Whether or not to transfer a funded pension to NPF Sberbank
Before you are going to transfer the funded part of your pension to Sberbank NPF, you will need to find out what the company is and read reviews about its activities. An important point is the amount of investment income that can be brought by transferring a pension to a non-state pension fund.
The Sberbank Pension Fund is considered a subsidiary of Sberbank of Russia. Despite the fact that all shares of the NPF belong to the banking organization, the bank itself does not take responsibility for the activities of the fund. The company was founded in 1995. However, representatives of the fund received a license only in 2009.
NPF provides the population with the following list of services:
- formation and investment of accumulated money;
- payment of pensions;
- implementation of additional types of accruals in accordance with the applied programs;
- drawing up a plan on an individual basis in order to regulate the amount of contributions aimed at increasing the size of a future pension.
To understand the need to transfer money to this company, you will need to study the statistics. This concerns the level of investment income. For example, in 2020, this figure was equal to compulsory pension insurance – 8.4%. This applies to funds that were accumulated before 2014.
Reference! With regard to non-state provision of pensions, the figures were 8.1%.
Advantages and disadvantages
A citizen needs to decide whether to transfer a funded pension to a non-state pension fund after a thorough study of the company’s activities. For this reason, you need to find out what the positive and negative aspects of the fund’s activities are.
The advantages of this organization include:
- citizens have information about invested funds at any time;
- it is possible to track the account status online; for this, a person can use his personal account or mobile application;
- speed of contract execution;
- confirmed reliability of the fund, since all finances are insured. This means that upon completion of the organization’s activities, the pensioner will receive funds from the insurance company;
- there is a possibility to choose a method for receiving finance;
- free service.
In addition, the funds are protected from third parties. If a divorce occurs, these finances cannot be divided between citizens. In a situation where a person does not live to retire, the money is transferred to legal successors, and not to government agencies.
There is also the right to early withdrawal of funds.
The main disadvantages include:
- income instability;
- delays in payments.
It is worth considering that the activities of any organization have both positive and negative assessments. Speaking about the disadvantages, citizens note that employees clearly provide information on how to transfer funds to NPFs, while the issue of withdrawing money remains unclear.
Attention! Payment delays last for several months. Representatives of the fund say that the reason for this is that they have been accepting documentation from citizens for a long period of time. After which you need to check all the acts and send them to the necessary authorities.
What does a pension consist of?
For just over thirteen years, Russia has had a system of compulsory pension insurance - OPS. It involves payments from the salaries of citizens of the Russian Federation. The employer transfers 22% of employee income to the State Pension Fund every month. Until 2014, pension payments were formed from the insurance and savings parts. They were distributed 16% and 6% respectively. The insurance portion was transferred to pay pensions to people who were on state pensions during this period. And the savings account had to be kept in the account of an individual until the employee retires. It was an addition to the already existing social payment. But since 2014, this account has been “frozen”. Until 2020, all 22% of salary deductions went to insurance premiums. That is, employed citizens at that time supported existing pensioners. As of 2020, the division was resumed.
A person can only manage the accumulative part of deductions. By default, it is stored in the Pension Fund of Russia - PFR, and comes into effect upon reaching the appropriate age. If a person does not manage to receive the entire payment, the funds have the right to be inherited by immediate relatives - spouses or children.
Your personal account on the Federal Tax Service website provides information about savings and displays the amount of deductions for the entire period of employment. If for some reason a person wants to change the state savings account to a non-state pension fund called NPF, he can do this at any time. After all, in non-state structures the profitability is higher than in the pension fund, where the pension increases by only 4% per year.
Sometimes an employee does not know in which insurer’s account the funds he is accumulating are located. There are several ways to find out:
- Request an extract on the status of savings in the Pension Fund at the place of residence or employment.
- Order an information statement on the Unified Portal of State and Municipal Services.
If the priority in choosing the formation of future savings is long-term support of Russian citizens and leadership, you can transfer the funded part of the pension from the NPF to Sberbank, where the money works for the investor and is securely stored until the right time.
Expert opinion
Anastasia Yakovleva
Bank loan officer
Apply now
Right now you can apply for a loan, credit or card to several banks for free. Find out the conditions in advance and calculate the overpayment using a calculator. Want to try?
Fund programs and tariffs
Until the beginning of 2014, company management was required to transfer 22% of earnings to the Pension Fund. At the same time, only 6% of this amount was intended for pension accumulation. Citizens were given the opportunity to manage these funds independently.
