Wanting to increase the size of their future retirement, many clients turn to private pension funds. But the conditions of companies do not always suit them. In order not to lose their savings, trusting an unreliable insurer of private pension funds, you need to make the transition from private pension funds to the Pension Fund.
How can I return my funds to the Pension Fund of Russia?
Do not worry about whether it will turn out to return their savings back to the state pension organization. Money that was transferred in the amount of 6% of the funded part will not be lost upon return from a non-governmental fund. In this case, the return can be made the next year after the conclusion of the contract.
A citizen can return funds by transferring from an NPF to a Pension Fund in any of the branches of the Pension Fund, having previously applied there with a passport, SNILS and the compulsory pension insurance agreement (OPS).
How fast is the money returned to the Pension Fund of Russia?
The conclusion of the OPS agreement occurs within a year after writing the application at the company’s office. The transition from NPF to PFR also takes at least 1 year. Such a long period is due to the fact that after the application is created, the client’s funds are transferred first from the employer to the PFR account, and then to his individual account in a non-state fund. This takes time, as does the processing of data in the Pension Fund and a non-state company.
It doesn’t matter when the funded pension insurance contract was concluded. The client will be notified of the change of the insurer only after the first quarter of the billing period following the date of execution of the contract.
This means that the final transition from the NPF to the FIU will only be achieved in the spring of next year, even if the application was signed at the end of December. It is impossible to change the terms of the contract.
Urgent transition from NPF to PFR: is this possible?
Many NPF clients are interested in whether it is possible to quickly return accumulations to the FIU? There is no such thing as an urgent transition from an NPF to a Pension Fund in pension provision.
The only option that allows the client to quickly withdraw their funds from a non-state company and transfer it to the PFR account is the cancellation of the contract due to a system error or client’s refusal within a few days from the moment of its conclusion.
If the data has not yet been transferred to the FIU, then the pension savings will remain in the citizen's account. This is the so-called early transition from NPF to PFR. In the event that the money has already been transferred to the account of a non-state company, it is impossible for the client to force transfer it to the PFR. You will have to wait until the application for a refund is considered and a decision is made on the transfer of savings to the individual pension account of the client in the state fund.
Customer Losses When Returning to a State Company
It is easy to return your savings back to the Pension Fund . But at the same time, the investor risks losing part of the funds. This does not concern his contributions, which are calculated from the salary of the employer, but the percentage of the fund.
The amount of investment depends on the profitability of the company. If the fund’s activity was successful during the billing period, on the NPF’s website in the personal account, the client could see how much interest was accrued to him by a financial institution.
In case of zero or unprofitable activity, the column "Investing" will be empty. Such funds often lose their Central Bank license and cease operations. And for customers, this means losses during the transition from NPFs to PFR.
In order to get the maximum income and return to a state organization without prejudice, it is recommended to make the transition no more than once every 5 years. It is during 5 years that all client’s investment contributions are saved, so he can return to the FIU or transfer to another company, listing all the savings taking into account capitalization.
The procedure for transferring pensions from NPFs to the Pension Fund
To become a PFR client again, you need to do the following:
- come to the PFR office with a passport and SNILS. If there is a compulsory pension insurance contract, it is recommended to take it with you;
- write a statement on the transfer to a state company;
- wait for a decision and notification of the return of funds back to the account of the FIU;
- come to the department a year later to check the result or receive a notification using the State Services portal.
Illegal transitions to non-state pension funds: what is it, the actions of investors
In the Pension Fund there are no problems with the return of citizens' funds to the company account. On the contrary, the FIU is extremely interested in having citizens again transfer funds to the insurance part, from which contributions are paid to existing pensioners and beneficiaries.
But there are cases of illegal transition to NPFs: how does the FIU allow this? Customers who received a notification that their funded part of the pension is on the account of a non-state pension fund without their knowledge are very surprised at this. But customer funds cannot be transferred to the fund account without the knowledge of depositors.
