Pension is the prerogative of not only the FIU, but also a large number of non-governmental organizations of the corresponding profile. One of the most famous is NPF Sberbank. What characterizes the activities of this non-state pension fund? What do customer reviews say? What are the positions of this fund in the ratings?
What is a non-state pension fund
Before exploring the non-state pension fund of Sberbank, it will be useful to conduct a small theoretical excursion into the main subject of the current issue. What kind of organizations are NPFs? Non-state pension funds - what are the specifics of their work and the purpose of the institution?
The first NPFs appeared back in the 90s, but for a long time they did not receive wide distribution. They represent an alternative to the state organization - the Pension Fund of Russia, which became the successor of a similar structure that functioned in the USSR. The creation of private funds was dictated, according to experts, by the desire of the state to reduce the budget load. How?
The fact is that the bulk of the state’s pension obligations to citizens, based on the specifics of the current social security system in the Russian Federation, arises from the formation of the funded part of payments. The basic part of the obligations is comparatively small - its state to a large extent takes upon itself.
Non-state pension funds, in addition, in many cases provide a higher level of appropriate payments due to mechanisms of investing in various kinds of assets, participation in the purchase and sale of securities and other types of legitimate commercial activities. As a rule, NPFs for this purpose cooperate with management companies that manage such financial strategies.
Pension reserves in funds are adequately protected by law. In addition, the criteria for admission of NPFs to activities are now quite strict, and therefore a company with a risk of bankruptcy simply cannot enter the market. Now in Russia there are several dozen large private pension funds. Among them is the non-state pension fund of Sberbank. What is the specificity of its activities? How high is the profitability of NPF Sberbank for 2013 and expected in 2014?
General information
We will study general information about the fund under study. The founder of the NPF is Sberbank of Russia, the largest credit and financial organization in our country. The fund was created in 1995, 3 years after the publication of the Decree of the President of the Russian Federation, which became the first legal norm governing the activities of the company.
This non-state pension fund is a member of the relevant national association. According to many analytical agencies, the rating of NPF Sberbank is one of the highest in the range of existing non-state pension funds. According to one of the largest organizations making up the relevant estimates, this fund is as reliable as possible. In particular, experts of the National Rating Agency and such an organization as Expert RA adhere to such positions.
NPF Sberbank of the Russian Federation refers to organizations that are classified as "open fund". The institution offers a wide range of individual and business-oriented pension programs. In particular, service contracts can be concluded by citizens (both within the framework of compulsory insurance, as well as those providing for participation in the co-financing program) and a legal entity. It is possible to conclude contracts on individual conditions, within the framework of which a personalized pension plan is compiled that meets the legislative criteria.
Addresses of NPF Sberbank can be found in almost any region of Russia. This non-state pension fund is one of the most famous in the Russian Federation; its branches are represented in the country in a wide range. The main activity of NPFs is carried out through the offices of the parent company, as well as through the use of agent network resources.
Managment structure
The highest governance structure of the organization is the Council of the Fund. He is in charge of strategic issues and general management of the institution. The Fund Council also develops various kinds of regulatory documents, approves plans for managing pension reserves, calculates profitability and other financial performance indicators.
The Audit Commission is also present in the management structure of NPF Sberbank. It is responsible for the control of the economic activities of the organization. A commission is appointed by the Board of the Fund. Also in the management structure of the organization is the Board of Trustees. In his competence - supervision of the organization for compliance with the law. The Board of Trustees includes plenipotentiaries of the clients of the fund.
Reorganization
In April 2014, the fund was reorganized and received a new legal status. Now it is officially called ZAO NPF Sberbank. Prior to this, the fund had the status of a non-profit social security organization. All rights and obligations of a non-state pension fund operating within the framework of the previous form of management are transferred without changes to an organization that began to work as a joint stock company.
The amount of the authorized capital of NPF Sberbank in the form of a ZAO is 150 million rubles. The shares are owned by the founder. That is, Sberbank of Russia. The corporatization of the fund, as experts say, is associated with new legislative requirements. According to them, until January 1, 2016, all non-state pension funds that operate in the field of compulsory pension insurance should be transformed into joint-stock companies. If the NPF is functioning, combining social security and non-state support, then a fund should be formed that is engaged in work in the first direction separately. In turn, non-state pension funds whose activities are related to non-state support are subject to corporatization until January 1, 2019. If funds of the appropriate type are not met with conversion within the statutory deadlines, they will be liquidated.
Regalia
NPF Sberbank - an organization that managed to get a lot of industry awards for the results of its activities. Which of them can be noted in the first place?
In 2013, for example, the fund was awarded the prestigious diploma of the Expert RA agency (the one that compiles the ratings of the funds). Nomination - "For the development of private pension provision." In the same year, NPF Sberbank received another prize. It is called the "Financial Elite of Russia." The nomination sounds like "Dynamics of Development".
In 2012, NPF Sberbank was also awarded an award from Expert RA. But then the nomination sounded differently - "For high growth rates of the client base for NPFs." In the same year, the NPF received the "Financial Olympus 2011" award. The corresponding nomination sounded like "Retail NPF". She was awarded in a special category, which was called "Dynamics and efficiency."
In 2011, NPF Sberbank also received diplomas from Expert RA. Moreover, in several categories at once. The first is "For high growth rates of the client base." The second - "For improving reliability indicators."
In 2010, according to data from a number of sources, NPF Sberbank was the only organization in its field that won the "Company of the Year" award. The nomination sounded like "Finance." In addition, in the same year, the foundation received the Finance 2010 award. The corresponding nomination sounded like "For the foresight of the strategy."
