State management company – Vnesheconombank

Vnesheconombank (State Corporation Bank for Development and Foreign Economic Affairs) is a Russian specialized institute, in the literal sense of the word it is not a bank and does not have a Central Bank license. The activities of the organization are regulated by the law “On the Development Bank”. Vnesheconombank was founded in 1922 under the name “Russian Commercial Bank”.

The main directions of the bank's work are:

1. 1. Development Bank - credit and investment support for large government projects created to strengthen economic development in various business areas and eliminate infrastructure restrictions;
2. 2. Agent of the Government of the Russian Federation - provides state guarantees, carries out work with external debt;
3. 3. Support for the financial system of the Russian Federation - refinances the debt of companies in Russia on the foreign market during a crisis period; provides a special type of lending for banks and companies, a subordinated loan.

Vnesheconombank owns several banks, incl. received by him during the crisis in 2008-2009, the Vnesheconombank group also includes the companies VEB Engineering, VEB Capital, VEB Leasing, VEB Innovations, Russian Direct Investment Fund, etc.

Story

VEB traces its history back to the Russian Commercial Bank created on August 18, 1922 at the beginning of the New Economic Policy (NEP). It was organized as a concession by the Swedish financier Olof Aschberg. On April 7, 1924, the institution was transformed into the Bank for Foreign Trade of the USSR. On July 17, 1987, by a resolution of the Central Committee of the CPSU and the Council of Ministers of the USSR, it was renamed the Bank for Foreign Economic Affairs of the USSR (Vnesheconombank of the USSR), and bore this name until 2007.

In Soviet times, the credit organization carried out settlements for export credit operations and managed a network of foreign banks. On January 2, 1992, Vnesheconombank actually declared a default on the external obligations of the USSR in the amount of about $8 billion. On January 13, 1992, the Presidium of the Supreme Council of the RSFSR decided to preserve VEB and assigned it a new function - servicing the external debt of the USSR. At the same time, the institution did not receive a license from the Central Bank and began to operate on the basis of separate regulations.

The bulk of the USSR's external debt was repaid in 2006. By that time, VEB had a new function: it became a management company for the trust management of pension savings (in accordance with the federal law of July 24, 2002 “On investing funds to finance funded pensions in the Russian Federation” and the resolution of the Government of the Russian Federation of January 22, 2003) . On May 17, 2007, Russian President Vladimir Putin signed the law “On the Development Bank,” within the framework of which Vnesheconombank of the USSR was transformed into the state corporation Vnesheconombank.

Until 2021, VEB manages the funded portion of pensions of citizens who have not transferred it to non-state pension funds or private management companies (the so-called silent ones).

In 2014, sectoral sanctions were imposed by the United States, Canada, the European Union, Switzerland and Japan against VEB and other large Russian state corporations in connection with the situation in Ukraine. They provide for a ban on medium- and long-term lending and transactions with new issues of securities.

Vnesheconombank: login to your personal account and online registration

Vnesheconombank (State Corporation Bank for Development and Foreign Economic Affairs) is a Russian specialized institute, in the literal sense of the word it is not a bank and does not have a Central Bank license. The activities of the organization are regulated by the law “On the Development Bank”. Vnesheconombank was founded in 1922 under the name “Russian Commercial Bank”.

The main directions of the bank's work are:

1. 1. Development Bank - credit and investment support for large government projects created to strengthen economic development in various business areas and eliminate infrastructure restrictions;
2. 2. Agent of the Government of the Russian Federation - provides state guarantees, carries out work with external debt;
3. 3. Support for the financial system of the Russian Federation - refinances the debt of companies in Russia on the foreign market during a crisis period; provides a special type of lending for banks and companies, a subordinated loan.

Vnesheconombank owns several banks, incl. received by him during the crisis in 2008-2009, the Vnesheconombank group also includes the companies VEB Engineering, VEB Capital, VEB Leasing, VEB Innovations, Russian Direct Investment Fund, etc.

The main differences between state and private organizations

Private management companies differ from public ones in the following parameters:

1. The activities of such companies are controlled by the state.
2. In both cases, individuals are guaranteed the safety of their starting savings.
3. GUK and PMU are engaged in investment activities, the purpose of which is to increase the pension savings of Russian citizens.
4. Cooperation with GUK is associated with lower risks, since they work only in proven investment areas.
5. With a successful choice of the investment portfolio offered by the PMC, individuals will be able to receive maximum profit.