The remaining funds were used to generate insurance payments. They were located in the pension authority or were paid to those who had reached retirement age. Currently, future retirees are given the opportunity to choose where to save for their pension. This is due to the fact that after 2014, all 22% are allocated to the Pension Fund.
A person has the right to transfer funds to non-state companies that accumulate finances and subsequently provide for the pensioner.
Important! For example, you can send funds to Sberbank NPF. The main conditions for transferring funds are the age category of the citizen. For females, these are those born no earlier than 1957, for males - from 1953.
In addition, it is taken into account that the citizen has reached the age of majority and has not lost his legal capacity. An important point is that persons over this age do not have the right to act as investors. This means that all finances are located in the Pension Fund.
Until recently, Sberbank offered citizens to use the following programs:
- universal – provided for irregular transfers and a floating schedule;
- guaranteed - an individual procedure for depositing funds was established, which was influenced by the financial capabilities of the citizen;
- comprehensive - a person transferred funds upon his first visit to the organization and an individual pension plan was formed.
Currently, only the first program is used. The minimum down payment amount has been set at 1,500 rubles. At the same time, the next income should not be less than 500 rubles. A person can transfer finances in any way convenient for him.
For example, when using a bank card, using the official NPF portal or mobile application. You can also contact the Sberbank Online service or a Sb branch.
How to check information about the amount of your savings in Sberbank NPF
Offline verification methods:
- Personal visit to the Sberbank office. Those who have concluded an agreement with Sberbank can contact the nearest actual bank office. You must have your passport and SNILS with you. Information about the amount of savings will be received on the day of application, within a few minutes. However, to receive details, you will have to fill out an application and wait for the request to be satisfied within a month.
- Using an ATM or terminal. You can check the status of the account linked to your bank card through an ATM or terminal. This will not take much time, and if the ATM is installed in the bank, then you can count on the help of employees.
Documentary confirmation of deposits can only be obtained by personally contacting a bank branch.
Online verification methods:
- Using the Sberbank Online service. In order to use the check in Sberbank Online, you need to go to your personal account, select the “Pension programs” section, and send an application to receive a statement. When the request is processed, a link to the statement will appear.
- On the website of Sberbank NPF. Information about account status is available to registered users in their personal account.
- On the government services portal.
- On the website of the Russian Pension Fund (only for users registered on the government services portal).
How to get information using SNILS
The owner of the insurance number of an individual personal account can use it to find out about the amount of savings by contacting the physical office of the Pension Fund of Russia or on the fund’s website.
What documents need to be prepared
To transfer finances to the company in question, a citizen will need to use documents such as SNILS and an identity card. An important point is that the information in these acts must be identical. Problems arise if there are differences in the entries made.
There are three main steps that you need to go through to register:
- Formation of an application and transfer of acts to the NPF branch;
- execution of the agreement;
- waiting for a decision and transferring money.
It is important to note that early transfers are made immediately after registration is completed. With regard to urgent transfers, it can be noted that such a moment is associated with the end of the agreement with the previous fund.
For example, if an application is submitted at the end of the year, funds are transferred after 3 months.
How to terminate an NGO contract
There are situations when the client wants to terminate the contract for Non-State Pension Provision (NPO).
To realize his desire, he will need to submit an application with a request to cancel the obligations of the parties to the Pension Fund. After approval, all savings are transferred to another fund chosen by the client or to his account within 3 months.
Please note that early termination of the contract initiated by the client will cause him losses:
- the client is responsible for all costs associated with transferring funds from the fund (including, he will have to pay a 13% commission when transferring money to the card);
- loss of possible profit.
Thus, the client has the right to begin the process of terminating the contract, but he must take into account all subsequent damages. In addition, Sberbank NPF increases the profits of its clients and keeps their money safe.
Translation instructions
The process of transferring funds to the company in question is not as difficult as it seems. This procedure takes about half an hour. The citizen will need to enter data into the form and submit an application to the fund’s branch. The application option can be selected on the company’s official portal.
An application can also be sent using:
- State Services portal;
- Pension Fund;
- SB official website;
- through multifunctional centers.
In the first case, a mandatory requirement is established. It consists in the citizen having a signature in electronic format. In addition, a person can send an application to the Pension Fund for the transfer of funds when using postal services. Then the paper must first be certified by a notary office.
Retirement funds can be stored in any organization. First you need to study the positive and negative aspects of the activities of the selected NPF.
