Renaissance Insurance Group intends to create its own non-state pension fund (NPF) – Renaissance Accumulations. In five years it is planned to attract 1 million clients and 100 billion rubles in additional assets, RBC has learned.
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The fund is being created from scratch, its registration with the Central Bank is expected and the launch of products on the market is possible before the end of this year. The NPF is planned to be financed with the group’s own funds, but the size of the investments is not disclosed.
The pension fund will focus on savings products under the long-term savings (LTS) program, which was launched in Russia in early 2024. Currently, only non-state pension funds can be operators of the program.
In February, the T-Bank group (formerly Tinkoff) announced plans to create its own pension fund. The bank then registered four domains that mentioned the “NPF” combination.
There are currently 11 pension funds operating in Russia: Sberbank, Gazfond and Region Group were among the first to join the program.
Author:
Karina Pardaeva
Source: RB
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