How to receive a pension from NPF “Vnesheconomfond”

If you previously had an agreement with a non-state pension fund and you have reached retirement age, you can only apply here to receive the funded part of your pension. To apply for NPP payment, you should:

• Submit an application to the Foundation.
• Attach to it documents certified by a notary - copies of your passport, SNILS, a certificate from the Pension Fund of the Russian Federation on the assignment of a pension.
• Hand over in person, or send the entire kit to the Foundation's postal address by registered mail.

Vnesheconombank and future pension

So, if it has been decided that VEB Management Company will be your management company, then it is worth knowing some important points.

To begin with, it is worth understanding that the Pension Fund and non-state funds themselves are not directly involved in managing the transferred finances. For these purposes, there are specially created management companies - public and private.

Thus, a strong union between the pension fund and VEB Management Company has its advantages and possible disadvantages.

Placement of savings in VEB

GUK suggests submitting applications for its selection only through the territorial branches of the fund. You will additionally need to provide:

• SNILS (certificate with a unique individual number);
• passport of a citizen of the Russian Federation or other document confirming his identity.

Do you need expert advice on this issue? Describe your problem and our lawyers will contact you as soon as possible.

Investment portfolio

When transferring your savings portion to the bank's management company, you need to take care of choosing an investment portfolio:

• basic variety;
• extended version.

They differ from each other in the orientation of the securities and bonds of which they consist. In the first case, we deal only with state-owned companies and enterprises. In the second case, international financial market participants also appear.

VEB profitability issues

Having pension savings in VEB, you definitely need to know about profitability. It is calculated based on several indicators depending on calendar periods. It is noteworthy that Vnesheconombank’s information on pension savings, namely profitability, can be found in the public domain.

Free hotline number of Vnesheconombank

Vnesheconombank is ready to promptly advise on various issues regarding the organization’s work and resolve emerging customer problems. To get in touch, just call the hotline:

• 8-800-200-42-83 – For calls within Russia;
• +7-495-981-42-83 - Moscow.

It should be noted that calls to the second telephone number are paid in accordance with the tariff plans of the city telecom operator in the region.

If it is not possible to contact the bank yourself, Vnesheconombank offers to fill out a feedback form. This can be done from any page of the site, the “Send us a message” dialog box will automatically appear on the left side, fill in the required fields with o, click “Submit” and re-confirm the operation. User support specialists will contact you at the specified contact details as soon as possible.

How to go

Pension savings will be transferred to the management company the next year after submitting the application.

You can submit an application in person to the Pension Fund, through the MFC or through government services after full registration on the website. Application forms are available on the Pension Fund website, at the MFC or in your personal account on the State Services website. When working with your personal account, an electronic signature will be required.

If you are transferring pension savings through government services, go to your personal account, follow the link “ and select “PFR” In the list of “Electronic services”, select the seventh item - “Reception and consideration of applications from insured persons in order to exercise their rights when forming and investing funds pension savings" You will be taken to the page "Management of pension savings" Then go to the tab "Selecting an investment portfolio (management company)" if your current insurer is the Pension Fund of the Russian Federation. Next, click “Get service.” Fill out the application on the website and sign the form

In this case, it doesn’t matter whether you check the “Early transition” box or not

If you are transferring from a non-state pension fund, the procedure is similar, but the form will be called “Transition from a non-state pension fund to the Pension Fund”. Indicate your NPF, in the “Where” column - Pension Fund, and below, in the “Name of the investment portfolio” column, enter the name of the management company and its portfolio, if it offers a choice. In this case, the early transition checkbox becomes an important element.

A transfer from a non-state pension fund is considered urgent when you have been there for five years and are transferring savings without loss of investment income. In 2019, a loss-free transition will be made by those who joined the NPF in 2011 or earlier. Also in 2021, you can apply for an urgent transfer if you ended up in a non-state pension fund in 2015.

Those who transferred to a non-state pension fund in 2012-2014 or 2016-2019 and submit an application to transfer a funded pension in 2021 make an early transition. If the agreement came into force in 2012-2014, five years have already passed and a new five-year period has begun, if in 2016-2019, the first five years have not yet passed. If you switch early, you lose investment income for the unfinished five-year period. To avoid untangling all of this yourself, call your fund and find out whether you will have an early transition and losses due to it.

Another option is to check the “Urgent transition” box. Then you will be transferred to the year when an urgent transfer is possible.

