Sep 15, 2020
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NPFs may prohibit attracting agents to transfer pension savings

The Government of the Russian Federation has submitted to the State Duma a bill prohibiting non-state pension funds (NPF) from engaging intermediaries to conclude agreements with citizens on the transfer of pension savings.

It is noted that a person can change the organization that manages his pension savings - the Pension Fund of Russia (PFR) or a non-state pension fund - once every five years. Moreover, if he does it more often, the income accumulated after the previous transition is lost.

The law obliges to warn citizens about such a risk. However, agents who work for non-state pension funds often neglect this responsibility. - quotes RIA Novosti appeal of the Cabinet.

This leads to the fact that the Russians are suffering losses. To protect savings, the bill prohibits the involvement of intermediaries between insured and non-state pension funds.

Now, if a person wants to submit an application for the transfer of savings, he will have to do it personally or issue a notarized power of attorney. All other methods of informing about the fund change are planned to be prohibited.

Earlier reported that the ideal size of the pension that Russians would like to receive is 59 thousand rubles. In their opinion, it is this amount that will provide them with a decent life in adulthood, according to a study by NPF Sberbank. However, not everyone expects benefits from the state. Approximately one in ten of those who, in principle, makes savings, prefers to independently save money for old age.

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