Ria rating. The Central Bank named pension funds with the lowest profitability State pension funds profitability rating

RIA Rating - June 8 The beginning of 2017 turned out to be quite good for the non-state funded sector pension system. Thus, according to the Bank of Russia, the volume of placed pension savings in NPFs in January-March increased by 11.2% to 2.37 trillion rubles. The dynamics of the beginning of 2017, although inferior to the same period in 2016, following which savings grew by 17%, can still be considered good, taking into account the effect of an increased base.

At the end of the first quarter of 2017, the number of people who chose non-state pension funds to place their mandatory funded pension increased to 34.4 million people. For comparison, on January 1, 2017, there were just under 30 million, and on April 1 of last year - 29.3 million. In the first three months current year Russian non-state pension funds were able to increase their client base by approximately 15.4%, and over the past 12 months the growth was +17.2%. Thus, the process of transition of the so-called “silent people” to NPFs continues. At the same time, further explosive growth in the number NPF clients, apparently, it’s not worth the wait.

The number of non-state pension funds is rapidly declining

Over the past 12 months, about a third of Russian non-state pension funds have left the market. This is evidenced by the results of the rating of non-state pension funds (NPFs) based on the results of the first quarter of 2017, prepared by RIA Rating experts, based on data from the Central Bank of the Russian Federation.

At the end of the first quarter of this year, only 41 organizations remained in the rating of NPFs (the rating includes existing NPFs with non-zero savings), although a year earlier there were 61 such organizations. The reduction in the number of NPFs as a whole fits completely into the general market trend towards the reduction and consolidation of players in the financial market . In addition, this segment financial market is still very young by Russian standards, so the pension savings market continues to be subject to noticeable transformations.

As a result of the reduction in the number of funds and their consolidation, according to the results of the first quarter of 2017, the first five largest funds already account for 57.3% of all pension savings, compared to 55% as of April 1 last year. In turn, the ten largest NPFs accumulated 84% of pension savings as of the last reporting date, while a year earlier the TOP-10 NPFs accounted for 80% of savings. According to RIA Rating estimates, consolidation in this market will continue to grow, and in the coming years the TOP-10 NPFs will occupy more than 90% of the market.

It is worth noting that based on the results of the first quarter of 2017, the number of non-state pension funds with negative dynamics of pension savings significantly decreased. If at the end of the first quarter of last year more than 60% of non-state pension funds were characterized by a decrease in the volume of savings, then at the end of January-March 2017 this figure dropped to 32%. Thus, this may indirectly indicate the imminent end of the process of rapid exodus of players from this market.

New names in the top ten largest non-state pension funds

In the first quarter, there were several noticeable changes in the TOP 10 NPFs, while most of the funds retained their positions in the ranking. In particular, six funds from the TOP 10 retained their positions relative to the beginning of the year. At the same time, NPF VTB Pension Fund and NPF Electric Power Industry were unable to maintain their positions in the ranking based on the results of the first three months of this year, each of which lost one position within the top ten. At the same time, NPF "RGS" and NPF "Doverie" were able to show positive dynamics in their rating positions. In particular, NPF "RGS" rose by one place, and NPF "Doverie" immediately by two positions to ninth place in the current ranking. The impressive dynamics of NPF "Doverie" is largely due to a noticeable increase in the number of insured persons (+33%), which is the 8th result among all NPFs and 2nd among the TOP-25 NPFs. In general, the good dynamics of attracting new clients allowed NPF "Doverie" to enter the top ten largest Russian funds.

For the 8th quarter in a row, NPF Sberbank has been the largest NPF in Russia. At the same time, he continues to break away from the “pursuers” - market price its savings in the first quarter increased by 25.6% to 444 billion rubles, while the second NPF from the rating (NPF "FUTURE") the growth rate in January-March 2017 was 2 times less - 11.7%. Thus, the significant difference in the dynamics of savings among the leading funds allowed NPF Sberbank increase the gap from second place to 153 billion rubles of savings, whereas at the beginning of the year it was 94 billion rubles. Second place in the ranking was taken by NPF FUTURE with pension savings of 290 billion rubles, and in third place was NPF LUKOIL-GARANT with 253 billion rubles. The fourth and fifth places in the ranking are occupied by NPF SAFMAR and NPF RGS, whose savings amounted to 188 and 182 billion rubles, respectively.

