Translation. Region: Russian Federation –
Source: Central Bank of Russia
An important disclaimer is at the bottom of this article.
Bank of Russia offers change the procedure for determining the amount of remuneration of a non-state pension fund (NPF) depending on the method of investing pension reserves.
If funds separate their portfolios, for example, by placing funds separately under different non-state pension provision strategies and long-term savings programs, then they will calculate investment income separately for each such strategy to determine the amount of their remuneration.
If a specific portfolio achieves a positive result, the fund will be able to calculate a "success" bonus. This is the second component of the remuneration that NPFs receive in addition to the fixed component for asset management.
This approach will allow funds to more fairly reflect the performance and compensation for each strategy, rather than relying on average values across all pension reserves.
The changes are planned to take effect on January 1, 2027. This means that the variable portion of NPF remuneration for 2026 will be calculated according to the new rules.
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