The future of NPF

NPF FUTURE JSC (formerly OJSC NPF BLAGOSOSTOYANIE OPS) is a non-state pension fund operating on compulsory pension insurance and non-state pension provision.

Owners

NPF Future at the beginning of 2019 was the fourth largest Russian fund for obligations to citizens under OPS. In 2018, the financial group of the same name (FG), which included NPF, passed for debts from O1 GroupBoris Mints to the Cypriot offshore Riverstretch Trading & Investments (RT&I), which at the end of 2018 sold 49% of the shares of the flagship investment company fund (IC) Leningrad Adagio, owned by the Cypriot offshore WHPA majority shareholder of the Region group of companies Sergey Sudarikov. At the beginning of 2019, due to the additional issue, the investment company increased its share to a little more than 50% of the authorized capital of the NPF.

Performance indicators

2018: Record losses on pension savings (-12.6%) and customer outflow

One of the largest Russian private funds of NPF Future in 2018 posted record losses on the accounts of its 4.5 million customers: the pension savings of citizens forming their future pensions in this NPF decreased by 12.6%, according to the fund's reporting data according to industry accounting standards (OSBU). This is the second year in a row when Future reduces its obligations under compulsory pension insurance (OPS) to customers. In 2017, he posted a loss of 4% on the accounts of insured persons.

In the published reports of NPF Future, it was recorded that at the beginning of 2019 for assets worth 21.2 billion rubles. (7.9% of total assets) there was a violation of the rules for investing pension savings, another 55.5 billion assets (20.7%) the fund needs to get rid of by July 1. The actuary also recorded a deficit of 30.6 billion rubles. Against the background of financial problems, NPF Future has already faced outflows of the client base. According to the results of the transition campaign of 2018, 170 thousand people decided to leave the fund.

However, as stated in the reporting, the management of the NPF hopes that the new majority shareholder will continue to "further support the fund to ensure" its obligations. It is also noted that "the key goal of the strategy" of NPFs is to reach "positive profitability already in 2019." Earlier, a Kommersant source close to Future also expressed the hope that the fund would end this year with a positive result.

History

2022: The court recovered 7.3 billion rubles from the fund

On March 5, 2022, the Moscow Arbitration Court recovered 7.3 billion rubles from the main asset of the Region Investment Company of the Future Fund.

2017: The beginning of problems after the reorganization of Otkritie FC Bank

NPF Future faced financial problems back in the second half of 2017 after the Central Bank reorganized Otkritie FC Bank (BCFO) in August of the same year. The fund was both a shareholder of the BKFO and a bondholder of the previous main owner of the bank, Otkritie Holding. NPF was also seen investing in the same assets with other pension funds that were part of financial groups concentrated around a number of banks. In addition, Future actively invested future pensioners in projects related to its owner. Most of these investments have failed. According to the results of the first half of 2018, the FG itself, which owned the NPF, indicated that "investments in a number of assets related to O1 Group projects," including Prime Finance and Risland default bonds, led to negative results from investment activities.

As a result, FG Future, which accounted for 88.4% of the assets of the funds included in the group, indicated in the statements that assets worth 27.7 billion rubles. at the end of the second quarter did not meet the current requirements. In addition, its NPF needed to get rid of assets by another 40.7 billion rubles until mid-2019.

2016: Association with NPF StalFund

In March 2016, NPF Future was merged with NPF StalFund.

2015: Renaming as NPF Future

In January 2015, the DIA included OJSC NPF BLAGOSOSTANIE OPS in the register of participants in the system for guaranteeing the rights of insured persons. In June 2015, the fund was renamed NPF FUTURE JSC.

As of 30.09.15, the amount of pension savings in the fund exceeds 221 billion rubles, pension reserves - 4 billion rubles, the number of insured persons - 3.5 million people. It has a reliability rating Expert RA A + "Very high reliability."

2014: NPF Blagosostoyanie OPS was formed and its sale to O1 Group

It was founded in 2014 under the name of OJSC NPF Blagosostoyanie OPS as part of the allocation of NPF BLAGOSOSTOYANIE activities under the OPS to a separate joint-stock fund. In December 2014, O1 Group acquired a 100% stake in the fund.