In terms of the number of insured persons, Sberbank Non-State Pension Fund is also the leader with 6.82 million insured persons as of April 1, 2017. At the same time, NPF Sberbank observed the largest absolute increase in insured persons in the first quarter (+2.6 million clients per quarter), and in terms of growth rate in the number of clients (+61%) this fund showed the best result among the TOP-25 funds. In general, the very large increase in the number of clients of Sberbank NPF attracts attention. Firstly, Sberbank managed to attract almost two thirds of all new NPF clients, which is a very good result. However, with a significant increase in the number of clients and a good return on investment, the number of savings has not grown so much. Thus, Sberbank NPF has attracted many rather “poor” clients, which is also not bad, but perhaps not so interesting in terms of business development.

The second and third in terms of the number of clients, as well as in terms of the volume of savings, are NPF “FUTURE” with a result of 4.44 million people and NPF “LUKOIL-GARANT” - 3.51 million people.

It is worth noting that among the largest funds, a relatively noticeable difference between the number of clients and their funds is observed in three of the largest funds: NPF SAFMAR, NPF RGS and NPF GAZFOND. These funds have a small number of insured persons, but at the same time the volume of savings is quite significant. Consequently, these funds have a higher volume of savings per client and it can be assumed that they serve fairly wealthy clients.

The yield of most NPFs is multiples higher than inflation

The profitability of non-state pension funds is decreasing, but continues to remain at a good level. In particular, according to the results of the first quarter, the median yield of NPFs from the rating was 8.3%, while in the first quarter of 2016 it was 10.5%. And 35 out of 41 funds showed returns above the inflation rate.

At the same time, 10 funds were able to earn more than 10% in the first quarter, while in the same period last year there were 34. It is worth noting that at the beginning of this year, not a single fund showed a return higher than 13%; in the first quarter of 2016, the return of 11 funds exceeded this level, and one of the funds even had it - 17%.

At the same time, the highest profitability in January-March 2017, according to the Bank of Russia, was characterized by KITFinance NPF, which ranks eighth in the ranking in terms of savings volume. In particular, the return on his investments was 12.3%. In general, the highest returns on investing pension savings in the first quarter of 2017 were demonstrated by medium and small funds.

In turn, the weakest result was observed for non-state pension funds in the electric power industry - -5.4%, occupying tenth position in the non-state pension fund ranking. In general, compared to the situation as of April 1, 2016, the number of funds with negative returns has increased. A year earlier there were 2 of these, and by the end of the first quarter of 2017 there were 4.

RIA Rating- it's universal rating agency media groups MIA "Russia Today", specializing in assessing the socio-economic situation of regions of the Russian Federation, the economic condition of companies, banks, economic sectors, countries. The main activities of the agency are: creating ratings of regions of the Russian Federation, banks, enterprises, municipalities, insurance companies, valuable papers, other economic objects; complex economic research in the financial, corporate and government sectors.

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RIA Rating - May 10. Dynamics of the non-state market pension funds Russia's income in 2017 was quite good, but it is still hampered by the freezing of funded pensions. Against this background, the range of options discussed for reform of the Russian pension system is still quite wide, although Lately mainly discussing a gradual increase in the retirement age, as well as the introduction of a new mandatory contribution in NPF.

In general, at the end of 2017, the number of people who chose non-state pension funds to invest their funded pension exceeded 34 million people; for comparison, as of January 1, 2017, there were 30 million people, and at the end of 2015 - 26 million. Behind last year the number of NPF clients increased by 15%, against an increase of 13% in 2016. Thus, despite the “freezing” of funded pensions, the market continues to develop, which is most likely due to the activity of non-state pension funds in attracting clients.

At the same time, the number of players continues to decline. Due to mergers of a number of NPFs, their number decreased over the year to 38 (the rating includes existing NPFs with non-zero savings) at the beginning of 2018 against 41 a year earlier.

At the end of last year, the volume of pension savings in non-state pension funds increased by 14.3% or 300 billion rubles (24% in 2016). In general, as of January 1, 2018, the volume of pension savings in Russian non-state pension funds exceeded 2.4 trillion rubles. For comparison, as of January 1, 2015, the amount of savings was equal to 1.1 trillion rubles, that is, over 3 years, the volume of savings in non-state pension funds has more than doubled. According to RIA Rating experts, the noticeable slowdown in the growth rate of savings in 2017 is due to two factors. First, due to lower interest rates in the economy, growth due to the capitalization of investment income decreased. Secondly, a large number of citizens have already chosen NPFs, so the potential base of new clients is becoming smaller, and, as a rule, newly attracted clients in general are not so large.

