Which pension fund to choose - state or non-state? Transition to a non-government pension fund

At present, there is a dilemma among conscious citizens: what is better - a state or non-government pension fund? On which one still to choose? Those and others enjoy incredible popularity, they are written about in newspapers, shown in television programs, told on the radio. Each individual citizen must decide for himself which pension fund to choose - state or non-state. The decision must be weighed and informed. And this is facilitated by a clear understanding of what this or that organization is.

The State Pension Fund

The reform of the pension system of 2002 has led many to bewildered. And even now, the question of which pension fund to choose - state or non-state - is still open to many. Some citizens decided not to change the management company and leave their savings unchanged. At this stage of economic development, as many political scientists say, any citizen who entrusted his savings to the state pension fund may remain without them. This is due to a higher level of inflation in relation to the calculation of interest for each past year. All pension savings are kept in Vnesheconombank. This financial institution is not responsible for the pension deductions of citizens, in the event of any losses. Many under the pressure of this very opinion carried out the transition to a non-state pension fund. Some even passed their savings to several organizations. After all, under the pension legislation, a citizen has the right to change the managing organization once a year.

But, in spite of this fact, no one on the planet will be able to give absolute guarantees that in a few decades a certain non-governmental pension institution will be able to pay the reimbursable amount to its clients.

Guarantees of the state managing organization

In turn, the RF PF imposes on itself the performance of several important functions, namely:

• Keeps records of the arrival of all insurance contributions;
• Determines the monetary equivalent of the pension benefit to each individual citizen;
• In the presence of any special circumstances, appoints the payment of social benefits;
• Maintain close relations with employers;
• Issues certificates for obtaining maternity capital;
• Is a participant in the state. Co-financing programs, etc.

What is the essence of the reform?

Proceeding from all the above, it can be concluded that non-state pension funds were created in order to facilitate the work of the state pension fund, namely, to minimize their costs and narrow the range of obligations to citizens. This reasonable tactical move made it possible to resort to a more rational distribution of funds between management companies, and also increased the percentage of profits in comparison with Vnesheconombank. In this case, which pension fund to choose - state or non-state? We will deal with the second option.

Non-governmental managing organization

At this stage, the number of these institutions tends to infinity. If the citizen decided to change the management organization, he faces the question of how to choose a non-state pension fund?

First of all, it is necessary to get acquainted with the rating of managing organizations. He will certainly help determine the choice.

The rating of the best non-government pension funds by profitability (the size of the future pension depends on it) is presented in the table.

Tasks of non-state pension funds

Such institutions are created in order to bring profit to their organization and increase the monetary accumulation of fund participants at the expense of the annual interest rate. In turn, such pension funds receive profits by acting as investors for accredited management companies by investing money in securities. Such a maneuver guarantees a higher rate of profitability of the client and provides at times a greater level of reliability of the enterprise.

Guarantees of non-state pension institutions

Provided the losses are incurred by the fund, compensation and payment of dividends to customers is carried out at the expense of the authorized capital. And Vnesheconombank evenly distributes losses among all depositors. And the interest rate of participants of a non-state pension institution significantly exceeds the inflation level of the country. This guarantees, in turn, a decent amount of pension when reaching retirement age. Therefore, if the citizen still has a question about which fund is better: state or non-state, one should take this fact into account. There is another advantage of these institutions. Under the condition of bankruptcy of a non-state pension fund, all customer funds are returned to the state pension institution. We can conclude that the client will never lose anything.

It should also be noted that, before the client reaches the retirement age, the size of his pension can change in one direction or another. Therefore, money can be received in the form of a one-time payment or you can make monthly payments. If the customer suddenly dies, then the next of kin have the right to receive money left on the client's account. This fact distinguishes favorably the non-state pension institution from the state one, which simply does not sanction such an action.

Transition to a non-government pension fund

When a person has realized all the advantages of non-state pension institutions and decided to become their client, he needs to follow such an algorithm of actions:

1. Determine the choice of specializing in mandatory pension insurance organization.
2. Verify the legitimacy of this organization, namely: compliance with the requirements of the law, the availability of a license and registration with the Central Bank.
3. To pay a visit to this non-governmental institution with the purpose of concluding an agreement.
4. Carefully study this contract, immediately find out all the questions of interest to the client.

The contract should contain the following items:

• Name of the institution, surname, name, patronymic;
• Calculation of accumulative resources, investment conditions, accrual and direct payment;
• Number of insurance certificate, date and place of birth of the client, his gender;
• Obligations of the client and the fund;
• Reasons for receiving a pension with accumulation of funds;
• Order, terms of payment (one-time, urgent);
• Algorithm for the delivery of pensions with savings and payment terms for the delivery itself;
• Responsibility of the client and the fund, provided that the obligations are violated;
• Algorithm for termination of the current contract;
• Conditions and procedure for resolving disputes;
• Details of the client and the bank.

Only in the presence of the above items this document on the transfer is valid.

Only with the most serious and responsible approach to the issue of how to choose a non-state pension fund, you can ensure a comfortable and happy old age.

Conclusion

Based on all of the above, you can easily answer the question of which pension fund to choose - state or non-state. The answer is obvious - the second option. After all, non-state pension funds have a lot of advantages over the state pension funds . But it is necessary to take into account the legislative changes taking place in the country, so as not to get trapped and be able to extract the maximum benefit.