There is no need to conclude an agreement with the management company, since the insurer is the Pension Fund of Russia. SNILS is an analogue of an agreement between you, and you do not need to sign additional papers. You also do not need to contact the management company itself, because the account is maintained by the Pension Fund.

You can find out which NPF or which management company you are in by checking your account statement through the Gosuslugi website or on the Pension Fund website. There you will also find the number of the outgoing document on the transfer of savings.

To receive an extract through the state → “Get

The statement will tell you how long you have been with your current insurer.

Login to your personal account Vnesheconombank

For legal entities, Vnesheconombank Leasing provides the opportunity to receive remote banking services through the Internet banking system. To do this, you will need confirmed registration on the site and a personal computer with an Internet connection. The main features of Internet banking include:

• Downloading primary financial statements;
• Receiving information about the due date of the next lease payment and CASCO prolongation;
• Receiving statements of mutual settlements;
• Search for information on penalties.

Login to your personal account is available from the main page of the Vnesheconombank Leasing website https://veb-leasing.ru/. On the central banner, select “Login to your personal account”, on the new page, enter your user login information: email and password, click “Login”.

Choosing a convenient security option

Legislative changes at the beginning of 2015 provide that a pension can be provided in several ways:

• form only the insurance part of savings and abandon the funded part;
• provide for both accumulative and insurance savings.

Many people still cannot understand what each of these options represents. It's actually not that complicated.

The insurance part is a base with which a person’s future pension will be guaranteed in any case. However, its final size will depend on numerous factors, namely the situation in the state and its budget.

The funded part is organized only by professional market participants and is a mandatory part of the citizen’s future pension, if he chooses this option.

Advice! Caring for your comfortable old age should begin from the first days of employment in an official job.

Collection of answers to your questions

But a person may find himself in a more difficult situation when there are only 10-20 years of work experience left, and there are only a few entries in the work book. Even with official employment and a “white” salary until the end of your working life, it will be difficult to count on at least some kind of pension. If you find yourself in such a seemingly hopeless situation, proceed according to the following scenario

:

Usually a comparative description gives a clear idea and answer to the question - which is better? But not in our case, because these are just two proposed options for managing your funds, each of them is good in its own way. And each of them is not without certain disadvantages; it all depends on the economic situation.

We recommend reading: Youth program for affordable housing in Tambov

State management company

as of 01/01/2020

Information about the state management company

• Full name: State Development Corporation "VEB.RF"
• Short name: VEB.RF, VEB
• State registration number: 1077711000102
• Registration date: 06/08/2007
• The body that carried out the registration: Department of the Federal Tax Service for Moscow
• Address (location): Akademika Sakharov Ave., 9, Moscow, 107078, Russia
• Taxpayer Identification Number (TIN): 7750004150
• Date and number of the license to carry out activities for managing investment funds, mutual funds and non-state pension funds: -
• Duration of activity (years): —
• Telephone and fax numbers: +7,
• E-mail address
• Website address on the Internet: https://www.veb.ru/
• Availability of branches indicating their actual addresses and telephone numbers: —

Composition and structure of shareholders (participants) of the management company

State Development Corporation "VEB.RF"

VEB.RF is a state corporation, a non-membership non-profit organization established by the Russian Federation on the basis of a property contribution and created to carry out social, managerial or other publicly beneficial functions. The property transferred to VEB.RF is the property of VEB.RF.

Investment declarations

Expanded investment portfolio

Decree of the Government of the Russian Federation dated September 1, 2003 No. “On approval of the investment declaration of the expanded investment portfolio of the state management company”

Investment portfolio of government securities

Decree of the Government of the Russian Federation dated October 24, 2009 No. “On improving the procedure for investing funds to finance the funded part of the labor pension in the Russian Federation”

Investment portfolio of the payment reserve and investment portfolio of pension savings of insured persons for whom a fixed-term pension payment has been established

Registration of a personal account Vnesheconombank

Registering a new account in your Vnesheconombank personal account does not take long, and all information for the user is displayed 15-20 minutes after confirming the procedure.

