NPF Magnit

History

2020: Start of consolidation with NPF VTB Pension Fund

On October 5, 2020 NPF VTB Pension Fund announced the beginning of the procedure for accession of NPF Magnit. Reorganization began according to the decision of the only shareholder of NPF VTB Pension Fund made on September 30, says the company.

NPF VTB Pension Fund as legal succession will continue to fulfill all obligations to clients of the attached fund. Reorganization of funds will not demand renewal of agreements on mandatory pension insurance and non-state pension provision.

VTB the pension fund begins consolidation with NPF Magnit

Will be the cornerstone of activity of the joint fund the weighed investment policy and the maximum reliability. Clients of funds, as before, can be sure of reliability of placement of the pension means and of high quality of the rendered services — said in NPF VTB Pension Fund.

Sale of NPF Magnit took place in two stages: at first in February, 2019 "VTB the pension fund" purchased 80% of NPF from the founder of Magnit Sergey Galitsky for 380 million rubles, and the rest — at the end of the same year for 98 million rubles from operational "subsidiary" of Magnit — JSC Tander. Total amount of the transaction was 478 million rubles. Then VTB spoke about plans for consolidation of funds in 6-12 months.

As reported Interfax in the press service of VTB, the synergy from merge of the non-profit pension funds will consist in increase in the qualitative customer base of NPF VTB, cost reduction of funds at one client and also providing access to the staff of Magnit network to services, products and services of NPF VTB and all VTB Group.

By the end of August, 2020 NPF Magnit had pension savings in the amount of 14 billion rubles and 7.8 million rubles of reserves. The number of the insured persons performing formation of the pension savings in fund made 227.6 thousand people.^[1][2]

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