Pension savings non-state pension funds (NPF) in the first quarter fell by more than 15 billion rubles. It is one of the largest declines in the volume of assets in the mandatory pension insurance (OPS). The result was affected by negative stock market dynamics, and customer care, and payments to insured persons. All this may further reduce the revenues of these funds in the variable and the constant part of remuneration.Pension savings generated in private funds 37.3 million Russians, for the first quarter of 2020 has dropped by more than 15 billion RUB (0.5%) and amounted to 2,807 trillion, according to data based on calculations of NPF “b”. This is one of the largest reductions of pension funds formed under the OPS, for the last time. More negative dynamics was observed only in the last quarter of 2018, when the number of NPF under sanctions devalued the problem of attachments that, among other things, led to a reduction in retirement savings by 2%.One of the factors in the current decline was weak transitional campaign. As a result, in the first quarter of the NPF came only 139 thousand people, and in the Pension Fund of Russia returned 105 thousand people. The positive balance for pension transitions were partially offset by one-time payments to citizens, released an early retirement, and payments to successors of deceased insured persons (see “Kommersant” on April 3). Taking into account other payments, and transfer funds to the reserve for OPS (ROPS) this led to the decrease in liabilities was split almost 5 billion rubles., up to 2,733 trillion. Another factor was the negative dynamics of the financial market. According to the Bank, after the collapse of OPEC oil transaction, as in the background distribution in the world and in Russia coronavirus infection in March, reducing the value of pension savings NPF amounted to 23 billion rubles. According to the reporting of major funds in the first quarter of noticeable positive results from investments showed only the NPF of the savings Bank, the income of which pension savings, according to “Kommersant”, was about 0.4%. The results of the rest of the NPF were either near zero or in negative territory.ROPS according to the calculations of the project Manager Pensopathology Eugene Basbanes was 87.1 billion rubles, exceeding by 7.5 billion rubles, the index of the beginning of the year. “In the first quarter the reserve was mainly formed due to the lost investment income of citizens as a result of early transitions for from the transition of the campaign,” explains Mr. Basbanes. However, these tools do not apply to the obligations of the Fund to clients, and insure their execution (in the financial statements they are accounted for as equity NPF). Thus, pension accumulation NPF in the first quarter was lower by 14 billion rubles, than the liabilities. This means that f��NDA will need to be restored in the next three quarters of investment result to earn returns for their clients, which depends, in part, a variable part of the remuneration funds.One of the possibilities of such a partial recovery investreality with further negative behavior of the financial market was laid in the easing of the Central Bank to private funds (see “Kommersant” on March 23). “In any case, the large reward funds based on the results of this stressful year to not count,”— says the managing Director of “Expert RA” Pavel Mitrofanov. According to him, under favorable situation on the market funds will be able to recover the results and to get their variable part, but its dimensions will be significantly lower than the very successful previous year. “In General, based on the current inputs, the client and the material base of the funds has already been formed, it will only be reduced by payments, and therefore funds will have less net profit due to both the variable and the fixed part of remuneration”,— concluded the expert.Ilya Usov
