Savings part of pension in Sberbank: reviews

The formation of pension savings should be approached wisely. Therefore, before you sign documents, it is worth exploring the history of the company in detail and finding out the conditions for investing. Accumulation of funds can only deal with public or private PF. More detailed information about the conditions for servicing the funded part of the pension in the Savings Bank, read on.

SPF SB

Sberbank is the largest financial group in Russia, which includes not only a credit institution, but also an NPF. The latter was established in 1995. The license to carry out activities with pension savings was received only in 2009. The Fund provides such services:

1. Non - state pension provision for individuals.

2. Insurance for such compulsory programs:

• Investment of accumulated funds;
• Payment of one-time, periodic or lifetime benefits;
• Co-financing of savings under state programs.

The National Rating Agency awarded the Fund with the highest rating of "A ++". The financial results of the organization's activities can be found on the institution's website.

In 2013, the number of citizens who transferred their savings to the APF SB amounted to 1 million people. And after a year and a half, this figure doubled. The total amount of savings in 2013 is 72 million rubles. The total return on investments for the previous 4 years was 52%, the average inflation rate was 33.88%.

Conditions

The accumulative part of the pension in the Savings Bank will bring more income, as the organization's capabilities are somewhat wider, in comparison with other similar institutions. To transfer funds to APF, you need:

• Apply to the branch of the organization with a passport and SNILS;
• To sign the pension insurance contract (OPS);
• Write an application to the state PF about the transfer of funds to a private fund.

Documents are accepted until December 31 of each year.

Payment of benefits through the Savings Bank

Transfer of the funded part of the pension to the APF can be done once a year. Having chosen Sberbank as an accumulation fund, the client can count on the fact that he does not have to stand in line waiting for another payment. All funds can be transferred directly to the card of the Savings Bank. For registration of the service it is necessary to apply to the department with a passport and ID, fill in a special form, get payment details and notify the PF about the transfer of labor pension for new details. After that, customers can cash out funds through any nearest ATM, view the balance on the Internet, set up sms-alerts on the movement of amounts on the account opened by OJSC Sberbank of Russia.

The accumulative part of the pension is questionable

In 2015, a lot of disputes caused the government's desire to abolish the accumulation of deductions. According to the Ministry of Finance, this measure will bring the budget revenue of 370 million rubles. Per year, but then the source of "long" money will disappear: NPF and Vneshtorgbank, which manages savings on behalf of the state, invested 3 trillion. rub. In domestic companies.

The economists immediately panicked. The abolition of the funded part would lead to a reduction in the replacement rate of up to 25% in 10 years. The insurance pension is indexed at the expense of budgetary funds, which by 2018 may not be enough. As a result of such a reboot, the amount of payments to pensioners will be reduced. The FIU is no longer coping with the load. Half of the payments are financed by the federal budget. The difficult demographic situation in the country, the early retirement of Russians (55 and 60 years against 63-64 in the EU countries), as well as the high share of the shadow economy only increase the burden on the APF. This means that the transfer from the federal budget will also grow.

Arguments

The only reason for making changes can be a negative real return on investment. Over the past 5 years, Vneshtorgbank's profitability was 28.9%, and the inflation rate - 46%. Constant crises in the country only aggravate the situation. According to the comments and reports of sociologists, people do not trust APFs and change them one by one every year. As a result, organizations have to revalue assets. Invest in the long-term projects they simply do not have the opportunity.

Citizens began to worry that the government wants to stint on their future incomes. But economists assure us that this is not so. The accumulative part, which is formed within 6%, will be sent to replenish the insurance payment. Russians only need to contact the PF branch and write a statement on the transfer of funds. One of the organizations into which the accumulative part of the pension can come is Sberbank. Clients' feedback confirms that sometimes even with such simple procedure they have problems. Applications are considered for a very long time, and money sometimes does not arrive on time.

Structure

Many people still do not know exactly how the future pension is being formed. The formula looks very scary and incomprehensible. But it's worth understanding. It consists of three parts:

• The insurance part is formed at the expense of monthly deductions from the salary (С);
• The basic pension that a person will receive in any case, if he has worked at least a little (B);
• The accumulated portion is 6% of the salary (H). This amount a person can dispose of independently, choosing an organization that will collect funds. It can be an asset management company (MC) or an APF. You can, for example, transfer funds to Sberbank. Transfer of the funded part of the pension is made directly to the branch of the credit institution.

These three terms are then multiplied by special coefficients, which depend on the length of service, the amount of salary and other nuances. As a result, the formula has the following form:

Pension = K1 x B + K2 x C + K3 x N.

The government proposed to change the coefficient of the third term to "0".

As the reviews say, not all Russians have a funded part of their pension in the Savings Bank or another APF. There is a category of citizens who preferred not to transfer funds from Vneshtorgbank. At such "silent" the government can transfer a memory part of pension in insurance. As a result, deductions will increase from 16% to 22%. The total size of the pension will also change, but not necessarily in a smaller direction. This is the essence of the new reform. So far, it has been rejected. But, perhaps in the future the issue of its adoption will rise again.

Main maintenance problems

On the forums, you can find a large number of complaints about the lengthy procedure for processing documents. If a person wishes to transfer funds from the state to a private PF or the Criminal Code, he must write an application to both structures by December 31 of the current year. Upon completion of the process, a notification is sent on the amount of the written-off and received funds to the personal account in SPF Sberbank. The accumulative part of the pension, the percentage of deductions for which at the moment is 6%, should be transferred until March 31 next year. But user reviews say that these terms are often violated. Here you can advise only one thing: after the time has elapsed, call both organizations and find out what happened to the money. Judging by the comments of pensioners, there are no less problems in the case of transfer of funds from Sberbank to another APF. Here the same rule applies as in the previous condition. The funds must be transferred by March 31 next year. So, if the client has submitted an application in April this year, he will have to wait 11 months.

According to the financial statements, the average annual profit level of the Pension Fund of the Security Council is 5-6%. But there are a lot of investment programs for the fund, and it is not a fact that all of them will bring profit. In addition, physical persons often change APFs. Such savings can not be invested on a long-term basis by the accumulative part of the pension in the Savings Bank. The responses of the Russians confirm that, based on the results of 2011-2012, the return on savings was 0%. The dissatisfied population in those years massively transferred funds to other APFs.

Savings part of pension in Sberbank: customer reviews

Analyzing the comments of Russians on the quality of services provided and the level of accessibility of information, it is possible to single out such main advantages of cooperation with the organization:

• The minimum package of documents. To conclude a contract, you need only a passport and an SNILS.
• Speed of registration. The client can write an application in any of the nearest branches of the bank. A few days later, the staff will call back and set the time for signing the contract.
• Access to the information. The balance of the account can be viewed through the "Personal Account" on the NPF website.

Disadvantages (judging by the reviews of the organization's customers):

• The time of preparing a certificate of investment results is 30-60 days;
• Frequent technical failures in the system;
• NPF SB works, though profitable, but does not hit records of profitability.

Conclusion

Russians can choose independently which organization will be engaged in accumulating the funded part of their pension. One of the largest APFs in the country was established by Sberbank in 1995. As of 2013, 1 million Russians trusted him with their pension savings. The institution functions profitable. The opinions of clients on the organization's activities leave much to be desired. Most customer complaints are related to a long period of receipt of statements on the results of investing funds and a lengthy procedure for processing transfers from one APF to another.