The Central Bank and the Ministry of labor proposed to guarantee the income from pension investment


The first Deputy Chairman of the Central Bank Sergey Shvetsov proposed to introduce a guarantee for income derived from the investment of pension savings, reports . “In terms of 4% inflation and in terms of what we are just starting to implement the system guarantee, we can see a different model,” he said, speaking on Tuesday, December 13, at the conference “modernization of the pension system”. According to him, every five years it is possible to fix the result, which got the pension funds and to cover it with warranty.

“Maybe we will cover the inflation,” did not rule out Shvetsov. He also noted that the proposal to extend the guarantee on pension savings, including investment income, support in the socio-economic bloc of the government.

Shvetsov said that the proposal on guarantees of pension income from investment securities received from the Ministry of labor.

According to the Central Bank, the extension of guarantees would improve the confidence in the pension system. “It is necessary that the citizens were convinced, not only that you maintain the actual transfer, but that the real value of money is not lost, and that they promised will be done,” — said Shvetsov.

Now, according to the rector of the Russian state social University Natalia Pochinok, a third of citizens do not trust the current pension system. She cited data from a recent survey conducted by the University, according to which the share of citizens do not trust the pension system over the past year increased from 30% to 34%.

“Right now the insurance system covers only the main body of pension contributions and in no way does not cover the cost of money”, — said the Deputy head of Department for pension provision Ministry of labour and social development Dmitry Belovolov. According to officials, the insurance system should at least cover the income of the Fund for the level of current inflation.

Market participants say that the initiative of the Ministry of labour and the Central Bank will hit the profitability of the NPF. “Of course, these costs will be borne by future retirees, but the idea is correct,” — said CEO of Sberbank NPF Galina Morozova. According to her, citizens want maximum guarantees from the state that will be left without their pension savings. “The question is, when is enter. It is clear that the economy needs to stand up to the NPF started to show high returns to additional spending to guarantee minimum impact on our clients, — said Morozov.

Assessment of the General Director NPF “the Future” Nikolay Sidorov, the cost of funds on contributions to the guarantee system may increase by 10%.

The head of a large firm in conversation with called the idea of the Central Bank “very bad” because it reduces the level of responsibility of managers for the results of investment, the head of a large pension Fund. He noted that it would be disadvantageous to the funds because they have so strict rules of investment. “Given the fact the tight control of the NPF, which holds the regulator, this measure is excessive,” he says.

The Central Bank acknowledged that the introduction of a system of guarantees for investment income NPF will affect their results. “We have not yet calculated the costs of funds for guaranteeing investment returns. It was the proposal of the social block until we study it, — said Shvetsov.

The head of the Association of private pension funds Sergey Belyakov believes that the initiative guarantees investment income will adversely affect the efficiency of the NPF and management companies. “Now managers are interested in the financial result, because the yield for the NPF is a tool of competition. Guarantee investment income is a burden on the funds, especially in conditions of a stagnating economy,” he said.

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