In the field of pension provision there are state and many non-state pension funds. What are they needed for? Their activity is aimed at providing citizens with pensions, their accrual, calculation. In non-state funds, as a rule, the rate of accumulation is higher. And the transfer of their retirement savings to non-governmental organizations has become a prerequisite in Russia. What is NFP? Consider in the article customer reviews of the non-state pension fund Lukoil-Garant.
What is a non-state pension fund (private pension fund)?
This is an organization that provides non-state retirement benefits. Funds are regulated by law No. 75-FZ “On Non-Governmental Pension Funds”. Why are such organizations needed? The functions of non-state pension funds are to collect funds, which are insurance contributions, finance pension expenses, recalculate pension payments, and also pay pension.
It’s worth digging deeper into history to understand how it all began. The first pension funds in Russia appeared after the President of the Russian Federation issued Decree No. 1077 “On Non-State Pension Funds” (September 16, 1992). It was adopted at the stage of financial reform. The decree also has the force of law. The latter was adopted by the President of the Russian Federation as part of extraordinary powers.
The work of the NPF is to form a pension. The organization transfers these savings to management companies (UK). In turn, the latter invest them. There may be several management companies, but it can also be one. The funds transferred to her are in trust. The legislation of the Russian Federation established that these finances are assets in which pension savings are invested, and also are the structure of the investment portfolio.
Types of NPF
To understand the principle of operation of the Lukoil-Garant Pension Fund, it is worth understanding the varieties of such organizations. There are several types of NPFs:
- Captive - the main work is the maintenance and formation of new corporate pension programs of the founders and their subsidiaries. In assets under management, pension reserves over savings have an advantage.
- Conditionally captive or corporate - their activity is also work with pension programs of their founding companies. Each time, the accumulation in the portfolio increases. Here the advantage is the attraction of pension funds, which are available in the program for corporate clients.
- Territorial - service is performed in one region or group of regions. These funds are founded with the help of legislative and executive powers.
- Universal or open - serve the population regardless of financial and industrial groups. Both individuals and legal entities can use their services. Pension savings prevail in the asset portfolio.
Lukoil-Garant
This NPF is one of the largest reliable state funds. It has been around for 23 years. The fund has been successfully operating with compulsory pension insurance since 2005. Today, 3.7 million people have entrusted him with the storage and accumulation of pensions. Lukoil-Garant is a private pension fund. He survived all the existing crisis situations with great success and did not violate any of the obligations to his clients. Payments have always been made on time, and now 70 thousand people are receiving savings.
He also works effectively with pension savings and is a leader among non-state pension funds. The goal of Lukoil is to maintain the social protection of citizens of the Russian Federation. To do this, he creates, maintains and increases the savings, which are focused on ensuring a decent pension in the future. The fund participates in state pension reform, reports and explains its work, participates in improving the literacy of the population, including youth, in the field of finance and society. He is also a contributor, thereby creating the basis for the long-term formation of the Russian economy, as well as to maintain its stability.
Investments of Lukoil-Garant
Fund investment policy provides a guarantee of income. To do this, you need to get the highest investment income with minimal risk. The purpose of the fund is to increase funds. In other words, capital additions above inflation. Its success depends on it.
Non-state pension fund Lukoil-Garant invests all the accumulated funds. He creates pension reserves only to be reliable, safe, liquid and profitable. It is based on the principles of rationality and integrity, a professional approach to management. The fund always informs about the investment process and reports on transactions with funds. Similar information is available on the Lukoil website.
All requirements for options for investment objects of pension accumulation and their reserves, as well as the purpose of investment are spelled out in investment declarations. This is an appendix to trust agreements. Risks, goals and methods are followed in accordance with the fund’s risk management policy.
All operations are carried out only subject to the rules, in accordance with the law. Funds are invested only in assets in accordance with Federal Law No. 111. The requirements for pension reserve options are also regulated by federal laws and government decrees.
Non-governmental Pension Fund Lukoil-Garant: Personal Account
What is there in it? In the personal account of the non-state pension fund Lukoil, the client can see his savings. You can also watch what news has appeared, file electronic applications for the provision of services, view your balance of the funded part, your voluntary contributions, use the online calculator to make pension payments, and you can also receive an extract on the status of your pension account and get advice from a fund representative .
Lukoil - private pension fund: customer reviews
Among the reviews you can hear about the literacy and professionalism of the foundation’s specialists. They clearly explain the pension system. Very high profitability of savings, letters are sent on time. Lukoil-Garant (private pension fund) is an official organization. All the necessary information can be seen on the site.
You can also, without leaving your home and using only a computer, conclude a pension insurance contract. Just send your data to pick up the contract from the office. Or a specialist will come to you on his own.
Lukoil-Garant Awards
Lukoil-Garant has diplomas and prizes. As well as the leadership positions assigned to him by Expert RA, a rating agency. The Fund is also awarded with such awards as the “Highest Reliability Rating” and two awards “Leader in the Compulsory Pension Insurance System” for 2012 and 2013.
The award “Financial Elite of Russia” was awarded in 2007, 2012 and 2016, as well as for the five-year period from 2005 to 2010. Another prize was awarded in 2008 under the name “Financial Olympus”. But that is not all. There are honorary awards for effective crisis management and the “Graf Guryev” award. Lukoil-Garant participated in the competition “Collective Investment Market” and deservedly won 1st place.
There are also two diplomas “For leadership in the OPS system” and “High reliability”. The Lukoil Fund has established itself as one of the best and most demanded in the pension insurance market. It is evaluated and awarded by various organizations. And most importantly, customers trust him. The staff here is competent and helpful.