Superannuation
At the present time the enterprises aimed at the long-term presence in the market consider not only the matter of business efficiency improvement but as well develop social security system of their employees. The development of nongovernment retirement programmes for the employees can be one of the directions of social policy of business. Such programmes imply transfer of the company funds to the retirement accounts of some top managers or valuable professionals who after retirement will get additional money, accumulated by their enterprise. Depositing funds into retirement accounts in the NPF «REGIONFOND» the enterprise creates a basis for well-being of their employees in the dependent age.
The accumulative pensions-to-be is in the fact a form of employee wage investment and a real compensation of the income lack in their old age.
At the same time retirement depositing is more efficient using of company funds due to tax savings and the opportunity to finance the company investment programmes on the long-term basis. The existing legislation provides a number of tax benefits concerning the pension contributions into NRF:
- pension contributions can be included into the net cost (wage costs) within 12% of the total payroll, at the same time reducing the profit tax (Art. 255 NK RF);
- pension contributions of the enterprise are free of personal income tax (Cl. 1 Art. 213.1 NK RF);
- investment income of the Fund, increasing depositor’s pension contributions are exempt from income tax within the refinancing rate of the Central Bank of the Russian Federation (Art. 295 NK RF);
- pension contributions are exempt from single social tax if they are payed from the net profit of the company (Cl. 3 Art. 236 NK RF).
According to social policy of the company the retirement programmes can meet the following challenges:
Higher social security of the employees. The additional monthly payments of the nongovernment pension provide the company employees and labour veterans after retire with extra money and raise income level of the employees with low or medium size wage who can’t save enough money for the future pension on their own.
Motivationoftheemployeesandbuildingthecorporateculture. The long-range planning of the pension benefits to the retired employees is an indicator of the company social responsibility. It makes the company more attractive for the qualified professionals and builds the team.
Providing human resources, getting and consolidation of top qualification employees at the enterprise, higher work motivation, advancement and growth encouragement of senior officials.
Retirementstimulationofworkingpensionersandstaffreplacement. Nongovernment pensionary payments deliver the elderly people from frustration of social status changes and reduced endowment.
Solution of financial tasks due to the tax base optimization.
For realizing the corporate retirement programmes NPF «REGIONFOND» offers two ways of pension funds accounting:
On personalized pension accounts of the Fund members: pension contributions of the company-depositor or individual enter into personalized pension accounts of the Fund members (company employees). Annual revenue is accrued to every personalized pension account. Annual recalculation of the nongovernment pension takes place on the basis of collected revenue and terms of scheme chosen.
On a joint account of depositor – legal entity: pension contributions enter into a joint depositor account without allocation over the employees’ accounts. After retirement of the employee the employer orders the Fund to pension, to set the amount of payments within the funds saved on the account. Annual revenue is accrued to the total amount of funds on the joint account. The scale of employee pension is set only after his retirement.
NPF «REGIONFOND» in cooperation with the Bank Evropeisky are always opened to partnership and ready to become a reliable partner in realization of the programme of supplementary pension security. For more details please address to our senior specialist of Department of the individual financial services Usoltsev Ilya Viktorovich under the phone. (+7 4012) 995 643.
Summary
NPF «REGIONFOND» has undertaken successful activities in nongovernment pension security since 2000. Due to the main indices of its activity the Fund is among the largest nongovernment pension funds of Russia.
In October, 16 in 2006 Rating agency «Expert RA» awarded the nongovernment pension fund «REGIONFOND» rating of reliability «À+» (high reliability – the first level).
In October, 23 in 2009 the «National Rating Agency» confirmed the earlier awarded rating «À+» to NPF «REGIONFOND».
