At the end of last year, the remuneration of the non-state pension funds (NPF) for the management of pension savings of citizens reached 60 billion rubles, a double increase in 2018. The funds carried for the account of clients just over 200 billion rubles of Compensation funds OPS are among the highest in the market of trust management that does not meet the mandatory status and conservative investment product, experts point out.By the end of 2019 for the management of pension savings of the variable remuneration (success fee) NPF amounted to 31,3 billion rubles, fixed remuneration (management fee) was 28.3 billion rubles this is evidenced by the Bank of Russia. In 2018, the total income of the NPF on the management of funds under the mandatory pension insurance (OPS) were almost two times less: success fee — RUR 12.6 billion, and management fee of 20.5 billion rubles (see “Kommersant” on 17 may 2019).18 March 2018 began to operate the new rules of payment of remuneration to SPC. Previously, the funds received only 15% of the earned investment income on pension savings. Now they got the right and on the management fee, which amounts to 0.75% of the average net asset value (NAV) at OPS. Of these funds, the NPF, in particular, to pay for services management companies and spectatorial. Also, the management fee includes payments to the reserve for OPS and Agency on insurance of contributions (0,149% of NAV).By 2019, managed to increase the reward, first of all, success fee, due to the fact that all NPF showed yield ahead of inflation, noted in the TSB. The size of the management fee, according to the regulator, increased by the background growth NAV (the amount of pension savings for the year increased to 263 billion rubles, to 2.86 trillion rubles), “as well as by differences in the basis for calculation: in 2019, the calculation of compensation was carried out for the full 12 months, while in 2018 — for the period from March to December.” While funds taken in the form of remuneration of 59.6 billion RUB was very close to the maximum allowed for the NPF (see “Kommersant” on 28 February). According to the calculations of Kommersant, the yield of NPF from investments to payments in 2019 amounted to approximately 10.5%. According to the NPF, the Fund at the end of last year the total smashed the bills of insured persons EUR 205.8 billion rubles. That is, their weighted average accrued on customer accounts yield amounted to 8.2% per annum (see Kommersant dated 16 April). As a result, the management entrusted to them by citizens, pension funds and funds seized from clients about 2.3 percentage points of investment income received.The planned yield of 5% (subject to investment in OFZ bonds.— “B”) — it’s just chocolate for the pension Fund, which wants, not really straining, to get the result for clientbased external spending NPF from their rewards PRadatsa for the services of management companies and spectatorial. According to the rating “b”, made on the basis of reporting funds, the total costs for asset management at the end of last year, slightly exceeded RUB 10 billion With more than 80-90% of the funds received, according to the funds themselves and independent analysts were in control of the company related to NPF (see “Kommersant” on 30 April). Services spacepaw cost less than 2 billion rubles. Other General and administrative expenses NPF, working in OPS, was also just above 10 billion rubles.”In the framework of the trust management market remuneration PSF OPS is one of the largest, comparable to mutual funds, considered to be the most expensive tool for clients,” says managing Director of “Expert RA” Pavel Mitrofanov. According to InvestFunds, the average remuneration for the management of most bond funds is 1.7% of the NAV, for the funds of the mixed investments of 3.6%. At the same time, according to him, the pension product, especially not voluntary, but mandatory, has a social function, which means that the interest must be “significantly more modest”. The expert stressed that the funds themselves are unlikely to impose upon themselves restrictions on the remuneration levied, by continuing to use to the maximum these limits, which are set by the regulator.Ilya Usawomen management fee is 0.75% of the net asset value (NAV), which goes to the capital Fund of pension accruals to the reserve for OPS (ROPS) are mandatory contributions. Since last years, the rate of 0.125% of the NAV of pension accruals with the exception of the funds of the reserve. In 2019, the NPF has invested in the ROPS 4.6 billion RUB In the end due to investment income and losses citizens pension savings due to early change of insurers, successors unconverted citizens over the money of the deceased insured persons, these reserves NPF at the beginning of the second quarter exceeded 87 billion rubles (see “Kommersant” on may 8). In addition, NPF, make contributions to the guarantee Fund of pension savings of the Agency for Deposit insurance. Until 2023, the rate for such payments is set at 0.025% of the NAV of pension accruals with the exception of the ROPS. At the end of last year, the APF has paid to the Fund of RUB 0.6 billion In the amount of 28.3 billion RUB permanent part of remuneration of RUB 5.2 billion made up of contributions to the insurance system. Ilya Usov
