NPF Evropeisky is one of the leaders in the financial market in the Russian Federation, with 1.8 million people becoming its customers. Carrying out activities to conclude OPS and NGO agreements on insurance of residents of Russia for 22 years, the European Pension Fund (NPF, JSC) does not hide reviews about the work of agents and payment of pension contributions - both satisfied customers and deceived investors are found on the Web.
From cash desk - to NPF
Initially, the fund referred to itself as the "Pension fund" and provided only pension services. Since 2012, the product line of NPF Evropeisky has been offering customers insurance and security services for all tastes: from the conclusion of standard OPS contracts to individual and corporate pension programs, including pension consulting, the implementation of maternity capital, and co-financing of pensions. The head office of the company is located in Moscow, but the company's geography captures other regional centers. Reviews about the European Pension Fund NPF are often found on the Internet - from a highly specialized institution accepting applications from employees of metallurgical enterprises, it has turned into a broad-based insurance company serving both individual contracts and corporate applications.
Fund partners
The key companies collaborating with the European NPF fund (feedback on their activities are known all over the world) are:
- Banks Otkrytie and Bin Bank (Otkrytie provides a current account for OPS-contracts, Bin Bank for pensions (NGOs), City Bank, European Bank for Reconstruction and Development, Renaissance Capital Bank ”,“ Credit Europe Bank ”.
- Western partners: Morgan Stanley (an American commercial bank, which is part of a large holding), Deutsche Bank - a German bank, a major international agent.
- The Russian leaders in the metalworking industry are the Chelyabinsk and 2 Ural tube rolling plants.
The owners of NPF "European"
Most of the company's shares, namely 30%, in 2012 passed into the ownership of the European Bank for Reconstruction and Development ”(EBRD). However, the bank's activity was not limited to the purchase of only 1/3 of NPF assets, and after the transaction was concluded together with the Chelyabinsk Pipe Rolling Plant, the financial structure bought another 25%.
Thus, firms began to own most of the assets of the fund (55%), which, on the one hand, developed constancy in the internal environment (when company owners change one after another, they bring along a new staff and followers, each of whom wants to send activity in its own direction)), and on the other hand, it destroyed the competitiveness of other firms to possess such an attractive financial institution.
However, this did not affect the feedback of those who transferred the NPF “Evropeisky” - in general, clients assess the activities of the legal entity as being steadily developing, but they disapprove of the ways of concluding insurance agent contracts that are not afraid to come home to potential depositors and ask convincingly choose their company as the final destination for the transfer of funded pension resources.
Rating of non-governmental pension fund “European” from “Expert RA”
If a company that is actively engaged in the sale of financial and insurance products to the population of Russia is not afraid to participate in the rankings of independent expert agencies, this already has a positive effect on the situation in the team and on reviews of non-state pension funds.
The European Pension Fund is one of the most striking examples of firms that take part in the rankings. The company was evaluated by three large agencies: Expert RA, Independent Rating Agency and RusRating.
“Expert RA” has the same meaning for banks and non-state pension funds as the press: the opinions of these “judges” of economic and insurance activities are not listened to only by organizations that do not want to have a stable client flow, and they don’t care what potential policyholders will choose their future. 2015 allowed the company to get the highest rating of stability and strength in the market of financial and insurance services - A ++. Firms that receive such a high score immediately become attractive to the public - since now customers are increasingly paying attention to the opinions of previous insured persons, which they leave on the Internet.
Having received a high score, “European NPF” was able to turn the feedback on its activities into the right financial direction - there were no complaints from the insured persons on the network that clients doubted the stability of the company or were not sure that their accumulations from employer contributions were in safe hands.
Independent RA rating is an important statistic for any non-state pension fund
And although the stability of the fund is not in doubt even among such influential analysts as the Expert RA teams, the Independent Rating Agency rated the company a little more modestly and assigned the fund only 15th place in significance among all NPFs of the Russian Federation in 2015, which, however, it didn’t have a big impact on creating the overall picture of the organization (“European NPF”, the reviews related to the financial situation in the market earned only good ones and they are proved by numbers, for example, 3.42% of the total market share and 11th place in terms of pension savings insured persons).
RusRating - an expert on Russian and international financial companies
The activities of NPFs were also evaluated by another influential analytical agency - RusRating. The company awarded the company in the domestic "arena" a stable indicator of profitability and strength - AA. But the international activity of the legal entity leaves much to be desired - in 2015 it was evaluated very modestly - BBB, which means a developing young organization that cannot guarantee 100% success in the world of insurance pension products.
But on the Internet about NPF “European Pension Fund” there are no reviews from customers from other countries - this is due to the minimum market share (less than 0.01%) and the number of insured persons, which in total do not exceed 2 thousand people.
And the company's policy is mainly aimed at attracting domestic customers - the flow differentiation will be small, but it is much easier for insurance citizens to convey the main advantages of moving to this private pension fund and conclude an agreement without waiting for permission from lawyers or eliminating bureaucratic nuances.
That is why the main share of pensioners and future recipients of benefits who have left reviews about NPF Evropeisky are Russians (99.98%).