Despite a number of negative aspects, Russian non-state pension funds continue to strengthen their positions in the Russian financial system. After all, in addition to 2.4 trillion rubles of pension savings, NPFs also have approximately 1.4 trillion rubles of other assets. Thus, the total assets of Russian non-state pension funds amount to just under 4 trillion rubles, which is more than the assets of the fourth largest bank in Russia, and constitutes approximately 4% of the assets of the Russian financial sector.

Nine non-state pension funds showed negative dynamics

To assess the situation in the context of individual funds, the RIA Rating agency conducted an analysis and prepared a rating of Russian NPFs in terms of the volume of pension savings as of January 1, 2018. The ranking presents data as of January 1, 2018 for 38 non-state funds Russia, whose reports were published by the Central Bank of the Russian Federation.

According to the study, the composition of the largest non-state pension funds on the market has changed significantly over the past year. In terms of the size of pension savings in the NPF rating, Sberbank NPF continues to lead with book value savings as of January 1, 2018 in the amount of 470 billion rubles. Sberbank NPF has been a leader for 11 quarters in a row. Over the past year, this NPF showed an increase in savings by 33% or 117 billion rubles. Thus, Sberbank’s NPF provided more than a third of the total growth in the pension savings market as a whole. At the same time, according to absolute growth savings Sberbank did not become a leader; NPF GAZFOND pension savings had a more significant increase. At the end of 2017, this pension fund was in second place with pension savings at the level of 457 billion rubles. GAZFOND pension savings showed an increase in the funds of future pensioners in the amount of almost 300 billion rubles, or 2.8 times. In relative terms, this is the fourth result among all funds and the best in the TOP-30. This result of NPF GAZFOND pension savings was a consequence of the takeover of a number of large NPF funds Promagrofond, KITFinance NPF and NPF Heritage, which respectively left the rating, although a year earlier they were in the TOP 15 largest funds.

Third place in the ranking is now occupied by NPF FUTURE with savings of 283 billion rubles, although a year ago it was second. The fourth and fifth largest pension savings funds were NPF LUKOIL-GARANT and NPF SAFMAR, whose savings amounted to 253 and 192 billion rubles, respectively. The funds that took places from 3rd to 5th showed rather weak dynamics. Their growth was within +9%, and two of these three funds showed negative returns at the end of the past year. The first five largest funds already account for 68% of all pension savings, although a year earlier it was 57%, and the first ten funds as of January 1, 2018 accounted for 92% (77% at the beginning of 2017). Thus, in 2017 there was a noticeable consolidation in the non-state pension fund market.

Also, the consolidation of funds is evidenced by an increase in the average fund size. In particular, based on the results of the current rating the average size the fund increased to 64 billion rubles against 52 billion rubles as of January 1, 2017. At the same time, the number of both the largest funds, the accumulation of which exceeds 100 billion rubles, and medium-sized funds with funds of more than 10 billion rubles, decreased according to the results of the rating. Thus, 7 funds with funds of more than 100 billion rubles and 15 funds with more than 10 billion rubles remained in the rating, whereas a year earlier (at the beginning of last year) there were 8 and 18 funds, respectively.

At the end of 2017, the number of funds with negative dynamics of pension savings increased quite sharply. If at the end of 2016 only 10% of non-state pension funds were characterized by a decrease in savings, then last year already 24% had negative growth rates. It is worth noting that the decrease in pension savings was mainly observed in small and medium-sized funds, which may indicate the transition of clients from them to larger non-state pension funds.

The most high rates growth was demonstrated by NPF AVTOVAZ, NPF Alliance and NPF FEDERATION. At NPF AVTOVAZ, the volume of savings has increased 4 times, and the number of clients has increased 3 times. NPF "Alliance" showed an increase in pension savings by 3.9 times, and the number of its clients increased by 3.5 times. In turn, NPF "FEDERATION" savings have grown 3 times over the past year. Despite such impressive growth, all three of these funds are in the bottom ten of the ranking, which means they still remain small. At the same time, the largest reduction in pension savings was observed in NPF Telecom-Soyuz and NPF Social development" - -10.6% and -10.2%, respectively.

