Who controls the Pension Fund? Pension fund supervisor

1. What is a non-state pension fund?

Answer

The Non-State Pension Fund (NPF) is a non-profit social security organization whose main purpose is to pay pensions to participants in non-state pension systems and compulsory pension insurance.

Question

2. How is control over the activities of non-state pension funds carried out?

Answer

System of state control.
Due to the high social significance of NPFs, active government support is provided. The President and Government of the Russian Federation have repeatedly emphasized the special role of non-state pension funds in building a stable and developed economy in Russia. At the same time, the activities of NPFs are strictly controlled by the state. Control over the activities of non-state pension funds is legally assigned to the Authorized Federal Body. Previously, the functions of this body were performed by the Inspectorate of Non-State Pension Funds under the Ministry of Labor and Social Development. Since March 2004, by Decree of the President of the Russian Federation, the main functions of state regulation of the activities of non-state pension funds have been transferred to the Federal Service for Financial Markets. In addition, a special department has been created under the Ministry of Health and Social Development, which is responsible for the development of legislation on non-state pension funds.
State measures to regulate the activities of non-state pension funds:
. licensing of NPF activities;
. establishing standards for the placement of pension reserves and investment of pension savings;
. establishing the standard size of the insurance reserve, the procedure for its formation and use;
. operational control over the placement of pension reserves of funds, the fulfillment of obligations assumed by the fund to investors and participants.

Internal control system
Foundation Council
The highest governing body of the NPF. Establishes the principles and procedure for the activities of NPFs, approves internal regulations, budget, etc.
Board of Trustees
Monitors compliance with the interests and rights of participants, depositors and insured persons.
Audit committee
Carries out an audit of the financial activities of non-state pension funds, checks the accounting for receipt of pension contributions, and the correctness of pension payments.

Internal controller

Internal control must be carried out by an official (hereinafter referred to as the controller) or a separate structural unit (hereinafter referred to as the internal control service). The controller, head and employees of the internal control service who exercise internal control are appointed and dismissed by the fund's board. The controller and internal control service are independent from the executive bodies of the fund and are accountable to the fund’s board.

Interdepartmental control system
Specialized depository
Carries out daily monitoring of the fund’s compliance with the composition and structure of the investment portfolio
Auditor
Conducts an audit of the financial and economic activities of NPFs
Actuary
Annually conducts an actuarial assessment of the fund’s performance to ensure compliance of the fund’s pension reserves with its pension payment obligations

Question

3. Is it possible to find out and check information about the activities of JSC NPF "Atomgarant"?

Answer

All information about the fund’s activities is open. You can get it on the website in the section, from the media, on the official website of the FFMS, by directly contacting the Fund’s employees. At least once a year, the fund is required to inform its investors, participants and insured persons about the status of their pension accounts. Also, every year the fund publishes its annual report in the open press.

Question

4. How does JSC NPF Atomgarant answer for its obligations to depositors/participants/insured?

Answer

The Foundation is liable for its obligations with all its property.

If you haven't found the answer to your question, you can ask our specialists.

Understanding the management system of the Pension Fund of the Russian Federation gives the best idea of its work throughout the country and the tasks it faces. Based on the official report of the Pension Fund on its activities for 2017, we tell you what this system consists of.

What does the Foundation do?

The Pension Fund of Russia (aka PFR) is one of three extra-budgetary funds created by the state (+ FSS, FFOMS), which are entrusted with the functions of compulsory social insurance in our country.

As for the Pension Fund, it acts as a state insurer for compulsory pension insurance - OPS. Its activities are coordinated by the Ministry of Labor and Social Protection of Russia.

The basis of the PFR management system is the directions of its activities. They are as follows:

taking into account the rights of citizens regarding compulsory health insurance, pension and social security from the state;
appointment and payment of pensions under compulsory pension insurance and pension provision from the state;
assignment and financing of social benefits;
formation, assignment and payment of pension savings;
maintaining state programs for maternity capital and co-financing of voluntary pension savings;
subsidizing regional social programs;
international cooperation on pension and social security issues;
outreach.

Foundation Personnel

The functioning of the management system of the Pension Fund of the Russian Federation would be impossible without qualified employees. Interestingly, they do not have the status of civil servants.

As of 2018, the Pension Fund system employs about 108.8 thousand people. The age of the majority of specialists (62%) is from 30 to 50 years.

