without additional investments. When paying wages monthly, the employer, in accordance with the procedure established by law, pays to the Pension Fund of the Russian Federation (PFR) an insurance contribution in the amount of 22% of the wages: 16% of this amount is transferred to the insurance part of the pension, 6% to the funded part, which is saved for individual personal account of a citizen in Sberbank.

Distribution of employer's insurance contributions (22% of wages)

1. The insurance part of the labor pension is monthly payments that are assigned upon reaching a certain age to all citizens who have the required work experience. The insurance part of the pension is what the state guarantees.

2. The funded part, the size of which depends on earnings within the limits established by law (568 thousand rubles in 2012) and investment income. The funded part is calculated based on the amount of pension savings at the start of payments.

You can receive pension savings no earlier than retirement age in a lump sum (if the savings are small), or in the form of a pension for life, or for a certain period, but not less than 10 years. Pension savings are inherited by contract or by law. Legal successors must apply for payment of pension savings no later than 6 months from the date of death of the insured person.

By default, citizens’ pension savings are located in the Pension Fund of the Russian Federation (PFR), and Vnesheconombank manages these funds. His key task is to preserve the funds entrusted to him. You have the right to manage your funded part of your pension! The accumulated profitability of Sberbank NPF for 4 years (2009 - 2012) amounted to 52.03%. For comparison: the inflation rate for the same period was 33.88% - the results of profitability for past periods do not guarantee the profitability of future periods. The state does not guarantee the profitability of placing pension reserves and investing pension savings. Carefully read the Fund's Charter, its pension and insurance rules before concluding a pension agreement and transferring pension savings to the Fund.

Statement of the individual personal account:

Since 2013, the Pension Fund of the Russian Federation (PFR) has stopped sending information to citizens of the Russian Federation in the form of annual letters about the status of an individual personal account (IPA). A convenient and modern replacement for letters from the Pension Fund of Russia can be obtaining an extract on the status of the personal information system from banking institutions with which the Pension Fund of Russia has entered into a corresponding agreement.

An extract on the status of your pension savings can now be obtained by first registering in the information exchange system with the Pension Fund:

-in any branch of Sberbank of Russia PJSC -in the Sberbank Online system -in Sberbank terminals and ATMs

Service cost

-Through self-service devices and bank ATMs - free of charge -Through structural divisions of Sberbank of Russia PJSC: upon first request within a calendar year - free of charge; for the second and subsequent requests within a calendar year - 100 rubles.

Individual pension plans

Provide yourself with a “second” non-state pension using your own accumulated funds. Individual pension plans based on non-state pension agreements are programs for those who want to receive a non-state pension in addition to the state one. This is an additional guarantee of maintaining the quality of your life and the life of your loved ones after the end of your working period. An individual pension plan allows you to independently determine the size of your future pension.

Sberbank NPF offers individual pension plans (IPP): to those whose earnings exceed the maximum amount (568 thousand rubles/year), from which the employer pays insurance premiums; -specialists conducting private practice without obtaining a work book (designers, architects, IT specialists, etc.); -representatives of small businesses whose contributions to the Mandatory Pension Insurance system are insufficient to create minimal social guarantees or are absent altogether; -those who want and have the opportunity to provide a comfortable future for their family and friends; - everyone who cannot count on a state pension for various reasons.

How to create an IPP for yourself and your loved ones

1. Contact a branch of Sberbank of Russia or NPF Sberbank. 2. Provide the employee with a passport if you are creating an IPP for yourself, or an identity document (passport, birth certificate) of another person if you are creating an IPP for other persons. 3. Determine the terms of the individual pension plan: the size, frequency and timing of payment of pension contributions or the size, frequency and timing of payment of a non-state pension, the procedure for succession (inheritance), other conditions in accordance with the Pension Rules of the Sberbank Non-State Pension Fund and current legislation.
4. Conclude a Non-State Pension Agreement (NPO) with Sberbank NPF in your favor and/or in favor of a third party (your family and friends).

Benefits of the program

-The basis of the IPP is a non-state pension provision (NPO) agreement with Sberbank NPF; -During the entire period of validity of the agreement, the NPO NPF of Sberbank will annually inform the client about the results of its activities, including investment ones; -Receipt of a non-state pension can begin upon the onset of any pension grounds or later; -The NGO agreement can be concluded at branches of Sberbank of Russia, regardless of place of residence and work. -Accumulated profitability of NPOs for 2000-2011. amounted to 319%, which is 23% higher than accumulated inflation over the same period of time (296%); -With IPP you can take advantage of the social tax deduction; -Savings can be bequeathed to heirs; -Non-state pension is not subject to personal income tax; -The deadlines for payment and the amount of contributions are determined by the client himself; also, he can determine the size of the non-state pension, and the amount of contributions will be calculated by the Sberbank Non-State Pension Fund. -You can consult on the IPP, conclude an NPO agreement, submit an application to change information about yourself or your details at the nearest branch of Sberbank of Russia PJSC; -You can pay contributions through your employer, either in person without commissions at any branch of Sberbank of Russia PJSC, or by issuing a standing order to transfer contributions from your account opened with Sberbank of Russia PJSC; -You can receive a non-state pension without commissions at any branch of Sberbank of Russia OJSC; -To obtain information about your account status, you can use the free “Client Personal Account” service on the Sberbank NPF website www.npfsb.ru. *Historical returns do not guarantee future returns. The state does not guarantee the profitability of placing pension reserves and investing pension savings. Carefully read the Fund's Charter, its pension and insurance rules before concluding a pension agreement and transferring pension savings to the Fund. -The client pays contributions, Sberbank NPF places them in various securities and receives investment income. -Client contributions and at least 85% of the income received by Sberbank NPF are reflected in the client account. -Upon reaching retirement age, the client (or the person specified in the NPO Agreement) receives a non-state pension, the amount of which is calculated based on the amount of pension contributions and income earned by the Sberbank Non-State Pension Fund, or is established in the NPO Agreement. -During the payment period, the client’s pension is indexed at the expense of income received from Sberbank NPF.