Vnesheconombank personal account registration page

Registration occurs in 5 main steps:

• Conclude a leasing agreement in the regional division of Vnesheconombank (address of the central office and customer service points https://veb-leasing.ru/contacts/headquarters/);
• When concluding an agreement, indicate the full details of the organization, incl. INN and OGRN (OGRNIP) and email address;
• Submit the completed agreement to the responsible employee of the company. Its verification takes 2 business days. After the specified time has expired, the user can register;
• In the browser line, indicate the address https://cabinet.veb-leasing.ru/register and type the INN and OGRN (OGRNIP) in the special field, click the “Register” button;
• The system will automatically send a letter to the specified email address describing further actions.

Registration is completed. To simplify logging into your Vnesheconombank personal account, when logging in, the user can save the account in the browser settings.

Types of pensions

When choosing one or another pension provision option, investors have the right to use exclusively the insurance part of pension payments, or to retain the base part and additionally provide an investment base.

The insurance part is the main element with a guarantee of pension payment, the amount of which will completely depend on the economic situation in Russia at the moment and on the ratio of the number of working citizens and pensioners.

The savings part is mandatory pension savings funds under the control of investment specialists.

In the process of merging the funded and insurance parts, the highest quality option for guaranteed pension payments is obtained. This combination guarantees a pension consisting of budget and market parts, which additionally insures payments against risks.

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The first line of the rating was taken by FINAM MANAGEMENT MC, which showed the highest return on investment of pension savings for 2021. Its size was 7.49%. METROPOL UK came in second place in terms of profitability with an indicator of 6.15%, and ANALYTICAL CENTER UK came in third (5.04%).

See also: Rating of Russian NPFs in terms of reliability and profitability for the first half of 2021 “The return on pension savings for the state manager’s expanded investment portfolio was only 2.68%.

Which is better: public or private

Private management companies also work with the Pension Fund; their activities are subject to legislation and controlled by the Pension Fund and the Ministry of Finance. They annually send financial statements to the Central Bank of the Russian Federation and are subject to a full audit.

However, private organizations, unlike state management companies, have more opportunities for investment. Thus, they have the right to work with securities of a lower reliability rating, mortgage certificates, etc.

However, investments through private management companies are riskier. The Central Bank of the Russian Federation regularly “cleanses” the sector of unscrupulous players. Since 2003, 20 management companies have been closed; in 2021, the management companies Pallada and UNIVER Management lost their licenses.

The decision to change the manager of funds to a more profitable one must be balanced. However, in any case, the Pension Fund insures the annual income from investment if the client transfers his savings to a private management company. But when transferring to a non-state fund, losses can amount to up to 20% of the profit earned.

Profitability of pension savings VEB.RF

The return on investment of savings funds is calculated in accordance with Order of the Ministry of Finance of the Russian Federation No. 107n dated August 22, 2005 and is a relative indicator of the growth of funds. There are four profitability indicators:

• year to date;
• for the previous 12 months;
• for the previous 3 years;
• average (for the entire period of validity of the trust management agreement).

Information on the profitability of savings of a state management company is not classified and is publicly available on the official website of VEB.RF.

Where can I form a funded pension?

Unlike the insurance payment, which is taken into account in pension points (IPK) and only on the personal account of the Pension Fund of the Russian Federation, the funded pension is formed in monetary terms in the account of the insurer, which the citizen has the right to choose himself:

• state (PFR);
• non-state (NPF).

Both state and non-state foundations cannot manage funds. For this purpose, there are management companies (MCs). The NPF independently, without taking into account the opinions of the insured persons, selects the management company with which it enters into an agreement. The Russian Pension Fund reserves the right for citizens to choose their own management company. It could be:

• GUK (state management company);
• CHUK (private management companies).

Both State Management Companies and private management companies are legal entities that have the appropriate license to manage funds in the financial market. There are many of them, but not all of them can carry out this activity.

According to the legislation of the Russian Federation, an insured person can transfer his savings to the management only of those management companies that are annually selected based on the results of competitions held by the Federal Service for Financial Markets, and with which the Pension Fund of the Russian Federation has concluded a trust management agreement.

Recovering your Vnesheconombank personal account password

To recover your password, you must click on the “Forgot your password?” button. on the login page. In the new window, enter your email address and select “Recover.” The Vnesheconombank Internet banking system will automatically send a letter describing further steps to recover your password.

Recovering the password from your Vnesheconombank personal account

Values

Values ​​are the frame of reference for any organization. VEB's strategy is consistent with new values. We held a broad discussion and together developed the values ​​that will lead VEB.RF into the future.