88% of the Foundation's employees have higher education. Almost half have served in the Pension Fund for more than 10 years. The vast majority of the Foundation's employees are women.

During 2017, the Pension Fund hired 17.3 thousand people. As part of improving the management system of the Russian Pension Fund, the staff was ultimately reduced by 10% due to:

with optimization of the management structure;
transferring the function of administering insurance premiums to the Tax Service.

Pension system participants

Another necessary element of the PFR organization system is its participants.

Scope of activity

Geographically, the Pension Fund operates:

throughout Russia;
at Baikonur;
In Kazakhstan.

The Foundation has branches in all major populated areas of the country. As of 2018, it has about 2.46 thousand units.

Information environment

As part of the system for managing the activities of the Pension Fund, special databases are formed:

With information about the pension and social rights of all Russians.
Foreigners registered in the OPS system.

In 2017, the improved information system AIS PFR - 2 allowed:

increase the efficiency of the Fund’s territorial bodies throughout the country;
improve the quality and timing of public services provided to citizens.

State programs

The Pension Fund runs 2 national programs.

In fact, even at a young age it is worth thinking about your future retirement. After all, later, in old age, it will be difficult to change anything.

So, currently in our country there are a huge number of non-state pension funds that vying with each other to offer their services to citizens. But should you trust them? Which government bodies control NPFs and why control is so important.

Why is state control over the activities of non-state pension funds necessary?

Almost all NPFs are managed by the so-called Fund Council. It consists exclusively of the founders. Their competence includes:

the activities of the organization and important issues related to it;
modification and approval of documentation;
direction of investment policy;
development of a work plan for the next year, closing and reporting on the past 12 months;
making decisions on the appointment of executive bodies, as well as the formation of the Council.

It is worth saying that at first the Council meets approximately once every 30 days. During normal operation, meetings are reduced to once a year. Very often the Council is compared to a meeting of shareholders. And it must be said that such a comparison is quite appropriate, since both are bodies of supreme management.

Of course, someone must manage the organization. In most cases, this function is entrusted to a specially designated enforcement agency. It can be expressed either in one person or in a group of people. Its functionality is as follows:

organization of work process;
concluding transactions with counterparties;
selection of employees and conclusion of employment contracts with them;
control of the work of management personnel;
calculation of pension payments and their transfer.

Important! The formation of the executive body is carried out exclusively by the Foundation Council. Moreover, the first may have a fairly large range of powers.

Sometimes inspections are created whose functions include:

renewal or termination of a license;
registration of pension rules;
setting standards relating to the fund's pension reserves;
control must be exercised over how reserves are allocated;
development of methodological and regulatory documentation;
designation of the time for which reports must be submitted.

Legislative control standards

– meaning, legal regulation, functions – these are really extremely important points that you need to know about in detail.

Non-state pension fund - its legal regulation by the state is clearly stated in Law No. 75-FZ. NPF, in accordance with the law, is a non-profit organization. Its activities include:

activities related to non-state pension provision, provided for by concluded agreements with fund participants;
acting as an insurer under Mandatory Pension Insurance contracts;
insurance activities for professional pension insurance.

Note! The founders do not have the right to dispose of the foundation's property!

The NPF is responsible for all its property. As soon as it passes state registration of law, it is immediately assigned the status of a legal entity. The constituent document is the charter, which is adopted by the founders of the fund.

Non-state pension fund, meaning, regulation, functions fully fall under Article 8 of Law 75-FZ. So, the functions include:

development of rules by which the organization’s activities will be carried out;
concluding various types of agreements related to the pension system;
accumulation of contributions and savings;
tracking of non-state pension accounts;
maintenance of accounts of the funded part of the labor pension;
provision of property that is necessary for the normal functioning of statutory activities.

List of government bodies that control the activities of non-state pension funds

It’s worth starting with the question of which bodies control NPFs. All of them are divided into types, namely:

state control;
external control;
public;
within the organization;
from the clients.

Which government bodies exercise control over non-state pension funds:

Pension Fund of the Russian Federation;
Ministry of Finance of the Russian Federation;
Ministry of Health and Social Development of the Russian Federation;
Bank of Russia.

Most likely, you have come across such concepts as “social” and “economic” block more than once. So, the Pension Fund of Russia and the Ministry of Health and Social Development are part of the first, and the Ministry of Finance and the Bank of Russia are part of the second.

If we take the period until 2013, control over the activities of non-state pension funds was exercised by the following organizations:

Ministry of Labor and Social Protection;
Ministry of Finance;
FFMS.