About Sberbank NPF

Sberbank NPF is among the TOP 10 largest non-state funds in Russia and has been operating in the pension market since 1995. The total contribution of the founders is 620 million rubles, pension assets are about 50 billion rubles, clients of Sberbank NPF are more than 1.5 million people . Founder, Sberbank of Russia PJSC is one of the most reliable and largest Banks in Russia.

Greetings. I continue to publish articles on the topic of investment instruments.

Today I wanted to touch on an interesting investment instrument called an individual pension plan (IPP). It should be used in the general concept, along with IIS, mutual funds, cumulative life insurance ETF, etc.

If you have not even heard of non-state pension provision, then the materials in this article will help you understand the essence of this instrument, as well as effectively apply it in practice.

What is PPI?

An individual pension plan (IPP) is a type of non-state pension provision. It allows the formation of pension savings on a voluntary basis, in addition to compulsory pension insurance. To make it easier to understand how the pension system works, I made a small diagram.

Compulsory pension insurance (OPI).

The pension under compulsory pension insurance consists of two components: the insurance and funded parts of the pension.

The insurance part of the pension is formed from government funding, as well as employer insurance contributions.

An important point: if a person has not accumulated points for an insurance pension, he will be paid a social pension. Its size is significantly less than the size of the insurance pension, which is already small.

Yes, now, after reforming the pension system of the Russian Federation, in order to receive an insurance pension, you need to accumulate a certain number of pension points, because this is insurance, not charity. Read more about pension points on the Pension Fund website.

I believe that it is precisely because of the low size of both the insurance and, especially, the social pension that dissatisfaction arises among a certain part of the population, especially in social services. networks, or simply on the Internet. You can see various comments, to the point that you can slowly look for a place in the cemetery. So, this situation, as I already talked about it in the VK group, comes from a lack of financial literacy, that is, people simply do not know about the existence of alternative ways of forming pension savings, or forming an investment portfolio outside the pension system of the Russian Federation.

People are essentially not to blame (especially pensioners); they have become victims of a combination of circumstances during the painful transition from a planned economy to a market economy.

As for pensioners who retired at the beginning of the 2000s, they did not have enough time to form any significant capital, because until 2004 we were not talking about such prosaic things as the formation of an individual pension, the accumulation of capital was not within the pension system. It was about establishing minimal stability in the country.

Now about the funded part of the pension. It is formed from employer contributions, voluntary contributions under the co-financing program and, of course, investment income. It can be managed either by the Russian Pension Fund (PFR) or by non-state pension funds (NPF). The difference is that the Pension Fund is a state body, and with its help the government can finance its federal budget by freezing the funded part of the pension, which has already been done. In addition, the investment strategies of the Pension Fund 2 are too conservative (one is ultra-conservative, and the other is moderately conservative). This inappropriate conservatism is often expressed in the limited availability of investment assets and investment instruments. The investment portfolio is made up primarily of debt investment assets (bonds, mainly state and municipal), as for equity assets, if they are present, then shares of state-owned companies predominate. participation (which are not as effective as we would like).

Therefore, in order to obtain increased profitability (depending on the asset distribution strategy of the NPF you have chosen), as well as to avoid any restrictions from the state, it is necessary to transfer the funded part of the pension to the NPF. Moreover, funds invested in a non-state pension fund are also insured by the deposit insurance agency (DIA), and the amount of contributions and the received investment income are insured. So, for those who are worried about the security of their pension savings in NPFs, you can relax a little - your funds are insured (only within the framework of mandatory pension insurance).

The formation of the funded part of the pension, as I said, in addition to employer contributions, can also occur through co-financing of the pension. The maximum amount of contributions under the co-financing program is 12,000 rubles per year. The essence of this program is simple: the state doubles your contributions to the funded part of your pension. The minimum amount for doubling contributions is 2000 rubles.

In addition, you have the opportunity to receive a tax deduction of 13% on the amount of contributions.

That’s all for now regarding compulsory pension insurance, we are moving on to non-state pension provision as part of the pension system of the Russian Federation.

Non-state pension provision (NPO).

A non-state pension is formed either by the future pensioner independently, or by the company for its employees on a voluntary basis. That is, at the moment there is an opportunity to increase your pension (among other ways) by forming a non-state pension in parallel with the state one.

In order to join an NGO, it is necessary to conclude an agreement with a non-state pension fund on maintaining an individual pension plan. After completing all the necessary documents, you can replenish your open individual pension account. The funds you invest will be managed by the management company strictly in accordance with the fund's strategy.

In the case of a corporate pension plan, the initiator of concluding an agreement with a non-state pension fund is the employer.

Regarding insurance of an individual pension account. As you already understand, the same Deposit Insurance Agency (DIA) is responsible for insurance. Only in contrast to a pension under compulsory pension insurance, which is fully insured (the sum of employer contributions, contributions under the program for co-financing the funded part of the pension and investment income of the funded part of the pension), an individual pension account is insured only for the amount of all contributions to this account. Investment income is not insured! It is very important.

In order to understand the essence of the matter as quickly as possible, I, as always, will schematically depict the operation of this tool.

Does this remind you of anything? If you have carefully studied the materials on my website, then you have already seen that the work of NPFs is very similar to the work of mutual funds. And this is not surprising, because in order to manage assets, the NPF enters into an agreement on trust management of assets with the management company it has chosen. The depository keeps records of securities, the registration of transactions is carried out by the registrar of the same legal entity. person, but with different licenses to carry out the relevant activities. And the auditor closely monitors the activities of the management company. The activities of the NPF itself are monitored by the NPF inspectorate, and all calculations relating to pension insurance are carried out by an actuary.

