Welfare of NPF
Russia
Central Federal District of the Russian Federation
Moscow
127006, M. Dmitrovka, 10
Top managers:
Milyukov Anatoly Anatolyevich
Content |
Non-profit organization Non-state Pension Fund "Blagosostoyaniye" (NPF Blagosostoyaniye) works at the market of pension services. An exclusive type of activity of fund is non-state pension provision of fund participants.
NPF Blagosostoyaniye — one of the largest funds working on the non-state pension provision (NSPP). As of July 1, 2018 its assets were 390 billion rubles, and on this indicator the fund took the fourth place among the Russian NPFs. The number of participants of Blagosostoyaniye exceeds 1.3 million people at this time, conceding only to NPF Sberbank. The largest investor of fund is the Russian Railway which creates in it the corporate program for the employees. For the first half of the year 2018 contributions of the Russian Railway made 11.6 billion rubles, or 88% of total amount of the contributions which arrived for this period.
The regional network of fund includes 72 structural divisions (data for July, 2018).
History
2019: An exit from Maxima Telecom
On October 16, 2019 TAdviser knew that the NPF Blagosostoyaniye management company (MC) left the operator of Wi-fi networks in the subway of Moscow and St. Petersburg Maxima Telecom. Read more here.
2018
Transition under control of Gazprombank
One of the largest non-state pension funds (NSPF) "Blagosostoyaniye" passes under control of Gazprombank (GPB). On August 24, 2018 the meeting of council of NPF Blagosostoyaniye at which the decision to enter into the list of founders of fund two banks — GPB and RSHB was made took place. According to two sources of Kommersant familiar with decisions of council, after incorporating fund the share of GPB in its capital will make 50% plus 2 actions, RSHB — 25% minus 1 action. The share of the present largest founder of fund — JSC Russian Railway — after incorporating will be reduced to 25% minus 1 action. According to one more interlocutor of Kommersant, the decision on incorporating fund will be made at the next meeting of council of Blagosostoyaniye.
At this time the fund exists in the form of NPO and until the end of 2018, according to requirements of the legislation, should undergo incorporating.
Sources of Kommersant claimed that JSC RZD had problems with incorporating corporate NPF. The monopoly share in a cumulative contribution of fund exceeds 50%. After incorporating JSC RZD it should reflect in the consolidated statements financial performance of fund (see Kommersant of May 30). Big obligations of Welfare (328.4 billion rubles) would lay down then on JSC RZD that would lead to rise in price of loans of monopoly which promised to support a ratio of a net debt to EBITDA at the level of not higher than 2.5. According to the reporting of JSC RZD under IFRS, for the beginning of year the net debt of the company made 975.8 billion rubles, and its ratio to EBITDA made 2.
JSC RZD thanks to the share will save influence on fund which creates the corporate program of monopoly. For NPF it will provide the stable customer base. For GPB interest is unevident, obligations of NPF will be consolidated on it that can negatively affect its balance, the managing director of the RAEX agency Pavel Mitrofanov believes. Most likely, he notes, the bank will act as the holder of a controlling stake of NPF Blagosostoyaniye in someone's interests.
Consideration of a question of sale of a controlling stake of fund
According to Reuters, council of fund can consider a question of possible sale of a control share from 51 to 75% in NPF the pension fund of employees of monopoly Gazfond controlled by families of bankers from Bank Rossiya — Yury Shamalov and Yury Kovalchuk allegedly speaks at a meeting until the end of July, 2018 as the Buyer.
Since January 1, 2019 according to the legislation incorporating the NPF performing non-state pension provision should be complete. Otherwise such funds are subject to liquidation. These rules extend also to Blagosostoyaniye fund which owns such troubled assets as the Transfin-M leasing company and Absolyut-bank spoiling its balance. And it forces the Russian Railway to hurry.
Telegram-канал @bankomafia writes that the idea in the transaction of the Russian Railway and Gazprom consists in integrating Gazfond with Welfare, and then already and two subsidiary banks — the Absolute and Gazprombank. In fact, both funds have one problem — ownership of a controlling stake of credit institution.
Telegram channel of a @mysli-Nemysla considers that in due time in the similar way the Rosneft state company saved MKB from crash while the rest "the Moscow bank ring" drowned. Actually it means that Gazprom in not smaller degree is interested in the transaction, than railway monopoly.
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