The Central Bank of Russia published its Review of Key Indicators of Non-governmental Pension Funds for 2025 Q2, reporting that non-governmental pension funds’ (NPFs) pension portfolio amounted to almost RUB 9 trillion. Pension reserves increased by 7.3% to RUB 2.5 trillion, supported by higher investment income and inflows into non-governmental pension schemes and the long-term savings programme. Pension savings rose by 3.2% to RUB 3.5 trillion, driven by investment income. Weighted average returns, before payment of NPF remuneration, reached 15.5% per annum on pension savings and 19% per annum on pension reserves. During the quarter, NPFs mainly bought fixed-coupon federal government bonds and expanded equity holdings, reflecting expectations of further price growth in stock and bond markets amid a decline in the key rate.
Central Bank of Russia 2025-08-29
Central Bank of Russia reports non-governmental pension funds’ pension portfolio near RUB 9 trillion as reserves and savings rise in 2025 Q2
The Central Bank of Russia's Q2 2025 review shows non-governmental pension funds' portfolios nearing RUB 9 trillion, with pension reserves up 7.3% to RUB 2.5 trillion due to increased investment income and inflows. Pension savings rose 3.2% to RUB 3.5 trillion, with average returns of 15.5% on savings and 19% on reserves. NPFs increased holdings in fixed-coupon federal government bonds and equities, anticipating price growth amid a rate decline.