Rus News Journal

The state Russia against not state Russia

Pension accumulation of citizens have appeared a subject of illegal frauds from not state pension funds which have acquired in the beginning of pension reform the right to operate by state means. The Federal Agency of the financial markets (FSFR) cancelled the licence of one of the largest NPF in the market of obligatory pension insurance - Russia . The fund used schemes with independent placing of pension accumulation more than 300 thousand citizens bypassing the legislation supposing investment of means only through management companies. Cancellation of the licence of so large fund and character of the claims shown to it are unprecedented for the Russian market.
that FSFR cancelled the licence of not state pension fund Russia have told the sources close to fund. Head FSFR Vladimir Milovidov has confirmed this information. As he said, licence cancellation has followed after activity check Russia Audit Chamber with the assistance of FSFR. Mister Milovidov has specified that all as a result of check 12 infringements have been revealed, each of which could become an occasion to licence cancellation. However independent placing of pension accumulation became the cores.

under legislation NPF is obliged to invest the pension accumulation of citizens involved in the market through management companies with which at fund the contract is concluded. in this case a part of accumulation NPF itself placed on deposits in bank - mister Milovidov speaks.

The scheme of placing of deposits also deserves steadfast attention, head FSFR considers. As he said, at checking there are suspicions that further the related management company of fund - " used these means; AG the Capital . NPF placed a part of accumulation on deposits, and after a while in the same bank the management company obtained the credit for the sum similar to volume of means placed by fund - mister Milovidov has told. As he said, such mechanism demands additional studying. A source familiar with check materials, asserts that in the contract of trust management which NPF concluded with AG the Capital there was a point that the transferred companies of means can represent itself as maintenance under credits that is forbidden by the law. Chief executive NPF Russia Sergey Fajans has declared yesterday that to tell to it about it there is nothing . About the reasons on which at us cancelled the licence, I learn from you - the mister has declared Faience to the correspondent .

NPF Russia Has obtained the licence for the right of conducting activity in sphere of not state provision of pensions in December, 2000. In 2004 the fund has acquired the right to work on the market of obligatory pension insurance and to involve pension accumulation of citizens. On volumes of pension reserves Russia occupies only 112 - e a place in the list of the largest NPF. However, as a principal view of activity for fund obligatory pension insurance always was considered. Clients Russia are 347,2 thousand persons (the fourth place), and under management is 2,24 mlrd rbl. of pension accumulation (the ninth place). Founder NPF - Joint-Stock Company AG the Capital .

Check NPF Russia the Audit Chamber spent in March. About preliminary results of check already informed (number for May, 7th) see. Then in FSFR noticed that has been as a result revealed It is a lot of infringements the main thing from which was raznesenie losses under accounts of clients . Losses have resulted from investment of pension accumulation in 2008. About illegal placing of pension accumulation without participation of a management company neither in Audit Chamber, nor in FSFR did not speak. A source familiar with a trial course, explains it gravity of infringements of the legislation which it was necessary to prove carefully . The interlocutor adds that Audit Chamber initially recommended FSFR to cancel the licence Russia .

Participants of the market notice that NPF Russia already was on the verge of licence withdrawal. Discrepancy of fund to the minimum licence requirements regarding an estimation of property for maintenance of authorised activity (IOUD) became the reason of it. If for October, 1st, 2008 IOUD fund made 46,4 million rbl. That already as of January, 1st this indicator was not only below licence requirements, but also it has at all appeared negative - 11,8 million rbl. However then any sanctions has not followed. By a following accounting period, on April, 1st, 2009, NPF has finished IOUD to 62,4 million rbl.

NPF Russia became the largest fund at which FSFR cancelled the licence. Since 2007 the regulator cancelled licences 63 NPF, however only seven of them had a possibility to work with pension accumulation, and the quantity of clients in these funds did not exceed 200 persons. till now so strict measures were accepted concerning the funds, actually doing not conduct the vigorous activity - president NPF of the Savings Bank Galina Morozova speaks.

All insured persons, which pension accumulation were in Russia by automatically uniform register will be translated from this NPF in the Pension fund of Russia and will receive the status Taciturn persons . To 11 thousand the clients who have concluded contracts of not state provision of pensions (NPO) with Russia the fund should pay the redemption sums.

clients of fund while translating from Russia in PFR should not to suffer, the mechanism of transfer of registers is debugged also difficulties will not arise - the chairman of the board of the First national pension fund Vitaly Plotnikov speaks. However, he marks, the fact of that one of the largest retail NPF is punished for illegal operations with accumulation of citizens, casts a shade on all this market .