Working citizens take care of their future retirement. They transfer contributions to the FIU, enter into co-financing programs or transfer to a non-state pension fund. One of the most popular non-state pension funds in Russia is the Sberbank fund. Millions of Russians entrusted their savings to him. Those who still doubt the choice of a non-state company, first want to know reviews about NPF Sberbank.
Information about a private company
NPF Sberbank in the private pension market for more than 23 years. During this time, more than 8.3 million people became clients of the fund.
The Fund, like Sberbank, bases its activities on the reliability and trust of depositors. A special feature of the subsidiary is the close connection of the fund to the activities of the bank. This is reflected in the conclusion of compulsory pension insurance contracts - OPS. They can be issued by a client at any office of Sberbank.
Until 2014, the conclusion of contracts would bring real benefits to clients upon retirement. But in 2014, a moratorium was imposed on the formation of the funded part of the pension in Russia, so all contributions automatically go to the insurance part. This also applies to NPF Sberbank.
The fund’s activities are transparent, the data is publicly available on the bank’s website. At the end of 2017, the NPF was recognized as the leader of the Russian sector in terms of the number of new participants and the amount of capital.
Fund Rating
In 2017, the company became the leader in the number of new depositors, their number in the period exceeded 8.3 million people. Citizens transfer their savings to an NPF account in order to gain confidence in a future pension. And NPF Sberbank guarantees depositors investment and decent co-financing.
In addition, the NPF is one of the leaders in the pension sector in terms of capital growth rate. Its volume is more than 470 billion rubles. Financial protection guarantees clients who are retiring that they will receive their savings + investment income.
Among the reviews on the funded part of the pension in the NPF of Sberbank there is a lot of information about the percentage of the fund. They are not the highest in the country, but they are far ahead of inflation over the past 10 years.
In 2017, pension savings of customers were invested at a rate of 8.34% per annum. Such investment deductions were given by NPFs at the conclusion of a compulsory pension insurance contract to those who received their savings last year.
Where can I get a compulsory pension insurance contract?
Customer reviews of NPF Sberbank showed that citizens are satisfied with the possibility of filling out an OPS agreement at the bank’s office. This is very convenient, as the additional offices of Sberbank are located within walking distance from each other.
In addition, you can connect to the insurance program on the Internet, on the website of NPF Sberbank. To conclude an agreement, you will need passport data and SNILS.
Features of the conclusion and termination of the contract OPS
The OPS contract is concluded for an indefinite period. It ends when the client reaches retirement age. After that, NPF Sberbank pays contributions taking into account investment for all years of the agreement.
The client can terminate the contract ahead of schedule by transferring all the savings back to the FIU or another non-governmental organization. Conclusion and termination of the contract are free. Upon termination earlier than 5 years after registration, the client loses all accrued interest.
Feedback on the transfer of funded pension to Sberbank private pension fund indicates that those who decide to change their non-state company are not recommended to contact another insurer earlier than 5 years later. If the condition is met, customers will receive their interest in full.
Customer reviews about NPF Sberbank
More than 8/10 investors are satisfied with the transition to a non-state company. And there are many reasons for this:
- NPF Sberbank is recognized as one of the most reliable funds.
- You can go to the NPF in almost every office of the bank, as well as get advice on the work of the company.
- The funded part of the pension is paid to 100% of depositors.
- The fund’s revenue growth rate annually outstrips the inflation rate in the country, which guarantees investors profit.
- Clients can always view data on the status of their account and savings in their personal account on the website of NPF Sberbank. Information is available around the clock and is provided free of charge.
Opinion of clients about retirement at NPF Sberbank
Positive feedback on pensions at NPF Sberbank is available at almost every major forum on the topic of pension savings. Information is provided from clients who have already received a pension, and those who are just about to become a pensioner in the future.
Sberbank investors like that they can write an application for the funded part of the pension at any bank office. But not everyone is happy with the process of receiving payments.
