OREANDA-NEWS. According to reporting data posted on the Bank of Russia website, the volume of pension reserves and savings in non-governmental pension funds (NPFs) amounted to 3.1 trillion rubles which accounts for some 3.7% of GDP, as of 2016 Q2.

The volume of pension savings amounted to 2.02 trillion rubles which is by 1.6% higher than in 2016 Q1. The growth of pension savings was attributed to the investment income. Pension reserves reached 1.04 trillion rubles (+2% over a similar time span).

The volume of pension payments including one-time payments, term payments and the accumulated portion of the retirement pension increased by 106.6% to reach 2.4 billion rubles in 2016 Q2, due to a 21.5% growth of the insured who reached the retirement age to make it total 228.8 thousand people.