Translation. Region: Russian Federal
Source: Central Bank of Russia –
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The maximum growth (by 7.3%) in the second quarter of 2025 was shown by pension reserves of non-state pension funds (NPF). They increased due to an increase in income from the placement of these funds, as well as the inflow of money into the non-state pension provision program and the long-term savings program. The volume of pension reserves amounted to 2.5 trillion rubles.
Pension savings of the funds increased by 3.2%, to 3.5 trillion rubles, due to the growth of investment income. The average weighted yield (before paying remuneration to the fund) of pension savings increased to 15.5% per annum, pension reserves – to 19% per annum.
In the second quarter, NPFs mainly acquired OFZ with a constant coupon income, and they also expanded their investments in shares. These financial instruments were popular in anticipation of further price growth in the stock and bond market against the backdrop of a reduction in the key rate.
Read more in"Review of key indicators of non-state pension funds for the second quarter of 2025".
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