Microfinance institutions (MFIs) have joined the struggle of non-state pension funds (NPF) for the savings of citizens, the newspaper “Kommersant” with reference to independent pension agents and brokers. They argue that MFIs are quite aggressive, offering its services to NPF with a solid discount to the average market values.

Typically, rates with the pension funds amount to 1,5-2,5 thousand roubles for the client depending on the value of his account. According to one pension brokers, MFI lower limit is 700-800 rubles per set of documents.

Another broker suggests that rates of MFIs in attracting customers in OPS are often comparable with the market, since they depend on several factors such as volume of contracts per month, age and occupation of customers, the proportion of “refusals”.

As of September 1, citizens filed to the FIU more than 3.6 million applications for the transfer of pension savings, and, in contrast to the same period last year, the volume of transitions from the PFR to NPF, and between non-state funds were matched.

The experts that talked to the publication, saying that MFIs can provide massive recruitment, however, such a channel has a number of disadvantages, chief of which small medium-sized customer accounts.

So, according to the General Director “VTB Pension Fund” Larisa Gorchakovskaya, cooperation with IFIs is also associated with the risk of possible irregularities in the paperwork, not notifying the citizens about the possible loss of investment income during the early transition, the lack of digital signature.

According to the head of the MFI of the top ten by number of clients, organizations are actively looking for new forms of interaction with the NPF. In some schemes the Commission is not provided at all, and the interest of MFIs is not a Commission, and in the attracting of liabilities, for example through the redemption of bonds of the MFI.

Managing Director of corporate ratings RAEX Pavel Mitrofanov has reminded that the MFIs market much less regulated compared to banking and insurance, and in this regard, it is possible to predict the increased reputational risks NPF-cooperation with the sales networks of MFIs.

The General Director of consulting company “Pension partner” Sergey Kolesnov did not rule out that in search of a loan to MFI clients often request several of these organizations, and with high probability to obtain the credit, the citizen will consent to the transfer of pension savings.

However, according to experts, this decision is unlikely to be conscious. Therefore there will always be risks subsequent review of such statements, complaints of citizens on wrongful transfer or duplicate statements in several NPF.

Microfinance institutions (MFIs) in Russia, called the legal entity in the form of Fund, Autonomous non-commercial organization non-commercial partnership, partnership or business entity that provides to borrowers a loan in the amount not exceeding 1 million rubles. MFIs can issue loans to small businesses, individual entrepreneurs and citizens.

Such organizations are often mentioned in a negative context, in particular because of the loans “to pay” or with a daily accrual of interest on balance with rates at times exceeding Bank dozens of times, as well as abuse of the weak financial literacy.

In addition, MFI is known that not trying to sell “bad” debt collectors, as the average discounts of approximately more than 90% of face value, and try to extract maximum profit at the expense of “restructuring loans”.



Kommersant: microfinance institutions involved in the fight for pension savings of Russians 11.10.2016

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