It is worth saying that the Central Bank checks for compliance with the requirements for a license, and also ensures that the fund complies with current legislation; as for funds, they are required to provide the necessary reporting to specialized bodies every month, quarter and year.

Legal regulation of the activities of non-state pension funds is externally carried out by:

a specially designated depository;
independent expert in the field of audit;
independent actuary.

Public control

All of the above organizations have the right only to transfer information about identified violations to government agencies. The latter can already take appropriate measures.

In principle, it is practically clear who exercises control over the non-state pension fund. There are still some points worth talking about. Public control is managed by the NPF Board of Trustees. Its creation is necessary so that it is possible to control the actions of the fund, and thereby protect the interests of clients.

Separately, it should be noted that, starting from 2014, the requirements for NPF reporting have become more stringent. These measures were taken, of course, for a reason. The first reason is the rather difficult economic situation. The second influencing factor was the negative savings rates during the crisis period of 2008. The Bank of Russia constantly reminds these organizations that although they are engaged in non-profit activities, they nevertheless perform a socially significant task for the entire country as a whole.

Today there is a positive trend in the field of non-state pension insurance. The whole point is that control over activities is carried out by only one body, and this is really the right decision.

Finally

Now you know which bodies control NPFs. Of course, every resident of our country has the right to independently decide where exactly to place their pension savings.

However, the state currently guarantees the protection of depositors from fraud by non-state pension funds for a fairly long period of time. Therefore, people can again trust the authorities and their state as a whole, making sure that their future pension is in good hands.

When exercising control, employees of the Bank of Russia in accordance with the powers vested in them upon presentation of their official identification and on the basis of a decision to conduct an inspection made by the Chairman of the Bank of Russia, his deputy, the Financial Supervision Committee of the Bank of Russia or other persons in accordance with the regulations of the Bank of Russia, have the right of unhindered access to the premises of the funds, the right of access to documents and information (including information to which access is limited or prohibited in accordance with federal laws), which are necessary to exercise control, as well as the right of access to software and hardware, ensuring recording, processing and storage of this information. (Clause 5 as amended by Federal Law dated December 30, 2015 N 427-FZ) (see text in the previous edition) 5.1.

Who controls non-state pension funds

The Pension Fund of the Russian Federation, including: approves the standard insurance rules of the fund, the standard form of the agreement on the provision of specialized depository services to the fund, the standard form of the agreement between the fund and the organization on mutual certification of signatures, the standard form of the contract on compulsory pension insurance; approves forms of applications (demands) of the fund's creditors for obligations arising from pension agreements for early termination of obligations and payment of the redemption amount or transfer of it to another fund in connection with the reorganization of the fund, as well as instructions for filling out application forms (demands) for early termination of obligations and payment of the redemption amount or transfer of it to another fund in connection with the reorganization of the fund; the paragraph is no longer valid. — Federal Law of July 21, 2014 N 218-FZ; (cm.

Question answer

Their competence includes:

the activities of the organization and important issues related to it;
modification and approval of documentation;
direction of investment policy;
development of a work plan for the next year, closing and reporting on the past 12 months;
making decisions on the appointment of executive bodies, as well as the formation of the Council.

It is worth saying that at first the Council meets approximately once every 30 days. During normal operation, meetings are reduced to once a year.

Very often the Council is compared to a meeting of shareholders. And it must be said that such a comparison is quite appropriate, i.e.
because both of them are top management bodies.

Attention

Regulation of non-state pension funds

Non-state pension fund - its legal regulation by the state is clearly stated in Law No. 75-FZ. NPF, in accordance with the law, is a non-profit organization.
Its activities include:

activities related to non-state pension provision, provided for by concluded agreements with fund participants;
acting as an insurer under Mandatory Pension Insurance contracts;
insurance activities for professional pension insurance.

Note! The founders do not have the right to dispose of the foundation's property! The NPF is responsible for all its property. As soon as it passes state registration of law, it is immediately assigned the status of a legal entity.

The constituent document is the charter, which is adopted by the founders of the fund.

An error occurred.

Non-state pension fund, meaning, regulation, functions fully fall under Article 8 of Law 75-FZ. So, the functions include:

development of rules by which the organization’s activities will be carried out;
concluding various types of agreements related to the pension system;
accumulation of contributions and savings;
tracking of non-state pension accounts;
maintenance of accounts of the funded part of the labor pension;
provision of property that is necessary for the normal functioning of statutory activities.