In 2009, the NPF was also the only organization in its field that was awarded the Financial Olympus award. The nomination sounded like "Strategy for managing a private pension fund." In 2008, the Fund received the "Count Guryev" award for its great contribution to the development of the core industry. In 2007, the NPF was awarded the "Financial Olympus". The nomination sounded like "Strategy for managing a private pension fund."
Customer Opinions
Well, Sberbank NPF has enough regalia. But how do customer opinions correlate with them? What is the nature of the reviews they leave on industry Internet portals? NPF Sberbank - reliable, based on the opinions of customers, structure? The question is controversial. But we will try to provide guidelines for a possible answer to it.
If we take customer reviews of 2014 or previous years as the basis for evaluating the performance of NPF Sberbank, we can distinguish two groups of opinions. The former are neutral negative. The second is positive. Regarding the first. People are impressed by the availability and quality of the service infrastructure created by Sberbank. You can go to any branch of the relevant financial institution and ask any questions regarding the work of private pension funds, to solve the difficulties that arise. At the same time, as noted by some clients, the level of responsibility of specialists of some departments, which, quite possibly, is due to the not completely worked out mechanism of interaction between the fund and the structure that established it, is not always high. And this is some minus that the reviews reflect. At the same time, NPF Sberbank is praised for its technological effectiveness (a little later we will reveal this nuance). They note the high quality of reporting. For example, at the end of the year, clients always receive documents detailing what profitability of the Sberbank NPF for a particular period. This kind of feedback can be attributed to uniquely positive. Also in this category there are opinions that reflect the high quality of consulting agents concluding pension service agreements with citizens. Although, as some experts note, this may not be directly related to the personnel policy of Sberbank.
Not only customer reviews can talk about public opinion regarding the activities of the fund. NPF Sberbank is present in a number of so-called "popular ratings" compiled by some industry portals. In this case, as a rule, the quality of service is evaluated. The specific positions of the fund, however, vary greatly in different versions of the ratings.
Electronic format
Actually, now about the aspect that reflects the modernity of the infrastructure. We noted above that the work of NPF Sberbank is sufficiently technologically advanced - and this is noted primarily by customers. This is mainly about online channels of interaction between the fund and investors. Each client of Sberbank Non-State Pension Fund has a Personal Account, access to which is possible through a browser. In addition, new clients can also apply for registration in the NPF system through the website of this organization. It is enough to scan photos, passport, SNILS, and then upload them through the online form. According to some experts, modern technologies that are introduced at Sberbank's private pension funds (“My Account” above all) will subsequently become an industry standard and will also be actively used by other funds.
Profitability
Now about income. How profitable is it to give a pension under the management of NPF Sberbank? Does 2014 promise to be profitable based on the economic situation?
First of all, experts note that the benefits of interacting with non-state pension funds largely depend on the specifics of agreements concluded between them and citizens. The most profitable contracts are the so-called individual plans. The fact is that they are adapted to the nuance that is relevant for Russia - wages "in envelopes". In addition, this type of agreement is well suited to citizens with a salary exceeding 47 thousand rubles (since this is the ultimate base for calculating pension contributions).
Now to the specifics. What are the profitability indicators of NPF Sberbank for 2013? The figure published by the organization is 6.74%. To the layman, of course, it may seem modest. However, it is higher than inflation, which in 2013 amounted to 6.5%. And this is one of the main criteria for interaction with NPFs, experts say. Objectively speaking, it is problematic to earn large sums for NPF investors. The most important thing is to protect your pension from inflation. And if the NPF copes with this, then the results of its activities, in principle, can be assessed as positive. So analysts say. Well, inflation is quite manageable if you look at the results of 2013, established by such an influential structure as Sberbank, NPF. Customer reviews indicate that indicators generally suit citizens. Although, as noted by NPF investors, there are funds where the yield was higher.
However, it makes sense to study indicators not only for a single year, but also for several years. It is estimated, for example, that from 2009 to the first quarter of 2013, the profitability of Sberbank NPFs amounted to about 70%. And this is much, about 31%, higher than cumulative inflation for the corresponding period. Meanwhile, according to some industry ratings, the average annual yield of Sberbank NPFs is 7.86%.
Prospects
What do experts think of fund yield forecasts? What are the chances that positive customer reviews addressed to NPF Sberbank will prevail on industry portals? 2014 is a difficult year for Russia economically and politically. How will sanctions, a drop in oil and ruble prices affect the profitability of private pension funds?
Experts believe that the determining factor here is the actions of the Russian government. In all likelihood, analysts say, the authorities will have to work hard to modernize the country's overall economic development strategy. If the government can withstand the challenges dictated by the external environment, then there is every chance that the accumulation of citizens in NPFs will grow sufficiently intensively.
Rating Aspects and Financial Performance
Now about ratings and financial indicators. Is it worth it to pay attention to them in principle? To what extent do customer reviews correlate with them? NPF Sberbank of the Russian Federation, as you know, is rated on a higher scale by agencies of the level of "Expert RA". According to one of the latest forecasts of this organization, the reliability of the fund will be stable. There are other ratings, which, in particular, take into account such indicators as the number of customers, profitability, and involve a number of analytical tools from the field of economics, such as, for example, the Sharpe ratio. According to them, the fund also occupies fairly high positions.
There is evidence that NPF Sberbank showed the highest growth dynamics among organizations in its segment in the first half of 2013. According to the results of 2013, the fund entered the top three in terms of the volume of savings. It is known that the company is present in the TOP-10 organizations of its profile according to such a criterion as the number of customers with whom compulsory pension insurance contracts are drawn up, as well as NGOs.
The average amount of a client’s contribution to the NPF of Sberbank is about 56 thousand rubles. This indicator is one of the highest among the leading funds. In particular, it is approximately 1.3 times more than the market average. According to the results of 2013, NPF Sberbank held a market share of 6.65%. The accumulation volume is more than 72 billion rubles.