OREANDA-NEWS. March 24, 2011. AMT BANK and the First Russian Pension Fund Nongovernmental Pension Fund (the “NPF”) started a joint project, which will allow customers of AMT BANK to transfer accumulative parts of their pensions into the First Russian Pension Fund NPF by visiting any Moscow office of the Bank. Executing an agreement takes just 15 minutes. When executing an agreement the customer will have to show his/her passport and tell the insurance number of the state pension insurance, reported the press-centre of AMT BANK.

To transfer pension savings into the First Russian Pension Fund NPF the customer will have to, in addition to entering into an obligatory pension insurance agreement, submit an application to the Pension Fund of the Russian Federation for changing the Pension Fund of Russia for the NPF or changing any other NPF for the First Russian Pension Fund NPF, and execute an insured person instruction.

The employee of any Moscow office will not only give professional consultations to the customer but also prepare all the documents needed to make the change. The customer will have to just sign them. Executing the transfer of the accumulative part of the labour pension into the NPF is free of charge. And the customer will not have to spend his/her own money for forming his/her future pension, his/her employer will do it under the procedure established by law.

Moreover, customers may enter into an additional pension agreement with the First Russian Pension Fund NPF, which will allow the customer, by making comparatively small but regular pension contributions, to form a considerable additional nongovernmental pension.