Of course, there are differences. The most important difference is that an investor who has invested in a non-state pension fund is not the owner of the assets that are acquired by the management company in accordance with the fund’s strategy. If we are talking about a state pension, then the owner of the assets is the Pension Fund; if we are talking about a non-state pension, then the owner of the assets is the NPF. The depository and registrar, unlike mutual funds, keep records of the fund’s assets, and not the client’s assets. That is, in the event of the bankruptcy of unscrupulous non-state pension funds, your investments are protected differently than in the case of the bankruptcy of a mutual fund.

Legislative regulation of IPP

For your convenience, I have listed below the laws that regulate the activities of pension funds.

Advantages and disadvantages of PPI

For an investor, an individual investment plan is a tool for achieving certain investment goals; accordingly, it is necessary to know the advantages and disadvantages of this tool in order to use it wisely.

Advantages of PPI:

• Low initial contributions to an IRA
• Wide diversification
• Low financial literacy requirements
• No need to independently manage your investment portfolio
• Favorable tax system
• Tax benefits
• Convenience of payments
• Possibility of inheriting pension savings

Disadvantages of PPI:

• Unable to manage assets
• Asset protection is not exclusive
• Low liquidity
• High commissions
• Non-index approach to investing
• Incomplete transparency of NPF work

Now I’ll explain a little about some of the advantages and disadvantages of IPP to fully understand the essence of the issue.

Benefits of PPI

Low initial contributions to an IRA

Indeed, in order to “activate” your individual pension plan, you need to top up your pension account with a small amount of 400 rubles. I think everyone can find that kind of money. Moreover, the size of contributions and their frequency are arbitrary. You choose how much and how often you will replenish your pension account.

Wide diversification

With a small investment in a pension fund, you get a diversified investment portfolio. If you were to compile the same investment portfolio yourself through a broker, you would need significant funds.

Low financial literacy requirements

In order to invest in an individual pension plan, you do not need to have special knowledge in the investment field. Of course, you can be financially illiterate and invest all the money you save into your individual retirement account.

But in order to at least somewhat assess the composition of a pension fund’s investment portfolio, it is better to have some knowledge of what investment assets exist, as well as the risk/return ratio for each of them.

No need to manage your securities portfolio yourself

The management of the investment portfolio, in accordance with the strategy of the individual pension plan you have chosen, is carried out by a management company with which the NPF or Pension Fund enters into a trust management agreement. For this work, the management company charges an annual commission.

Favorable tax system

When investing through pension funds, taxation arises only in the event of early termination of the contract and withdrawal of funds from the fund. In this case, the tax agent is the non-state pension fund. In case of transfer of accumulated funds to another NPF or Pension Fund (within the framework of OPS), there is no need to pay income tax.

In all other cases, the insured persons are not subject to taxation. This applies to both capital gains in an individual retirement account and pension benefits. Moreover, the most interesting thing is that “tax holidays” apply within the framework of both OPS and NGOs.

Tax benefits

The Government of the Russian Federation encourages citizens to form a non-state pension by maintaining an individual pension with a tax benefit. As in the case of an individual investment account, the benefit is expressed in receiving a tax deduction (13% of contributions to the IRA, but with a maximum of 120 thousand rubles).

Convenience of payments

Compared to other investment instruments (unit fund, ETF), the IPP will provide the pensioner with periodic payments (monthly, quarterly, yearly) without the need to make any manipulations with his individual pension account.

Possibility of inheriting savings

An important positive feature of IPP that cannot be ignored. A truly non-state pension is subject to inheritance in the event of the death of the pension recipient. This is also an advantage because in this case you will not have to pay income tax.

Disadvantages of PPI

Unable to manage investments

Asset protection is not exclusive

One would not have to worry too much about the non-state pension, and even turn a blind eye to the fact that the funds on the IRA are similar in their characteristics to the funds in the bank (in terms of security), if the insurance covered the amount of all contributions to the IRA and investment income .

But IPAs are insured only for the amount of all contributions.

That is, all investment income, with the help of which you can significantly increase your pension, may disappear if the NPF goes bankrupt, just like your comfortable existence in old age. You will receive only the amount of contributions, which under the long-term influence of inflation will significantly depreciate.

Low liquidity

You can withdraw funds from your individual pension account only by terminating the contract; the funds are paid within 6 months from the date of termination of the contract. It all depends on the amount in your IRA.

Terms of redemption payments for IPP:

Up to 200 thousand rubles – within 30 days

From 200 to 400 thousand rubles – within 90 days

From 400 thousand rubles – within 120 days

Moreover, when withdrawing funds from the account, you are required to pay income tax and the so-called “discount”, the amount of which is determined in the pension rules of the NPF. The discount when switching to another fund or simply withdrawing funds depends on the term of the pension agreement:

Up to 24 months - 20% of the amount deposited into the IPS

From 2 to 5 years – the sum of all contributions to the IRA and 50% of investment income

From 5 years – the sum of all contributions to the IRA and 80% of investment income

The funds received by the NPF from the termination of the pension agreement are transferred to insurance reserves.

In short, before terminating an agreement with a non-state pension fund, it is better to calculate the long-term consequences of such a step several times.

High management fees

When choosing a pension fund, many people miss such an important point as the associated costs. This factor has a significant impact on the final investment result. I have already mentioned the impact of commission costs in my materials, more than once, but I will not stop doing this, because if you don’t remind about such “little things” as the costs for providing a certain set of services (in this case, this is payment for the services of the management company and a special depository ), no matter what kind of financial intermediary we are talking about, then you can lose sight of this profitability-absorbing force. So, if we speak on average for pension funds, then expenses consist of two parts: these are classic expenses from the value of the fund’s net assets, and% of the investment income of pension savings for the reporting year (by analogy with hedge funds). There is also a standard premium on contributions, similar to mutual funds.

The maximum amount of remuneration is limited by law and is:

• For management companies 1.1% of NAV per year + 10% of investment income of pension savings + 3% of contributions to an individual pension account
• For a specialized depository 0.1% of NAV per year

On average, annual expenses for IPP are 2.5 - 3% of the NAV, excluding “surcharges” on contributions and “discounts” for withdrawals.

