525.9 billion rubles will be allocated to non-state pension funds in 2015

UFA, 3 December 2014. /Bashinform News Agency/. Pension savings in the amount of 525.9 billion rubles after January 1, 2015 will be directed to private pension funds. The relevant law was signed by Vladimir Putin.

The legislative act clarifies the transfer of funds from the Pension Fund of the Russian Federation to the private pension funds not included in the system of guaranteeing rights of insured persons, in cases where the insured person (successor) addresses to the pension fund for granting the funded pension (pension savings).

Fore reference. Since 1 January 2015, a system of guaranteeing the rights of insured persons will become operational. Private pension funds will become members of the system in 2015. The new law clarifies the transfer of funds to management companies of the pension savings in 2013 and 2014, which were not directed to private pension funds and management companies in 2014 due to the fact that private funds were to change their organizational and legal status and join the system of guaranteeing the rights of insured persons.

The system of registration and licensing of private pension funds was introduced in order to avoid fraud.