List of government bodies that control the activities of NPFs It’s worth starting with the question of which bodies control NPFs.

of the Russian Federation on funds operating in compulsory pension insurance, as well as on funds that have been banned from conducting all or part of their operations or have had their license revoked, within 10 working days from the date of the introduction of the corresponding ban or cancellation of their license; 8) sends, within its competence, to the persons specified in paragraph 2 of this article, orders to provide documents, requests, including those initiated by the federal executive body exercising the functions of developing state policy and legal regulation in the field of social development, to provide information related to their activities related to the formation and placement of pension reserves, the formation and investment of pension savings, and other information taking into account the requirements of federal laws; (edited)
Central Bank of the Russian Federation - Service of the Bank of Russia for Financial Markets) Coordination of the activities of the Pension Fund of the Russian Federation in the field of formation and investment of pension savings Ministry of Labor and Social Protection of the Russian Federation Control over the use of budget funds of the Pension Fund of the Russian Federation Government of the Russian Federation, Accounts Chamber, Supervisory Board of the Pension Fund of the Russian Federation, Audit Commission of the Pension Fund of the Russian Federation, Federal Service for Financial and Budgetary Supervision, Ministry of Labor and Social Protection of the Russian Federation Control over the correctness of calculation and payment of insurance payments Tax authorities Collection of arrears on insurance premiums and penalties Pension Fund bodies It should be noted that most of the listed powers stem from the status of funds of the Pension Fund of the Russian Federation as federal property and , in accordance with the provisions of Art.

The federal body exercising control over non-state pension funds is

the Pension Fund of the Russian Federation and the Bank of Russia on newly concluded agreements on compulsory pension insurance and on newly concluded pension agreements for early non-state pension provision; establishes the mandatory terms of the trust management agreement concluded by the fund with the management company, requirements for the qualifications of actuaries performing actuarial assessment of the activities of funds, qualification requirements for persons performing the functions of the sole executive body of the fund, for controllers (heads of the internal control service), the procedure for calculating the results of investing funds pension savings not included in the fund's reserves for reflection on the funded pension account, forms of reports of the persons specified in paragraph 2 of this article, the procedure and deadlines for their submission; (edited)
See also: Procedure for selecting a Non-State Pension Fund Legal regulation of the activities of non-state pension funds is externally carried out by:

a specially designated depository;
independent expert in the field of audit;
independent actuary.

Public control All of the above organizations have the right only to transfer information about identified violations to government agencies. The latter can already take appropriate measures.

Info

In principle, it is practically clear who exercises control over the non-state pension fund. There are still some points worth talking about.

Public control is managed by the NPF Board of Trustees. Its creation is necessary so that it is possible to control the actions of the fund, and thereby protect the interests of clients.

Federal Laws dated July 23, 2013 N 251-FZ, dated December 28, 2013 N 410-FZ) (see text in the previous edition) (as amended by Federal Law dated January 10, 2003 N 14-FZ) (see text in the previous edition ) 1.

In order to comply with the requirements of this Federal Law, protect the rights and interests of participants and insured persons, other interested parties and the state, state regulation of the activities of funds in the field of non-state pension provision and compulsory pension insurance, supervision and control over these activities is carried out by the authorized federal body and the Bank of Russia. (as amended by Federal Laws dated July 23, 2013 N 251-FZ, dated December 28, 2013 N 410-FZ) (see.

text in the previous edition) 2.

The budget of the Pension Fund of the Russian Federation is the second largest after the federal one, therefore the efficiency and feasibility of using budget funds is an essential task in its activities. In this regard, the role of state and internal financial control over the efficiency and expediency of spending budget funds by the Pension Fund of the Russian Federation is increasing.

The structure of control over the activities of the Pension Fund of the Russian Federation is currently presented in Figure 7.

Figure 7 - Structure of control over the activities of the Pension Fund of the Russian Federation

State financial control is the activity of state authorities and management at all levels (officials), as well as internal control units of state organizations established by relevant regulations, to identify, prevent and suppress violations in the procedures for managing state financial flows and financial and economic activities of budgetary institutions. The purpose of state financial control is to ensure compliance with the principles of legality, expediency and efficiency.

