The Ministry of Finance proposed to complicate the transition from one SPC to another

The Ministry of Finance has prepared amendments to the legislation that, according to the office, will help to minimize the loss of the Russians in the transfer of savings from one non-state pension Fund (NPF) to another or to the Pension Fund of Russia (PFR). The document was read “statements”.

The amendments provide for toughening of the procedure of transfer. Now we need to apply to the FIU. Preservation of investment income when the transfer of savings is guaranteed only if the citizen changes the Fund not more frequently than once every five years.

The Finance Ministry’s proposal stipulates that people who want to transfer a pension, have to double apply to the Fund where their savings. First of all you will go over the translation, in response to which NPF is obliged to inform the citizen about possible losses. After that will be sent directly by the statement of transfer of savings, which the NPF must transmit to the FIU.

It is assumed that for unreasonable refusal to transfer funds NPF will be fined 300 000-500 000 rubles. the Decision on refusal can absolule a limited list of reasons – violation of the form, length, order of application or the inability to establish the identity of the applicant. The bill has already been introduced in the state Duma, if it is approved, the new rules will come into effect on 1 January 2017.

The Ministry of economic development, the FIU, Central Bank, Association of NPF both in General supported the proposals of the Ministry of Finance. This is the conclusion of “Vedomosti” came on the basis of the minutes of the meeting of the interdepartmental working group, a copy of which is in the newspaper. The Central Bank has considered the proposed procedure is too complicated. The regulator has proposed to consider such a scheme: a citizen will apply to your Fund once instead of two, but will have to wait 60 days. During this time, the NPF will inform him about the possible losses and may try to dissuade from going.

The Ministry of labor the Ministry’s initiative is not approved. Receiving applications for transferring money – the Department believes gosuslugi provided by the FIU. If it is to replace a commercial organization, this will make it difficult or impossible to switch from Fund to Fund.

At the end of March to the FIU reported that a million people from a written statement about the transfer of their pension savings in 2015 lost investment income. The Foundation estimates that their total loss amounted to 4 billion rubles.