Unfortunately, the transfer of clients to non-state pension organizations under duress is still encountered by some employers. They force workers to write applications to the NPF for allegedly voluntary transfers of funds or quietly slip their signature papers at the time of enrollment.
Another option of coercion is the illegal verification of SNILS data. Under the guise of PFR employees, NPF employees go to apartments and offer to check SNILS or take part in a “survey”. Under any pretext, having received the client's passport and SNILS number, they take photos, which they then use to conclude a compulsory pension insurance agreement.
Trusting customers do not always recall these cases when they receive a notification from a non-state company. In order to quickly return the funds back, they must make the transition from NPFs to PFR.
Application for funds transfer: features
To return to the Pension Fund of the Russian Federation, a citizen must write an application for transfer to the fund. The fastest way to do this is with a personal visit to the department of the fund.
Switching from an NPF to a Pension Fund through the State Service or another official source is temporarily unavailable, but with the help of a website account a citizen can apply for a service ticket.
The application for a refund must indicate the name of the recipient organization. In this case, it will be the territorial authority at the place of registration of the client.
Next, indicate the purpose of the application - the return of the funded part of the pension to the Pension Fund account. This is at the same time termination of the OPS contract with a non-state company.
The client must also sign and date the application is written. When filling in the data at the PFR office, an application for transfer from NPF to PFR will be proposed by an employee of a state organization. It will be enough for the client only to enter their data.
How much is the application processed?
After a citizen decided to return his savings and wrote a statement to the Pension Fund of the Russian Federation, it is sent for verification. The review period takes up to 30 days.
If all the data is entered correctly, then after this period (or earlier) the client will receive a notification that his funded pension will soon be returned to the PFR account. The information will be sent as a message to the number indicated by the client. In addition, after the specified period has elapsed for the transfer of the funded part of the pension, a registered letter will be sent to the personal account of the client of the Pension Fund of Russia with information about the new insurer - the PFR.
Customer reviews on the transfer of the funded part of the pension to the Pension Fund
Citizens who decide to return their savings to a state company do not always respond well to the work of the FIU. One of the reasons for negative statements is that funds come with a delay.
Data that they must return to the personal account does not come after the 1st quarter of the reporting period, but after 1.5-2 years from the date of writing the application.
Other customers are unhappy that their application has been tested for a long time. After 30 days, they did not receive an answer as to whether the funds would be credited back to the Pension Fund account. At the same time, they saw their savings in their personal account on the NPF website. Employees of the FIU are not always competent in the issue of refunds and loss of interest. The network has many reviews in which customers complain that they were not told about the losses when returning money earlier than 5 years after the conclusion of the contract. As a result, they lost all their savings, although a little less than a year remained before the end of the term.
What to do if a refusal arrives?
Sometimes, when considering an application, customers are denied the transfer of funds to a state-owned company. This is very rare and most often associated with a technical malfunction on the PFR website. But if the reason is not related to technical problems, it is recommended that you re-write a statement on the transfer of funds from NPFs to PFR.
Fund employees will not refuse to resend the application. It is also recommended that you bring along all the necessary documents, even if copies of the certificates were left with an employee of a government agency.
Sometimes problems are associated with changing customer data. If the name or surname has changed in the process of transferring funds, then the information received from the NPF may be regarded by the system as erroneous. For this reason, the client may refuse to return the funded part of the pension.
If such a problem occurs, you should contact the fund employee and provide relevant data to replace the information. It is possible that it will be necessary to re-compile an application for a refund from NPF. At the same time, the investor should have both old and new data with him for the correct identification and correction of the contract.
Who can apply for a refund?
It is allowed to transfer for proxies if there is a corresponding document, for example, a notarized power of attorney. But you can not write a statement from a third party. For example, spouses are not able to represent each other's interests in this regard. Close relatives without a power of attorney also do not have the right to sign for other citizens.