According to Art. 7 of the Federal Law of July 24, 2002 N 111-FZ “On investing funds to finance the funded part of the labor pension in the Russian Federation”, the functions of regulation, control and supervision in the field of formation and investment are performed by the federal executive body authorized by the Government of the Russian Federation for regulation, control and supervision in the field of formation and investment of pension savings. According to clauses 1 and 2 of the Government of the Russian Federation of August 26, 2013 N 739 “On certain issues of state regulation, control and supervision in the financial market of the Russian Federation”, the authorized federal executive body for regulation, control and supervision:

In the field of formation and investment of pension savings, in terms of carrying out activities related to state regulation in the field of formation and investment of pension savings, including funds of the payment reserve and funds of pension savings of insured persons for whom a fixed-term pension payment has been established, is the Ministry of Finance of the Russian Federation;

In the sphere of formation and investment of pension savings funds in terms of carrying out activities to monitor compliance by the Pension Fund of the Russian Federation with the legislation of the Russian Federation on the formation and investment of pension savings funds, with the exception of functions of control over the Pension Fund of the Russian Federation, which are provided by the Federal Law "On Investment of Funds" for financing the funded part of the labor pension in the Russian Federation" are attributed to the functions of the Central Bank of the Russian Federation, is the Ministry of Labor and Social Protection of the Russian Federation. The functions of the first in terms of control over the activities of the Pension Fund of the Russian Federation are established by Federal Law dated July 24, 2002 N 111-FZ, the functions of the second by Decree of the Government of the Russian Federation dated August 26, 2013 N 739.

An analysis of the regulatory and legislative framework of the Russian Federation for pension insurance made it possible to establish the main control powers of federal government bodies in relation to the activities of the Pension Fund of the Russian Federation, presented in Table 5.

Table 5

Authority	Federal government body
Approval of the PFR budget and report on its execution	Government of the Russian Federation, Accounts Chamber
Determining the procedure and conditions for the formation and investment of pension savings	Federal Service for Financial Markets of the Russian Federation (since September 1, 2013, Service of the Bank of Russia for Financial Markets)
Determining the procedure for storing PF funds	Government of the Russian Federation
Management of the compulsory pension insurance system	Government of the Russian Federation
Ensuring the financial stability and balance of the compulsory pension insurance system, including by ensuring the receipt of mandatory payments in the amount provided for by the Pension Fund budget	The state bears subsidiary liability
Determining the procedure for using temporarily free funds of the Pension Fund of the Russian Federation	Federal Service for Financial and Budgetary Supervision
Exercising state supervision and control over the implementation of the rights of insured persons to receive a labor pension, including its funded component	Ministry of Finance of Russia, Federal Service for Financial Markets of the Russian Federation (from September 1, 2013, Central Bank of the Russian Federation - Service of the Bank of Russia for Financial Markets)
Coordination of the activities of the Pension Fund in the field of formation and investment of pension savings	Ministry of Labor and Social Protection of the Russian Federation
Control over the use of budget funds of the Pension Fund of the Russian Federation	Government of the Russian Federation, Accounts Chamber, Supervisory Board of the Pension Fund of the Russian Federation, Audit Commission of the Pension Fund of the Russian Federation, Federal Service for Financial and Budgetary Supervision, Ministry of Labor and Social Protection of the Russian Federation
Monitoring the correctness of calculation and payment of insurance payments	Tax authorities
Collection of arrears of insurance premiums and penalties	Pension Fund bodies

It should be noted that most of the listed powers stem from the status of the funds of the Pension Fund of the Russian Federation as federal property and, in accordance with the provisions of Art. 71 of the Constitution of the Russian Federation, according to which federal state property and its management are the subject of the exclusive jurisdiction of the Russian Federation.

So, in recent years, the role of state and internal financial control over the efficiency and expediency of spending budgetary funds of the Pension Fund has been increasing. The approval of the PFR budget and the report on its execution is controlled by the Government of the Russian Federation, the Accounts Chamber; the procedure and conditions for the formation and investment of pension savings are controlled by the Federal Service for Financial Markets of the Russian Federation (since September 1, 2013, the Bank of Russia Service for Financial Markets), the procedure for using temporarily free funds of the Pension Fund is controlled by the Federal Service for Financial and Budgetary Supervision; state supervision and control over the implementation of the rights of insured persons to receive a labor pension, including its funded component, is carried out by the Ministry of Finance of Russia and the Bank of Russia Service for Financial Markets), the activities of the Pension Fund of the Russian Federation in the field of formation and investment of pension savings are controlled by the Ministry of Labor and Social Protection of the Russian Federation Federations, etc.