First, Sberbank provides 2 options for receiving contributions: a lump sum or in the form of an allowance to the main part of the pension. But the choice of the type of savings is not up to the client - the type of payment is determined automatically based on the amount of contributions. If it is less than 5% of the amount of insurance premiums, then the entire payment will be transferred to the depositor in a lump sum payment.
Secondly, in order to receive payment, the client must provide a full set of documents: passport, contract, account for crediting, an application for receiving the funded part of the pension and a certificate from the Pension Fund that he is a pensioner. Without at least one of these documents, obtaining a pension is impossible.
What does not suit clients at NPF Sberbank?
Negative reviews about the transfer of the funded part of the pension to Sberbank's private pension funds are also related to the speed of the company’s response regarding the payment of the pension. More than 1/3 of clients received money only 3 months after the application was written. Every 5th depositor has been waiting for accumulation for more than 4 months.
Reading the reviews about the NPF of Sberbank before transferring the funded part of the pension to the company, the depositors did not expect that they would have to wait for several months. Such a long decision-making is associated with a large number of requests and large amounts to be paid.
In order for investors to receive their savings, a special commission of the NPF must check their agreement on activity, calculate the percentage of investment for the entire period and compare the information with the data in the public domain - on the NPF website.
Negative reviews about NPF Sberbank JSC are often related to the work of employees who previously entered into contracts. Not all of them advised depositors on the refund process, which led to more than 50% of Russians having questions about retirement.
What else do clients say about the work of the fund?
Reviews of the funded pension at Sberbank's private pension funds are often related to the work of the support service. Customers note that there are no problems with the line: the service is provided around the clock, the communication channel is almost always free. But the competence of employees does not always suit subscribers who want to hear more information on their contract.
At the same time, none of the clients wrote a review about what the employees were rude: the quality of service of Sberbank remains very high. All customers are also satisfied with what conditions the product itself offers.Despite the fact that the fund has not the highest interest on investments, the company is notable for its reliability and loyalty to investors.
Reviews of NPF Sberbank on the Web contain information that customers are not always competent themselves in the work of the fund. Often, borrowers think that a non-state company will notify them of accumulations every month by sending SMS. According to NPF rules, information on the status of pension savings comes to customers once a year, in the form of a registered letter by mail. The client can check the rest of the data on the NPF website.
Foundation work after 2016: changes
There are many negative reviews on the Web related to a technical malfunction in the system. It was observed in the period from 2015 to 2016, when the NPF of Sberbank switched to the technology of automatically transferring the funded part of the pension from the PFR (without a visit to the Pension Fund branch).
Until 2016, after concluding an agreement at the bank’s office, clients had to come to the FIU and write a statement for the final transfer of savings to a non-state company. But more than 1/4 of the investors ignored this step. As a result, their contracts remained at the design stage.
Feedback on the transfer of a pension to NPF Sberbank in this case indicates that not all customers were informed about the need to visit the FIU after the conclusion of the contract. This is a minus in the work of Sberbank employees.
In 2017, there were practically no problems with the transition to NPFs, since the fund began to automatically transfer data after concluding a contract with a client. This has improved the opinion of citizens about the transition to a non-governmental pension organization.
Information about other fund offers
In addition to the compulsory pension insurance agreement, Sberbank customers can draw up an individual pension plan. This is one of the types of pension co-financing. Clients can apply for a service instead of an OPS, or together with an insurance contract.
An individual pension plan is an accumulation invested by NPF Sberbank. But, unlike the OPS contract, the client must make these accumulations independently. The depositor chooses the amount of contributions, for example, 1000 rubles per month. A selection of the frequency of payment of contributions is also available.
IPP is for a period of 5 years. But early termination of the contract is also possible. Reviews of the IPP NPF of Sberbank indicate that after 2 years a depositor can take all his savings and all investment income (without loss of interest). Information on the amount available to receive and accrued interest is located in the personal account of the citizen on the NPF website.
In addition, there are a lot of positive reviews on the NPF of Sberbank on the Web related to the return of the paid 13% on account of the IPP agreement. Thus, the state allows you to receive a tax deduction for those who have invested in co-financing a future pension.