Non-index approach to investing

This drawback is quite significant. I have already repeatedly indicated on the site that I am a supporter of the index approach to investing and believe that for the vast majority of people this approach will be most effective. There is currently no mention in the charters, pension and insurance rules of any non-state pension fund that funds should be invested, say, in low-cost stock index funds (we still do not have bond index funds in our country). I described the consequences of active management in my article on investment strategies. In a few words, they are expressed in the lag behind key stock indices.

Incomplete transparency of work

By incomplete transparency of non-state pension funds, I mean, first of all, the difficulty of accessing information about the structure of assets. This information is vital in order to make a choice of a non-state pension fund among many possible options, because all funds have a different asset allocation strategy, and if you are already including a similar investment instrument in an investor’s portfolio, then it is worth knowing where your money is invested.

Top 10 NPFs for investors in 2017

I made a small summary table for non-state pension funds, taking the largest funds, since their stability is higher than that of smaller funds.

How to choose a non-state pension fund to open an IP in it?

In my opinion, there are only a few filters, by applying which you can choose any type of intermediary in the financial market. That is why the criteria for selecting a non-state pension fund will not be much different from the criteria for selecting a broker and mutual fund, for example.

So, in order to choose the right NPF, you need to pay attention to:

• The amount of NPF costs
• Asset allocation strategy
• NPF profitability

The amount of costs.
The most important criterion for selecting NPFs. Here, as well as when choosing a mutual fund, it is necessary to choose a fund with the lowest costs, I will not mention the reason, since you probably read my previous publications and already know what impact commissions have on the final investment result.

Moreover, in the fund’s operating rules, pay attention to all types of commission costs: commission of the non-state pension fund, management company, specialized depository, as well as the maximum amount of other expenses. Choosing a fund with minimal costs will be quite simple, and the difference in costs between funds is not as serious as, for example, with mutual funds.

Asset Allocation Strategy.
It is also an important criterion, because the risk/return ratio of your pension portfolio depends on it. It is clear that, in general, pension funds follow a conservative asset allocation strategy. A significant share of funds is invested in debt instruments, sometimes even all pension savings. But there are still funds with a more reasonable investment strategy, I mean allocating at least 10-15% of pension savings for equity investment assets. That is, after all, NPFs differ from each other in the rationality of their investment strategy.

Amount of assets managed by NPFs
I put this criterion in penultimate place, and you can probably guess why. I did this because ultimately the 2 previous criteria are of decisive importance. The size of NPFs, of course, is important simply because NPFs with insignificant pension reserves are not as stable as NPFs with large pension reserves. NPFs with large pension reserves have lower risks of bankruptcy. But even large non-state pension funds can go bankrupt, so there is no need to have any illusions about the complete protection of your pension savings. In short, in practice, look at the size of pension reserves last, only after selecting according to the two previous criteria. Choose a fund with the following attitude: “The larger the pension savings and reserves, the better.”

NPF profitability

And finally, profitability. How can one not mention this characteristic of NPFs? The profitability of NPFs directly depends on the asset allocation strategy. The greater the share of pension savings invested in equity assets, the greater the return such a fund can provide to the investor.
As for the profitability of non-state pension funds, the rule, as you understand, is simple - the higher it is, the better (within reasonable limits, of course).

Why do so few people use PPIs?

This is a good question, isn't it? I already voiced my position on this issue in my vk group – Private Investor School, if you are not subscribed, I will voice it again.

I believe that the low interest in such an investment instrument as the IPP in Russia (it is really low: less than 10% of the population is participating in non-state pension provision), and indeed any other investment instrument, stems from the most banal problem - the low financial literacy of people in our country.

The scale of this problem is mind-boggling. A change in the economic system (the transition from a planned economy to a market economy) occurred, but there was no change in the economic thinking of the population. This is a problem because strong economic growth, which is inextricably linked to the well-being of citizens, requires significant private investment. It does not matter which financial intermediary accumulates the funds. Be it NPFs, mutual funds, insurance companies. It is important that people start planning their financial future at least a few years in advance (although this is not enough).

Nowadays, most of the population lives one day at a time, and there is no talk of any planning (savings) at all. This trend urgently needs to be changed. The simplest solution to this problem for the future generation, in my purely personal opinion, would be to introduce a subject into the school education curriculum called financial literacy. In addition to school education, it is desirable that parents help improve the financial literacy of their children in the process of raising them. But as I already said, not all parents are financially literate at the moment, so they are unlikely to be able to give a good impetus to the development of the right attitude towards finance in their children.

Of course, some may object to me and accuse the Russian government (and, indeed, me, in collusion with the government 🙂) for the fact that it cannot provide the country’s population with a decent life in retirement. But I’ll tell you what, you don’t need to shift responsibility for your financial well-being to the state, it is exclusively in your hands. The moment of philosophy has come to an end, let's move on.

How to use PPI in the context of your personal investment strategy?

So, here we come to the final part of the article. The most important thing in discussing any investment instrument is, of course, the question of applying it in a real life situation. In theory, everything is always clear, but when it comes to practice, a lot of nuances arise that you don’t even suspect.

And now I will try to cover the topic of practical application of PPI.

Traditionally, when considering any investment vehicle in an investor's actual investment portfolio, I start with the basics, namely the investor's attitude to risk and investment philosophy. For active investors, of course, investments in non-state pension funds are unlikely to appeal, for various reasons. But the most important of them is, of course, the lack of ability to manage investments. Therefore, in the investment portfolio of active investors, you are unlikely to see such an instrument as an IPP.

People whose financial literacy is low, and there is no talk of any investment philosophy. Such people rely entirely on an investment advisor, broker, bank, trustee, etc. And that's not a bad thing. Not everyone has to be a “financial devil” (as I was labeled in the comments of one news site). But all the same, it is necessary to at least slightly improve your financial literacy in order not to be deceived by all these “financial tycoons.”

