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The profitability of pension savings of citizens in VEB exceeded inflation




MOSCOW, 22 Jan – PRIME. The return on investment by the state management company VEB of pension savings in 2020 exceeded inflation, which at the end of last year amounted to 4.9%, the state corporation said. “For 39 million PFR clients, with whose savings VEB.RF works, the year ended in positive territory. Despite the negative market conditions (against the backdrop of a pandemic and a drop in oil prices), citizens’ savings grew due to investment income, and VEB.RF’s portfolios once again demonstrated resilience to external challenges. In 2020, VEB.RF significantly increased investments in corporate bonds, funds for future pensions work in the real economy and for its development, “VEB Vice President Alexander Popov said in the message. VEB will buy shares of Russian Railways for 82 billion rubles The yield on VEB’s portfolios at the end of 2020 will be disclosed later. “The profitability of the placement of savings will exceed inflation for the period. The main task of the state management company VEB.RF – to ensure the unconditional safety of funds for future pensions of citizens – by the end of 2020 has been successfully completed,” Popov noted. due to investment income and exceeded 1.9 trillion rubles at the end of last year. Income from the expanded portfolio decreased by 15.2% compared to 2019 and amounted to 124.5 billion rubles, income from the portfolio of government securities decreased to 2.68 billion rubles from 3.5 billion in 2019. Two-thirds of the income on the pension portfolios of the state management company at the end of 2020 was provided by coupon income on government securities and corporate bonds, a fifth – income on bank deposits. For the portfolio of government securities and payout portfolios, the share of income from reverse repo transactions with a central counterparty was also significant. Eight development institutions will come under the management of VEB.RF VEB manages the pension savings of those citizens who did not choose a private management company or a non-state pension fund (the so-called “silent “). By default, he invests these funds in an extended investment portfolio. At the same time, a citizen can submit an application to the FIU on the choice of a portfolio of government securities.

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