OREANDA-NEWS. December 09, 2015. Bank of Russia considered a request of the joint-stock company Non-governmental Pension Fund Education and Science (licence No. 272/2) (hereinafter, the Fund) and confirmed the Fund’s compliance with the requirements of participation in the rights assurance system of the insured entities based on the provisions of Federal Law No. 422-FZ, dated 28 December 2013, ‘On Guaranteeing the Rights of Insured Entities in the Compulsory Pension Insurance System of the Russian Federation when Forming and Investing Pension Savings and Making Payments out of Pension Savings.’

Considering its earlier decisions, the Bank of Russia has already approved 33 non-governmental pension funds as regards their compliance with the requirements of participation in the rights assurance system of the insured entities. These funds manage 1.581 billion rubles of pension savings which account for 95.79% of the non-governmental pension fund pension savings market.