By increasing financial literacy, you will be able to, in general terms, understand the work of the financial market, you will approximately know the profitability of investment assets, and thereby be able to check the investment intermediary for the effectiveness of its work in your interests. In general, giving specific advice on a particular investment instrument to financially illiterate people is harmful. Therefore, here is a link to a small one, study and then return to this article in order to find out more specifically what to do with IPP in the context of your personal investment strategy.

For those who have already studied my training course, or those who are already “savvy” on investment issues, and have also formed a certain investment philosophy, the following narrative is intended.

So, in order to determine whether it is worth including IP in your investment portfolio, you need to carefully compare the investment opportunities provided by other investment instruments.

And to compare these possibilities, in my opinion, you need to use the following criteria:

• Safety
• Benefits
• Convenience

Safety

By this term I mean the protection of investor assets. In the case of non-state pension provision, security is average. If we compare, say, with a mutual fund or a brokerage account, then the protection of the investor’s assets will be higher for the latter, due to the structural features of the structure of these investment intermediaries.

When you acquire assets (stocks, bonds, real estate, etc. with the help of mutual funds or yourself through a broker, you become their owner in the literal sense of the word). Corresponding entries are made in a specialized depository stating that it is you, and not someone else, who is the owner of certain securities. And in the event of bankruptcy of a mutual fund or broker, your assets remain safe and sound, you simply give an order to transfer records of the assets at your disposal to another depository and enter into a brokerage service agreement with another broker or mutual fund. In the case of a non-state pension fund, there is no division of assets between the client and the non-state pension fund and one can only hope for insurance compensation.

The individual pension account is insured for the amount of contributions (within the NGO). Investment income is not insured, so asset protection is incomplete.

If you compare investing in an individual investment program with a bank deposit, then the advantage is on the side of the individual investment product. This happens because insurance for individuals. persons according to the bank deposit agreement, it amounts to 1.4 million rubles in 1 bank (I hope you haven’t thought about opening a deposit in a hundred different banks, since cases of off-balance sheet deposits have become more frequent). And the real return on bank deposits (taking into account inflation) fluctuates around zero, in contrast to non-state pension funds, which, despite the excessive conservatism of the investment strategy, show low but real return in the long term). For this and other reasons that I described in my article, a bank deposit cannot be a complete and safe alternative to the above investment instruments.

Price

This is the second most important factor that ultimately determines whether a particular instrument will be included in your investment portfolio or not. As you may have noticed, there is one feature of the commission costs of the management company for managing the savings of NPFs and Pension Funds. They are very similar to the commissions that Hedge Funds charge their clients, namely, the annual expenses from the NAV are quite low, but there is a commission for the positive investment result obtained during the reporting year. As a result, the commission costs of management companies for managing pension savings are even slightly higher than in the case of managing mutual fund assets.

Everything has its price, in particular the tax deduction for contributions to the IPP, coupled with a favorable tax regime, which is actually charitable, is offset by increased commission costs.

If we take into account all the above-mentioned nuances, then in fact the cost of the IPP is ultimately approximately equal to the cost of the mutual fund.

Benefits

As I just said, the most important benefit of using an IPP for a long-term investor is the preferential taxation system for this instrument + the opportunity to receive a tax deduction of 13% of the amount of contributions for the year. Taxes are a very important type of expense for any investor, which absolutely cannot be ignored.

In addition, investing with the help of non-state pension funds is a broad diversification of investments, which would be impossible when investing such insignificant amounts of money (from 2,000 rubles).

These benefits can be compelling reasons to include an IPP in a long-term investor's investment portfolio.

Convenience

And the last thing, of course, is the convenience of a non-state pension. How pleasant and convenient it is to receive a certain amount of money every month without performing any transactions of buying and selling assets yourself.

In general, you make the decision whether or not to include an individual pension plan in your investment portfolio yourself. I'm just stating that IPP has both advantages and disadvantages, like any other investment instrument, and it is quite suitable for a long-term investor for the above reasons. Determining whether this tool is needed or not can only be determined in a specific life situation; I cannot and will not make universal recommendations, as this is very harmful. Investments are a purely individual activity. It is better if you have a question, I will answer personally according to your situation.

If, after weighing all the pros and cons, you have come to the conclusion that this investment instrument is suitable for you, you can proceed to the final stage, namely, determining the share of the investment investment in the investment portfolio.

How to determine it? Very simple - in accordance with your asset allocation strategy.

After all, the most important thing for a private investor when compiling an investment portfolio is to make a choice between debt and equity investment assets. So, you determine the riskiness of your portfolio. I can give you a general recommendation regarding what proportion of your investment portfolio can be occupied by an investment instrument such as an individual pension plan.

To correctly distribute assets in your investment portfolio, you need to look at the asset distribution offered by the NPF.

Here's a small example. The NPF strategy assumes the following distribution of assets for pension savings: 80% debt investment assets and 20% equity.

Let's say your asset allocation strategy is more rational from the point of view of long-term efficiency and assumes 50% equity and 50% debt assets.

How to correctly compile an investment portfolio in this case?

In my opinion, the investment assets of the IPP should not exceed 15% of the corresponding categories of investment assets (debt/equity) outside the pension system, since investments in the IPP are not fully protected.

I made a small diagram to show you how it will look.

By analogy, you yourself will be able to determine the optimal share of IPP in the investment portfolio. Perhaps you will consider the risks I described to be insignificant and would prefer to buy more assets through an individual pension plan, say 30-40% of investment assets outside the pension system. This is up to you, then you will need to recalculate the shares of investment assets in the portfolio. This is what an investment portfolio will look like with 40% of IPP assets from assets outside the pension system.

conclusions

So, the article turned out to be succinct. And this is not surprising, because each investment instrument has its own characteristics that simply need to be considered in the most detail, and an individual pension plan is no exception.