The largest funds suffered losses

The highest returns on investing pension savings in 2017 were demonstrated by small funds: NPF "Almaznaya Osen" - +11.2% and NPF "Gefest" - +10.0%. And among relatively large funds best return NPF GAZFOND had pension savings - +9.5% and NPF VTB Pension Fund - +9.0%.

At the same time, four large funds (from the TOP 10) showed negative returns at the end of 2017, while last year there were no unprofitable funds at all. At the same time, NPF LUKOIL-GARANT suffered the most, the return on investments for the year amounted to -5.3%. The second largest loss was NPF "RGS" - -2.9% for 2017. The third and fourth funds in terms of negative returns were NPF FUTURE and NPF Electric Power Industry (-2.0% and -1.7%, respectively). , negative financial results for all four funds it is due to investments in assets associated with the Otkritie Bank, which is being rehabilitated.

In general, the median return of Russian non-state pension funds in 2017 was 8.3%, thus, most funds managed to show returns much higher than inflation (2.5%). In many ways, the relatively good yield is determined by government bond rates, which remain well above growth levels retail prices. A decrease in the refinancing rate and, accordingly, the profitability of the debt market will reduce the profitability of NPFs, however, according to RIA Rating analysts, medium term NPFs will continue to show returns much higher than inflation and higher than rates on deposits in the largest banks.

Over the past five years (from January 1, 2013 to January 1, 2018), the Volga-Capital NPF had the highest return on pension savings - the return on its investments for this period was 62.7% (average annual rate - 10.2%). In second and third place in terms of investment return are the NPF "Defense-Industrial Fund named after V.V. Livanov" and NPF "Socium", which were able to increase the savings of their clients by 57.9% (9.6% on average for the year) and 57.5% respectively (9.5%). The fourth place in terms of profitability is occupied by NPF GAZFOND pension savings with a five-year result of +55.7%. In general, 10 funds were able to demonstrate returns above 50% over five years (more than 8.4% of the average annual return), while 30 funds showed more than 40% returns over five years.

RIA Rating is a universal rating agency of the media group MIA "Russia Today", specializing in assessing the socio-economic situation of regions of the Russian Federation, the economic condition of companies, banks, economic sectors, countries. The main activities of the agency are: creating ratings of regions of the Russian Federation, banks, enterprises, municipalities, insurance companies, securities, and other economic entities; comprehensive economic research in the financial, corporate and government sectors.

MIA "Russia Today" - an international media group whose mission is prompt, balanced and objective coverage of events in the world, informing the audience about different views on key events. RIA Rating, as part of MIA Rossiya Segodnya, is part of the agency’s line of information resources, which also includes: RIA News , R-Sport , RIA Real Estate , Prime , InoSMI. MIA "Russia Today" is the leader in citation among Russian media and is increasing the citation of its brands abroad. The agency also occupies a leading position in terms of citations in Russian social networks and the blogosphere.

Non-state pension funds is a non-profit form of social security. The main activity of these organizations is additional pension provision and compulsory pension insurance, carried out on a voluntary basis.

Regulation of the activities of these organizations produced by two laws:

• dated December 15, 2001 No. 167-FZ "About mandatory pension insurance V Russian Federation»;
• dated 05/07/1998 No. 75-FZ “ About non-state pension funds".

The legislation of the Russian Federation has limited the list of tools for investing in non-state pension funds, which allows you to ensure stability in the growth of savings and reduce the risks of bankruptcy.

The activities of these funds are carried out on a voluntary basis and include increase and savings pension contributions, as well as the assignment and payment of non-state savings to fund participants.

These organizations enable citizens to form their savings at an expense within the chosen savings program. Depending on the selected fund interest rate investment of savings applied to the savings part varies.

How to choose a non-state pension fund for transferring pension savings?

