The FIU manages funds received under the law of the Russian Federation as insurance of future pensions from the population. Moreover, the institution is a state structure, and all money is federal property. A non-state pension fund is not engaged in commercial activities, and its main tasks in the field of insurance include: pensions for people who are in the organization on the basis of agreements concluded with them; population insurance based on the signed agreements and guided by federal law. The differences between the FIUs and NPFs are that in the first case, the state is responsible for the movement of funds (almost everything is invested in the Central Bank of Russia), and in the second - several management companies at once, in addition, in the insurance process, they can be replaced based on the results of the reporting year. The only direction in which both funds work similarly is the OPS.
Legal grounds
The basic basis for the establishment of the Non-State Pension Fund is five federal laws and the official acts assigned to them:
- Number 56 “On additional insurance contributions to a retirement pension (funded part) and support in the formation of funds received at the state level”.
- Number 173 “On the Pensions of the Russian Federation”.
- Number 75 "On NPR."
- Number 111 “On Investments in Financing Savings in Russia”.
- Number 167 “On Pension Insurance with Mandatory Status in the Russian Federation”.
The validity period of the agreement of an individual with NPF
Non-state pension fund and the insured person enter into an agreement indefinitely. At the same time, its termination can be initiated in the following case:
- Three calendar months have passed since the license terminated.
- On the basis of the participant’s statement on the transfer of the entire accumulated amount to the Russian pension fund.
- Conclusion of an individual’s agreement with another non-state pension fund.
In addition, the funds of the funded part are transferred to the FIU in full if the non-governmental organization was liquidated or a person died before reaching retirement age.
Transfer of funds from one fund to another
In order to carry out the transfer of the funded part from the state structure to an alternative organization, several steps must be taken:
- Fill in the text of the contract with the new institution, your own data and in triplicate.
- Write a statement to the Russian Pension Fund about the transfer.
- Issue an insurance order.
When signing the agreement, an individual must have a passport and certificate of the OPS in the original and in the form of copies.
Why do we need a fund and its process of interaction with the population
Joining an NPF or PFR allows a person at working age to increase future payments. Each citizen will be able to choose for himself where his pension will be transferred, while the pension fund gives a chance not only to save, but also to increase the amount of savings.
After concluding an agreement with a non-governmental institution, all finances collected up to this time in the FIU are transferred to the new manager, who, in turn, invests them in securities or other economic instruments. The yield goes to the savings account of the insured person. Thus, the direct payment is made from a state organization, and the collected funds are paid by a non-state type pension fund.
What is the benefit of a legal entity
The Federal Law and the Insurance Rules of the institution regulate the division of total income into three parts:
- Creation of property providing the authorized activities of the company.
- Costs of investment and workflow creation.
- Payments to the savings accounts of insured persons.
Only fifteen percent of the yield can be spent on the second item, so the increased profit makes the non-state-owned pension fund develop its authorized capital.
This is what drives the organization to constantly upgrade infrastructure and achieve even greater reinvestment of funds. In the case of FIUs, the motivation to move forward is completely absent, and accumulation occurs in the long term.
The cessation of the functioning of NPFs. The reasons
The main reason for the liquidation of a non-governmental fund is the cancellation of an official license in connection with the following violations of the law:
- The total deposit amount is less than one hundred million rubles.
- There is no experience in controlling more than twenty thousand accounts of the active customer base.
- The license does not correspond to the type of activity the pension fund is engaged in.
In addition, the organization itself may file a request to terminate the agreement with the state and cease to exist.
Where funds go after liquidation
After the dissolution of the structure of a non-state company, the question arises sharply - where to look for the funds accumulated during the operation of private pension funds. They can be transferred to a similar institution in connection with the restructuring of the project (merger, division, accession) or to the Pension Fund of the Russian Federation. In the latter case, the entire funded part and investment income will be transferred within three calendar months.
Several legislative provisions, including the Federal Law and regulatory acts with a legal basis, guarantee the safety of the entire financial amount of pension investments. According to the totality of all decrees, it is impossible to lose funds during the liquidation of a non-governmental organization. The exception is the situation when an individual on his own initiative wants to terminate the agreement. In this case, the insured person may lose some of the savings.
Co-financing
Federal law No. 56 entered into force in 2008 after consideration by all authorities. It stipulated the possibility of the insured person to invest additionally in his own savings. At the same time, the state increases in proportion to the amount of contributions for one year. For example, an individual contributed ten thousand rubles from his own earnings for the reporting period to a non-state fund, they instantly double.
Citizens who have reached the retirement age, but continue to co-finance, receive several preferential offers. Suppose, working further without applying for a pension, a person can be sure that at the end of the calendar year his payments will increase exactly four times, but not more than a fixed amount of forty-eight thousand rubles.
Any citizen of Russia can make a choice in favor of an NPF or PFR. In the first case, profitability increases, and in the second, the stability of functioning is the main advantage.