Today you were able to learn 2 key things:

• How the Russian pension system works (Simplified, of course).
• The most important aspects of an individual pension plan

By the most important aspects of an individual pension plan, I understand the features of its operation, advantages and disadvantages in comparison with other investment instruments, information on how best to choose a non-state pension fund for opening an individual pension plan in it, in addition, you have become familiar with my vision of the situation with the low popularity of non-state pension collateral, and of course how a long-term investor can use this investment instrument in his investment portfolio. An index investor may not like this instrument; as you already understand, it is not very attractive to me (with good reason), so I allocated a small share in a hypothetical investment portfolio.

And finally, he gave answers to frequently asked questions.

If I have not given enough information, something is unclear to you, or you have found errors, please be sure to write to me in any way convenient for you, I will answer you.

That's all I have for today. All the best.

Unfortunately, the average pension in the Russian Federation cannot provide a comfortable existence for older people. In order to not depend solely on government support in old age and have a constant additional income, you can contact a non-state pension fund in advance, use the Sberbank individual pension plan, and significantly increase the profitability of your own pension.

A convenient service for clients, now they can independently choose the amount of their payments

After the law on non-state pension provision for the elderly was adopted in 1995, new opportunities opened up for citizens of the Russian Federation that allow them to take care of themselves in order to have a constant income in old age. The state-assigned pension, combined with payments from the Non-State Pension Fund, guarantees comfort and a secure life after retirement.

This is a project that provides an opportunity to take care in advance of receiving a decent pension and to ensure one’s own old age. You can gain confidence that in the future you will not have to depend on government support and financial assistance from loved ones. Find out in advance about the programs that the foundation offers to all citizens of the Russian Federation.

How it works?

In order to clearly understand how in the future you can increase the size of your own pension and form it yourself, you need to find out how a non-state structure (NSF) works. The fund has developed programs that allow you not only to preserve, but also to increase savings, which, in fact, will form the basis for further payments. The Sberbank pension plan is designed for citizens with different income levels, so everyone can choose the most convenient and affordable method of savings and sign up for this service.

The scheme of this process is quite simple:

1. An agreement is concluded that specifies the schedule and amount of payments;
2. During the period stipulated by the agreement, you make contributions to the NPF;
3. Your money is invested in various sectors of the economy, which allows you to increase the size of your deposit and compensate for inflation;
4. After retirement, you receive the accumulated funds in any convenient way.

You can create a future pension of the desired size through independent contributions and investment income from the fund

NPF Sberbank

There are a number of objective reasons for choosing this particular fund.

In addition to the fact that Sberbank’s individual pension plan provides for profitability at a fairly high level, the undeniable advantages are:

• Reliability. Regular assessment of the bank's activities by independent experts in the field of economics and banking law shows that its reliability ratings are quite high and reach the highest ratings. In addition, the reliability of deposits is ensured by the state's participation in the bank's capital.
• Professional management. It is no secret that the effectiveness of any fund depends on the competent management of entrusted finances; they must be invested in profitable and, at the same time, reliable programs. A team of professionals clearly assesses not only the possible benefits, but also the degree of risk of investments, as a result, the return on investments is at a high level with minimal risks.
• Availability of own assets. This is additional insurance for investors who entrust their money to NPFs.
• Ability to select a program. Income level and desired result are the main criteria that you should rely on when choosing one of the available programs.

Benefits of NPF

The advantages of this particular fund over its competitors

Are you thinking about investing part of your income in a pension project? Sberbank offers several programs to choose from.

The advantages of such a solution will be:

• Opportunity to increase your pension by paying non-burdensome regular contributions.
• Independent choice of contribution amount and payment schedule;
• Profitability (higher than when making a deposit);
• The ability to manage funds (withdraw early, bequeath to heirs, choose the method of receiving invested funds, etc.);
• Return of 13% on investment.

The target audience

It should be noted that there are two categories of citizens for whom this proposal will be especially beneficial. We are talking about those who receive part of their wages unofficially and about persons whose earnings exceed 47 thousand rubles. (the maximum amount from which the state pension is calculated). In the first case, payments from the state will be small, in the second, the level of government payments will be disproportionately lower than the usual standard of living. And for any citizen who has reached old age, an addition to the accrued pension will be an additional opportunity to live with dignity in old age.

Pension project at Sberbank

Let's find out what needs to be done to become a participant in a non-state program, and what options exist at the moment.

Kinds

There are several options for pension formation programs:

• Individual pension plan (IPP);
• Pension corporate programs;
• Mandatory pension insurance.

Bank specialists will help you choose the most suitable option; more detailed information is available on the official website.

Conditions

If you decide to sign up for an individual pension plan at Sberbank NPF, then you should familiarize yourself with the general provisions of the program.

Rules of the program according to which the IPP is issued

Decor

3 steps on how to conclude an agreement on IPP

For registration it is enough:

1. Conclude an agreement in accordance with the chosen program;
2. Open a current account into which funds will be received;
3. Make the first required contribution.

This can be done either at a bank branch or directly on the website. At the same time, a personal account will be opened for you (Internet banking is serviced free of charge) for the convenience of the client. At any time you can make a payment, check the status of your own account or ask a specialist a question.

Contributions

How much is the contribution to be paid?

Payments

You can replenish your open account and increase the profitability of your savings in any convenient way; you determine the schedule and amount of payments yourself when concluding an agreement. You can set the contribution amount yourself (there is a special calculator on the website for this) or indicate the desired amount of the additional pension so that the required monthly payment will be calculated for you.

After completing the individual plan, payment of the accumulated amount is possible:

• One-time:
• Monthly;
• Once every 3 months.

A non-state pension can be paid for 10 or 15 years, or for life.

Sberbank NPF is the best place to accumulate pension capital (video)

An overview of why clients should trust this non-state pension fund to enter into contracts with it.

