The Bank of Russia wants to introduce a mechanism for the rehabilitation of non-state pension funds. The Central Bank says that such a procedure is necessary just in case, and even compare it with the army: if it is in the country, it does not mean that war will begin. However, recent events in the financial sector make one think that with the pension money Russians are not all right, and the regulator did not accidentally talk about sanitation.

For the health of the APF!

Sometimes the actions and statements of Russian financial authorities can lead to the wildest comparisons. For example, think: there lives a man who does not smoke, does not smoke and is not going to smoke. Would you be surprised if you found in his medicine cabinet nicotine patches or other means to combat bad habit? Reasonable conclusions can be only two: either this person is an idiot, or he lies to everyone and in fact secretly smokes and dreams of quitting. Similar theses of the ideology can be derived from the statements of the Central Bank on the rehabilitation of pension funds. The first deputy chairman of the Bank of Russia Sergey Shvetsov told about it on the sidelines of the Finopolis forum. APFs, of course, belong to financial institutions.

And the money that they have stored, insured in the DIA. On the agency's website there is a list of funds included in the guarantee system, there are now 38 APFs. And there is a list of organizations excluded from this system, there are 9 funds. In fact, all this is analogous to insurance of bank deposits, when the state guarantees depositors up to 1.4 million rubles. However, for banks, a sanation system is also envisaged. That is, if the bank is not in a very terrible condition, then it is allocated money for recovery. Or the bank simply can not take away the license, because it is too large to collapse. Then it is also taken for sanitation, as it recently happened with the "Discovery" and Binbank.

In theory, the same tool is needed for pension funds. Still, the responsibility is very high here, it's about the "sacred cow", about the pensions of Russians, who are not so big. And here, and some non-state fund can "hooligan" with this money. But the Central Bank for some reason did not intend to introduce a procedure for the rehabilitation of NPFs. And now, sort of like, can enter. Sergei Shvetsov, explaining why he needed it, gave an example with the army. Like, if the country has troops, this does not mean that it is going to fight. On the contrary, the larger the army, the less likely that a war will begin. The logic is clear. But there is a suspicion that the example with smoking for this situation is better suited.

We take, invest, lose

Let us recall how pension funds work. Until 2014, the state regularly supplied them with money, listing the pension savings of Russians. Then these translations froze, then partially unfrozen. Nevertheless, a huge amount accumulated in the NPF, only 10 largest funds have more than 2 trillion rubles. This is the accumulation of citizens, which the state forcibly cuts off their salaries. And this investment income. And this article is perhaps the main one. How do pensions form in the whole civilized world? Money is postponed and invested. What - in the case of the APF, the fund chooses, informing the future pensioner. Of course, APF has limitations, invest only in the most valuable of securities, in the best and profitable companies. For example, the largest Russian NPF owned by Sberbank, yields close to 10%. A good indicator, will be what to buy a cheap medicine to the client in old age.

And now let's imagine that the APF has overdoed a little, got carried away and lost money. And, maybe, he did not lose it, but found them the best application in the accounts of one-day firms, as, for example, it happened with NPF Blagovest. For this fund is deprived of a license. Accumulations to future pensioners are guaranteed by the state, it compensates them, for the Central Bank of the big problem will not print this money. But the investment income, which directly affects the size of the future pension, the citizen will lose. Therefore, it is necessary to follow the pension funds carefully and try to ensure that all the accumulations of Russians are safe and sound.

What do we see in reality? About the rescue of these funds until recently, especially not baked. At the same time, APFs are considered almost the most opaque organizations in the country. Nobody knows where they are investing. And here is only one figure for the year before last, which somehow brought the Vice Prime Minister
Olga Golodets: more than 200 billion rubles of pension savings are lost because of low-quality investment. Here, however, it can not be overlooked that Olga Yuryevna, as we know, supports the idea of ​​abolishing the accumulative part of the pension altogether. Therefore, she could bring the figure to show her personal position. But the facts do not change from this: NPFs are extremely opaque, and money is lost there. And what will a retiree do without an investment income with a single par value that guarantees the state? Until he retires, severe Russian inflation will turn his accumulation into powder!

A solid fund for respectable gentlemen

Why did the Central Bank, finally, think about the fate of pension money? Perhaps, the situation connected with the latest events is best described by the well-known Russian financier Sergey Vasiliev. He linked the problems of Bank Otkrytie and Binbank with pension funds. The model is simple and even rude. Both credit institutions lived with large Russian businessmen. The "Discovery" had a pool of very famous entrepreneurs, including the owners of "Lukoil"
Vagit Alekperov and Leonid Fedun, as well as Alexander Nesis, Alexander Mamut, the founder of the corporation Vadim Belyaev and other equally famous personalities. Well, "Bin" belonged to the family of Gutseriev-Shishkhanovs. And everyone had and still has pension funds. Since all these people are real businessmen, they constantly wanted to develop, buy something, invest in something. You can take them from an excellent source - NPF with huge resources.

This is "long" money. If, for example, a client can come for deposits at a bank at any time, then it will not be necessary to return funds from the pension fund soon. For example, a client is a man aged 30-40. So he will have to give pension money only in 20-30 years, and if the retirement age is raised, then even later. Well, while businessmen will take this money and spend on something. For example, at a chic hotel in the center of Moscow or an electronic equipment vendor. Well, then, when a businessman makes money on these investments, he, of course, will return everything with interest. That's just something, as we often do, went wrong. Investments were not so profitable, and here the regulator also tightened the rules for investing pension money. And holes were formed, which had to be covered at the expense of banks. Here, in fact, the whole story about where the pension accumulation of Russians is going.

Everything interesting ahead

Now we are waiting for no less exciting events. The Central Bank next year will conduct a global stress test of the entire Russian financial system. And what it turns out for banks and affiliated with them APF so far, probably no one knows. And the fact that there is something wrong with the funds was felt already by citizens who complain about them to the Central Bank. So it is likely that the mechanism of sanitation of non-state pension funds may be quite useful for the regulator. As always in the country, the vital system will be saved in the last place and at the last moment. Where was only the Central Bank and its chairman Elvira Nabiullina earlier? Probably, as usual: we managed something like this, but now we'll try somehow.