Due to the termination of the funded pension management agreement with the Otkritie private management company in December 2025, the Social Fund transferred the pension savings of 4,300 thousand citizens to the government-owned management company VEB.RF (the Extended investment portfolio).
Former Otkritie clients can leave their funds in the specified investment portfolio or transfer them to the Government Securities portfolio. On top of that, citizens can switch to another savings fund or select a private management company to form their savings while maintaining the Social Fund of Russia as their insurer.
In order to choose a management company or an investment portfolio, as well as to change the insurer to a non-governmental pension fund, an application has to be submitted to the Social Fund on the Public Service Portal or through the Social Fund's client offices.
As a reminder, the income accumulated on pension contributions is preserved on a transfer to another fund only if such a transfer occurs no more than once every five years. If five years have not yet expired since the last transfer or lock-in, the investment income will be lost.
Presently, the Social Fund has pension savings management agreements with 11 management companies, including VEB.RF. In addition, 24 private pension funds provide mandatory pension insurance services. You can find information about management companies and private funds on the Social Fund website.