Development We see significant tasks ahead of us in transforming VEB.RF. At the same time, we not only have to “catch up” with the best practices of financial institutions, but we also see an opportunity to create advanced solutions for clients.

Leadership Achieving the goals of the Strategy is impossible without dozens and hundreds of VEB employees taking responsibility for the result, solving problems despite difficulties and obstacles, and showing initiative.

The partnership between VEB.RF and clients should be truly partnership-like. Partnership means a deep understanding of the client’s business and needs and the ability to jointly create a complete solution for the success of the project.

Team Success requires teamwork. The team as a value means for us mutual assistance and mutual assistance, lack of formalism, the ability to listen, and a constructive approach.

Honesty VEB.RF works with financial resources entrusted to us by the state and investors. To maintain trust, we comply with professional ethics, we are transparent in our work and do not leave room for corruption.

The patriotism of VEB.RF is not just an investor; we must not only ensure the return and profitability of invested funds, but also ensure the maximum positive effect from our investments for the Russian economy. We are proud that our work makes the country better!

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   Until December 31, 2021, citizens born in 1967 and younger must choose a pension option for themselves - keep only the insurance part of the pension and refuse the funded one, or keep both parts of their future pension. Insurance part + Savings part Insurance part The insurance part is the basic form of state pension provision.

How to place the funded part of your pension at Vnesheconombank

Since when choosing the State Institution “Vnesheconombank” the insurer is the Pension Fund of Russia, you only need to submit the corresponding application to the territorial branch of the Pension Fund of the Russian Federation. This can be done either in person or by post (in this case, copies of documents must be notarized). In addition to the application to the pension fund, you must submit:

• insurance certificate (SNILS);
• identification document (usually a passport of a citizen of the Russian Federation).

It is also allowed to submit documents through an official representative (authorized person). In this case, you will additionally need a document certifying the identity of the authorized person and a corresponding document that confirms the right of the representative to act on behalf of the insured person (for example, a power of attorney).

Both those who are just planning to create a future funded pension and those who have already accumulated a certain amount in other companies can entrust their savings to Vnesheconombank. In the second case, the legislation of the Russian Federation allows at least a year to transfer savings under the management of the State Management Company.

This can also be done by insured persons who have chosen a non-state pension fund as their insurer. However, in this case, the insurer will be changed, that is, the citizen will transfer his funds from the NPF to the Pension Fund. And this can lead to loss of investment income. Therefore, it is necessary to switch from a non-state fund to a state fund no earlier than after five years.

When choosing the state management company Vnesheconombank, a citizen must also choose one of two investment portfolios offered by the company.

Selecting an investment portfolio and placing funds

The investment portfolio represents assets that were formed at the expense of funds transferred to the Pension Fund of the management company under one agreement. These funds are separated from other assets, and the portfolio is formed in accordance with the investment declaration.

State Management Company “Vnesheconombank” offers two investment portfolios for insured persons to invest their savings:

• Basic portfolio of government securities (GS);
• Expanded investment portfolio.

The government securities portfolio consists of government securities of the Russian Federation and bonds of domestic companies, as well as funds in rubles and foreign currency guaranteed by the Russian Federation. The expanded investment portfolio also includes mortgage-backed securities and bonds of international financial organizations. Remedies of the “silent”

were automatically transferred to the expanded GUK portfolio.

The management company separates investment portfolios, which are formed from pension savings, from other property (including its own), and opens separate accounts for each (with the Bank of Russia, credit institutions, etc.).

Activities of VEB.RF in relation to pension savings

The state management company from 2003 to this day is VEB.RF (formerly it was called Vnesheconombank). The main task of a state company, like any other management company, is to invest pension savings, which are transferred to it by the Russian Pension Fund.

Despite the fact that VEB.RF is a state management company, it cannot guarantee a pension increase. The income of the State Management Company (like any management company) is the result of investing savings, and there can be both profit and loss. In the event of a loss, a citizen will be able to receive only the amount that was contributed by him and his employer.

In accordance with Article 26 of Federal Law No. 111-FZ of July 24, 2002, it is allowed to place funds only in low-risk assets (government securities of the Russian Federation, shares and bonds of Russian issuers, etc.).

The funds of savings are under the management of the management company:

• citizens who consciously entrusted the formation of their pension to the State Administration of Ukraine;
• “silent people” (those who have pension savings, but have never entered into an agreement with anyone).

VEB.RF is a 100% state corporation , that is, it does not have membership in a non-profit organization.