Conclusion

IPP is everyone’s opportunity to ensure a decent life after finishing their working career. It is not difficult to calculate the amount of government support in advance in order to understand what amounts you can count on in old age. If the result obtained turns out to be unsatisfactory, you can always contact a non-state pension fund, apply for an individual pension scheme and take care of increasing your own pension.

The state-guaranteed pension for many Russians is only enough to pay for housing and communal services and a minimum food package. And for everything else (medicines, clothes, travel) you have to earn money yourself.

And today it’s worth thinking about where the funded part of each of us’s pensions will go tomorrow...

In this article we will talk about one of the simplest and most reliable ways to ensure a decent old age - the Sberbank Non-State Pension Fund.

The Sberbank non-state pension fund was officially registered on March 17, 1995, 2.5 years after the publication of the Decree of the President of the Russian Federation “On non-state pension funds”.

Sberbank NPF is an open-type pension fund and offers its clients a large selection of individual and corporate pension programs, including a state co-financing program.

Over the years of its operation, Sberbank Non-State Pension Fund has received a number of prestigious prizes and awards. For example, in 2014, the Fund was awarded the “Financial Elite of Russia” award in the “Grand Prix: Non-State Pension Fund of the Year” category.

In addition, the NPF of the largest bank in Russia can quite deservedly “boast” of high ratings.

In August 2013, the NRA once again confirmed the maximum reliability of the Fund, assigning it an individual reliability rating of the “AAA” category. And in September of the same year, the Expert RA Rating Agency confirmed the company with an “exceptionally high reliability rating” (“A++”).

Investment policy of Sberbank NPF

Sberbank NPF adheres to a “cautious” investment strategy with an optimal “profitability-reliability” ratio.

Let's consider the approximate structure of the investment portfolio of pension savings of Sberbank NPF (as of April 2014).

More than a third of all investor funds (37.2%) were invested in the banking sector, 11.4% were directed to the financial sector, 11.2% to government debt obligations, 6.9% to the fuel industry. The balance of pension savings is distributed among several promising sectors of the Russian economy: energy, mining, transport, telecommunications and others.

As for financial instruments, in this matter too, preference is given, first of all, to the reliability and liquidity of assets.

59% of pension savings of Sberbank NPF are invested in corporate bonds, 15% are placed on deposits, 10% of funds are spent on the purchase of subfederal/municipal bonds and federal loan bonds, and only 4% are placed in company shares.

Investment of pension savings of Sberbank NPF is carried out through management companies: Kapital, Pension Savings, Region EsM and TKB BNP Paribas Investment Partners (by the way, VTB24 bank also works with the same management company).

Now a few words about the profitability of Sberbank NPF. To complete the picture, experts recommend assessing this indicator for at least the last five years.

So, from 2008 to 2013, every 1,000 rubles of pension savings managed by Sberbank NPF “grew” to 1,635 rubles. At the same time, 2009 turned out to be the most “profitable” year - the Fund’s return for this period amounted to 30.02%. But last year the same figure decreased to 6.72%.

Below we will dwell in more detail on the most interesting offer from Sberbank NPF - individual pension plans.

Benefits of PPI

An individual pension plan is not at all a replacement for the usual state pension, as many Russians mistakenly think. This is simply an “additional payment” to the basic pension, the amount of which the future pensioner forms independently with the help of Sberbank Non-State Pension Fund.

Advantages of IPP:

Profitable

The IPP gives the investor the right to take advantage of the social tax deduction. In addition, all your pension savings can be bequeathed to your heirs.

The profitability of individual pension plans allows you to cover inflation. In Sberbank NPF during 2000-2011. this figure was 319%, which is 23% higher than accumulated inflation over the same period.

Comfortable

You can go through the full procedure for registering an IPP at the nearest branch of Sberbank, where you can then receive your accumulated pension.

The investor can pay pension contributions either at a Sberbank branch (without commission) or through his employer. You can also issue a bank order once, after which contributions will be automatically transferred directly from the depositor’s account.

You can find out your account status at any time in your “Personal Account” on the Sberbank NPF website; the service is provided free of charge.

Just

To “connect” to the IPP, you just need to sign an NPO agreement with the Non-State Pension Fund of Sberbank.

During the entire period of validity of the agreement, the client will receive annual information about the results of the fund’s activities, including its profitability.

How does an individual pension plan work?

Regularly paid contributions to the Sberbank Non-State Pension Fund are invested in securities in order to obtain investment income.

From the moment of reaching retirement age, the client is paid a monthly “earned” non-state pension. Its size depends on the chosen scheme:

With defined contribution

Contributions under this scheme must be paid either once when registering an individual investment project (if the accumulation period is less than two years), or in several stages in a random order.

The amount of the initial pension contribution is set at the request of the investor, but cannot be less than 60,000 rubles (if the accumulation period is less than two years) or 1,500 rubles for all other periods. Each subsequent contribution must be greater than or equal to 1,500 rubles.

As for the size of the future monthly pension, it depends on the amount of accumulated funds and the performance of the fund. By the way, under this scheme, pensions must be paid by the Fund for at least seven years.

You can open a non-state pension agreement in favor of a third party or “redirect” the pension payment to your surviving spouse.

With a fixed payment amount

In this case, contributions will need to be transferred monthly, quarterly or one-time. The size of the contribution depends on the future size of the pension (set by the investor independently) or on the selected pension scheme.

In accordance with the terms of the agreement, the pension to the investor is paid for 10 or 15 years, or for life.

Accumulated pension funds are either not inherited at all, or are inherited partially/fully. We recommend discussing this delicate moment with a bank employee at the stage of signing an agreement with the NPF.

The pension “earned” in this way can be received upon reaching the pension grounds (for example, retirement age). Money is transferred monthly to a card or Sberbank deposit account; if you wish, you can open an account in any other bank.

Specific numbers

What kind of pension can you expect by signing an agreement with Sberbank NPF?