Indicators of financial activity of a legal entity of JSC NPF “European PF”
It is not difficult to find customer reviews on the Network about the activities of NPF “Evropeisky” - the company is one of the market leaders and is actively concluding OPS and NGO agreements not only with a limited number of insured persons (for example, as targeted non-state funds obliging their employees working in this company on a voluntary-compulsory basis to transfer their savings to an adjacent or cooperating fund), and with a wide sector of clients - all citizens of Russia can transfer their pension contributions.
The number of contracts that are actively increasing due to the coordinated work of insurance agents has an impact on the business performance of non-state pension funds.
In 2015, more than 2,368 clients who entered into a compulsory pension insurance agreement and 1,921 non-state pension holders received pensions accrued by a non-state company. According to the results of the previous period, the total amount of funds that were used to secure their obligations to insured persons amounted to 49,319.04 thousand rubles under the OPS, and 15,586.29 thousand rubles for NGOs. This is an excellent indicator and affects the attitude of potential insured clients and the fact that depositors who have already concluded an agreement regarding the fulfillment of obligations by the European company (NPF) leave only positive comments.
The financial success of the European PF legal entity under the contracts of the insured persons who transferred the funded part of the pension in the company was consistently high: in 2015 the interest rate reached 13.63%. On non-government support, the results of the return in the European fund amounted to 15.64%.
According to statistics from ranking companies analyzing the financial part of the development of the fund, in 2010-2015. the amount of pension contributions of insured persons of a financial institution increased by 101.4%.
Reviews from those who know what they are talking about. What do fund employees think about their company?
Despite the fact that the opinion of the activities of any company that provides services to the public can only be objectively made by the client himself when contacting a legal entity, when choosing NPFs, citizens increasingly turn their attention to the feedback of the company's employees themselves. This is due to the fact that with a responsible attitude to the internal organization of work, the company ensures a friendly atmosphere in the team, and also affects the fact that insurance agents want to contribute to the development of the company, and are more actively involved in the technology of filling out contracts for social insurance and NGOs .
Work in NPF Evropeisky, reviews of which are posted on the Internet, does not differ much from the activities of agents in other non-state companies - both there and here the duties of the insurer include the active promotion of pension products, as well as consulting clients who have already transferred their pension accumulation in the organization. Often, they are forced to make apartment-by-apartment rounds, since the incoming client flow will not always be able to ensure 100% fulfillment of business indicators.
About NPF “Evropeisky” the reviews of employees who switched to another company are unflattering - some complain about wage delays, others complain about the escalating situation on the part of superiors who do not want to listen to the excuses of insurers who failed to attract new customers. But this does not mean that the internal atmosphere in the team is “lame” - the majority of workers are satisfied with their present place of work. It is hard to fulfill business indicators everywhere, whether it be banks or other financial institutions, and far from every company can afford to work in the office under comfortable conditions.
NPF "European Pension Fund" reviews employees who complain about the failure of the plan, takes into account only if their judgments are justified. At the same time, none of them claims to be 100% that this is the worst place to work - the company has created conditions for active sales, conducts trainings and training for beginners, makes concessions and is ready to support those who know how to promote insurance products. But, unlike banks and microfinancing, in all non-state pension funds it is more difficult to achieve an increase due to the less well-structured staffing structure - most of the staff is occupied by sellers, less than 5% of the whole team occupies leadership positions.
Those who see their future in an insurance agency or non-state pension fund should be prepared for the fact that without the seller’s skills to advance beyond the agent’s position is unlikely to succeed.
Customer feedback on the activities of the European Fund
A company such as the European Pension Fund (NPF, JSC) does not hide reviews on the Web about its activities - the privacy policy in banking and pension business has never been effective. On the contrary, potential insurers are extremely interested in getting the maximum awareness of the legal entity, which they see as the final point of transfer of their savings.
But not always full openness is an indicator of honest work. On the contrary, the activities of the fund, like many other non-governmental insurance institutions, alas, do not find support from more than 20% of customers. They leave unflattering remarks, in particular, regarding the fact that the “European Fund” (NPF) simply ignores the reviews of customers wishing to obtain a card for access to their personal account. This problem is a key complaint among other reviews of insured persons that they left on the Internet.
The second most popular item, which categorically does not suit customers, is a personal visit of agents. This method of selling insurance products is most popular with non-state funds, which, unlike banks, do not line up hundreds of customers interested in transferring savings from the employer. Rather, on the contrary, agents themselves are forced to look for clients using their databases and programs, but, unlike calling, which is easy for customers to refuse, a personal visit is the most effective way to sell OPS and NGOs.
NPF “European Pension Fund” takes customer reviews in case of refusal of the insurance product into account, but more stringent requirements are then imposed on insurance agents.
Among the positive aspects - quick access using a personal customer card, focus on European standards of service and timely qualified help desk support.
What awaits NPF Evropeisky?
Despite the fact that customer reviews differ on the activities of the European Pension Fund, the company has been operating on the market with obvious success and continues to develop its activities in concluding PSAs and NGOs agreements.
There is no need to worry about the fact that the economic crisis will be disastrous for her - the financial “pillow” will allow the legal entity to meet its obligations, and a steady increase in the number of customers will attract even more income to the company.