Non-PF proposed amendments to the concept of pension capital

© RIA Novosti / Vladimir Travelagency. Archival photoNon-PF proposed amendments to the concept of pension capital© RIA Novosti / Vladimir Trefilov

Association of private pension funds (ANPF) 26 Jun sent to the relevant agencies the draft amendments to the concept of individual pension capital (NCI), reported in a press release ANPP.

«On June 26, 2017, the Association of private pension funds sent to the Bank of Russia, the Ministry of Finance and all self-regulatory organizations of the financial market the draft amendments to the concept of individual pension capital (PKI)», — stated in the message.

The project includes more than 20 proposals for improving the reform of private pension provision. It was approved at the Council of SRO on June 22. It is noted that when the members of ANPP supported the initiatives of the Bank of Russia and Ministry of Finance for preservation of the savings element of the pension.

Explains that the amendments concern procedures for autopages, procedures for the distribution of new participants in the system, the ratio of corporate pension programs, the administration of the Central registry and other provisions of the concept of IPK. In particular, ANPP proposes autopages with a cooling period of one year during which the insured person will be able to transfer your funds to the Pension Fund of Russia (PFR), abandoning the storage element.

In addition, it is proposed to adjust the order of transition of the pension system participants from one Fund to another. According to the Association, in its present form is a high likelihood that citizens will become confused in their accumulated pension accounts. It is reported that they should contact their current insurer.

The Association suggests the Central Bank and the Finance Ministry to hold a joint working meeting with representatives of the leading shareholders of the NPF, and also include representatives of the SRO ANPP the working group on drafting the bill.

Source