Let's use the pension calculator (on the Sberbank NPF website). Let's assume that a 40-year-old woman who has been working since 1997 earns 20,000 rubles a month. They decided to conclude a non-state pension agreement with NPF Sberbank with an initial contribution of 60,000 rubles and a monthly replenishment of 500 rubles.

With these initial data, her total pension will be 14,745 rubles. Moreover, non-state pension provision will “bring” 2,773 rubles, and the funded part will give another 4,586 rubles.

In total, by the time a woman retires, an amount of 1,448,760 rubles will be accumulated in her account.

What to look for when choosing a non-state pension fund?

Firstly, do not be deluded by the high profitability of NPFs for a certain period (a year or two). The fund's performance must be assessed over the entire period of its existence.

And be sure to check whether the numbers on the official NPF website coincide with the numbers on the Pension Fund website or the pages of independent rating organizations.

Secondly, pay attention to the period of operation of the NPF. To minimize your risks, you should choose funds that have already successfully “survived” more than one financial crisis.

Thirdly, an “outside view” will help to objectively evaluate a particular Non-State Pension Fund. Try to find out whether the selected NPF has appeared in high-profile court cases, study customer reviews on independent resources, and evaluate the Fund’s position in various ratings and rankings.

What is an individual pension plan?

An individual pension plan (IPP) is a savings program for a future pension, it is offered by non-state pension funds. Unlike compulsory insurance contributions, which are paid by the employer for employees at the expense of its own funds to the Pension Fund and are used to pay pensioners, citizens' contributions to such programs are paid on a voluntary basis.

It’s too early for me to think about it: I still have time to earn money for retirement...

The situation with state pension provision is becoming more and more complicated; as the number of pensioners grows, the state’s social obligations grow. In recent years, the Government has been particularly active in discussing the idea of ​​increasing the retirement age. As a result, no one can say when and what kind of pension you will have, much less whether it will be enough to provide at least a minimum subsistence level. Moreover, the size of pension points, based on the number of which the Pension Fund calculates a pension, is tied not only to salary and length of service, but also to the current state of the economy. It is possible that you will have to take care of your pension yourself, and the sooner you start saving money, the greater the increase you can count on later.

How much should you save?

Individual pension plans allow a person with any income level to save. For example, the largest fund (the fund offers IPP in Sberbank branches) has a program where it is enough to make an initial contribution of 1,500 rubles, and then periodically (as the client wishes) replenish it by at least 500 rubles. For example, if you are 20-25 years old, then in order to receive a pension in the amount of 70% of your salary, it is enough to transfer 2-3% of your income to the IPP account every month, but at the age of 36-45 you will need to save 5-10%.

How much of a state pension increase can I expect?

You can calculate the approximate size of your pension yourself using a pension calculator. Most NPFs provide this service. For example, for a 35-year-old man whose salary is 55 thousand rubles and who monthly contributes only 1% of his income to the IPP account, the increase in the state pension can be about 5,400 rubles. The fund will make these payments for 10 years after retirement. If the same client paid 5% of wages per month, then the non-state pension would already amount to 27 thousand rubles.

Does the state give any benefits to those who save for retirement on their own?

Of course, for citizens saving for their pension, a tax deduction is provided - 13% of the amount of contributions, no more than 120 thousand rubles per year. For example, if you deposited 120 thousand into your pension account during the year, the tax service should return 15.6 thousand rubles to you. You can write an application to the employer’s accounting department to transfer contributions from your salary to the IPP, then the tax deduction will be provided automatically.

Or maybe it’s better to buy an apartment or save money in the bank?

To buy an apartment you need a large sum at once, but you can save for retirement gradually. In addition, when investing in housing, you may lose if prices fall. . When saving money in a bank account, you will have to regularly renew the deposit. The bank can extend it on other, less favorable terms. Non-state pension funds invest clients' money in stock market instruments - stocks and bonds. Their yield is significantly higher than that of deposits. The Central Bank and special depositories monitor compliance with investment rules. Clients themselves can see the investment structure of the funds on their websites. The effectiveness of the fund's investment policy can be indicated by its stable return above the inflation rate. Last year, more than half of the funds delivered returns above inflation.

Is it worth saving money for such a long time, given the constant economic crises?

No one is immune from global economic shocks, but, as financiers advise, it is better to meet them with some kind of savings, a safety cushion. Those who invested in non-state pension funds 15-20 years ago are already receiving an increase in their state pension. According to the Central Bank, there are about 1.5 million people, and those who voluntarily save for their future pension are already more than 5.7 million.

What are the guarantees that I will get this money back?

Unlike pension savings funds, which are insured by the DIA, voluntary pension contributions do not have guarantees from the state. Therefore, you should choose a non-state pension fund based not only on its profitability, but also on its reliability. In particular, it is worth paying attention to who is its owner, how transparent its investment policy is, what reputation the fund has in the pension market, how long it has been operating, whether there is a fund branch in your city and whether online services are available. In addition, you should carefully consider the terms of the IPP agreement itself. For example, does it provide for the possibility of early withdrawal of pension contributions and received investment income. For example, standard pension plans provide that the client can withdraw the money after two years, plus half of the income received from the investment. And five years after concluding the contract, in addition to contributions, he will be returned 100% of the income earned. Before retirement, the NPF client has the right to withdraw the entire amount accumulated in his account.

Who gets the money in the event of a client's death or divorce?

According to the law, the fund is obliged to return 100% of the invested funds and the received investment income to the relatives of the owner of the individual pension plan, in contrast to the same insurance pension, to which the heirs have no rights in the event of the death of the pensioner. Also, the balance of a funded pension, which is assigned as part of compulsory pension insurance, is not inherited if the pensioner has applied for and received at least one pension. Another situation is if, for example, the owner of an individual pension plan divorces his spouse. In this case, when dividing property, he will not be able to claim your pension money. By law, accumulated amounts and investment income are not included in joint property. In contrast to the same bank deposits or money in a brokerage account, part of which the ex-spouse can demand through the court.