You should choose a non-state pension fund from those that are included in the insured persons. This choice will determine the size of the resulting investment income from savings. There are a number of criteria that help in solving this problem that are worth paying attention to:

• Year of creation- the older the fund, the more experience. Special attention should be paid to companies that began their activities before 1998, because they survived two crises;
• Founders of the fund- the larger the founding organization, the more reliable the fund. Data about the founders must be indicated on the website of the NPF chosen by the citizen. You should also choose from organizations that were created by industrial, thermal power, mining enterprises, as well as large banks; as a rule, these funds are the most stable;
• Degree of reliability- this indicator is calculated from several performance criteria. This data is published annually by rating agencies such as Expert RA, National Rating Agency;
• Profitability- must exceed the inflation rate by several percent. This information is posted on the website of the selected non-state pension fund, as well as rating agencies. This indicator must be reviewed over several years to determine stability.
• Transparency and openness- the foundation has a personal website, the ability to create Personal Area, completeness of constituent and financial information.
• Fund reputation- customer reviews on forums and social networks.

How is the reliability of non-state NPs assessed?

Fund reliability- this is a guaranteed fulfillment of obligations to clients. It is assessed according to the following indicators:

• The total volume of pension reserves shows the scale of activity and shows its solvency.
• The authorized capital of the fund is a guarantee of reliability, protection of the rights of participants and insured persons.
• Experience in the market for providing services pension provision- the number of participants and the dynamics of their increase or decrease.
• The level of professionalism of the fund's personnel is their qualifications and work experience.
• The composition of the founders indicates proximity to leading, financially stable enterprises.
• Reputation in the market - suspension of the license, loss-making balance sheet, etc.
• Diversification investment portfolio- distribution of risks between investment programs.

Rating agency "Expert RA"

"Expert RA"- this rating agency, which is a leading analytical and communication center in Eastern Europe and the CIS, is a member of the international RAEX group, which conducts expert assessments and shows the degree of reliability of a particular organization. Currently it ranks first in assigning individual ratings - more than 800, which is 46% of the total number of assigned ratings.

The center's specialists have developed a system for assessing a number of indicators, which can be used to see the degree of reliability of a company.

The main directions of its activities are:

• compilation credit ratings companies both private and municipal entities, as well as assessing the degree of their attractiveness;
• study banking sector, insurance, leasing markets, factoring, microfinance organizations and non-state pension funds;
• formation of rating lists companies in various industries activities.

NPF reliability scale (table)

To determine the degree of reliability, including of non-state pension funds, Expert RA specialists have developed a system of classes:

Rating of Russian NPFs by reliability in 2019

The past year was quite favorable for non-state pension funds and at the end of 2016 and beginning of 2017 there was a small but stable growth. At the beginning of the year, there were 43 funds, the leading ten practically did not change their composition:

Profitability indicator of non-state pension funds

Along with reliability, it is customary to consider fund returns. Perhaps the percentage of return of a non-state pension fund is not a very subjective indicator, which is influenced by many factors: the state of the financial market, economic stability (including political stability), inflation, etc. However, you should first of all focus on it when choosing a non-state pension fund.

Profitability data is also published on the website Central bank RF:

This list is updated annually and is compiled taking into account all organizations existing at the end of the year.

According to statistics from the Bank of Russia, the past year was rather favorable for NPFs. The official rating of Russian NPFs 2017 in terms of reliability and profitability according to the Central Bank of Russia, published on the website of the Central Bank of the Russian Federation, after the recession in the autumn-winter of 2015, there has been a small but steady increase in pension savings in non-state pension funds of the Russian Federation.

However rating of NPF "Samfar" demonstrated the most powerful growth in savings- behind last year they increased 6 times. This allowed the fund to make a sharp jump up 11 steps and take sixth position in the ranking. It’s no wonder that the number of Samfar’s clients has also increased more than 10 times. The reason for this strong growth is the consolidation of the pension funds of the Bean group.

In general, NPFs are showing positive dynamics - in three more NPFs (Soglasie, Doverie and Surgutneftegaz), savings have more than doubled.

NPF profitability rating 2017

However, “biggest” does not mean “most profitable”. The most profitable for clients was CJSC KITFinance Non-State Pension Fund (12.29%), then three follow: (“NPF GAZFOND pension savings”, “Heritage”, “Promagrofond”) with a yield of 12.21% to 12.19%.

I'm glad it's enough a large number of Non-state pension funds received more income than inflation (for 6 months of 2017 it amounted to 2.3%). And the profitability of some non-state pension funds turned out to be less than inflation.

Level of trust in NPFs, NAFI survey

In general, in 2017, the majority of Russian non-state pension funds showed that they know how to manage pension deposits. Despite the devaluation of the ruble, the profitability of most of them is higher than the inflation rate. And which NPF is the best - reliable or profitable - is up to you to decide.