The Bank of Russia began to check the private pension funds on compliance with the requirements of the guarantee system of pension savings. This assessment is conducted for the first time after the creation of the Deposit guarantee system.
Now, according to the DIA, in the guarantee system consists of 35 pension funds, which are concentrated more than 95% of all savings transferred to NPF. The Central Bank began its review with the pension funds included in the group BIN shishkhanova and Mikail Gutseriev brothers, said a source close to the regulator. This information was confirmed by two sources in the BIN group and financier, who learned it from the Central Bank. Check in the funds began on Monday, March 21, said a source close to the Central Bank.
The press service of the BIN group declined to comment.
Pension the BIN group is growing the fastest on the market, and this could be the reason that the regulator has decided to start checking her pension funds, says a source close to the Central Bank. According to the Central Bank on 30 September 2015, the group managed 133,8 billion of pension savings. For the nine months pension savings of the group increased by 95 billion rubles due to attraction of new clients and buying of NPF Raiffeisen. Pension the group Bin became the leader in attracting new future retirees in 2015: on the transfer of their savings in the funds of said 2.2 million people, of which FIU has approved the 1.8 million applications.
Employees of Bank of Russia last year said that private foundations should not just join in the guarantee system, but also thereafter to comply with the requirements of the regulator, said Advisor to the President of the National Association of pension funds Valery Vinogradov. “The Central Bank promised to check the quality of the assets, and how invested. Technicians will check your system of risk management funds, the Foundation staff will have to prove the effectiveness of investments of any asset,” says Vinogradov.
The system of guaranteeing pension accumulation was established in December 2013. By the end of 2015, all pension funds, who want to work with mandatory pension savings, had to apply for membership in the system and undergo a preliminary check by the Central Bank. The act States that the Central Bank evaluates funds based on several parameters: the extent to which the Fund discloses information about its activities and owners; whether there are enough own funds and assets in the Fund; whether the Fund’s management the requirements for qualification and business reputation; and other.
The system of the pension savings guarantee protects the interests of citizens, generating contributions to private foundations. If pension funds will go bankrupt, the state will reimburse to its customers the value of pension contributions from the guarantee Fund.