Penza, 28 August 2016. PenzaNews. The residents of the Penza region must be wary of agents of private pension funds, calling on citizens to urgently transfer the savings there, so as not to lose them in the next year, the statement of the Russian Pension Fund in the region urges in connection with the frequent complaints of the regional residents.

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“The complaints state that in banks, insurance companies and in other places the citizens are persistently demanded to transfer their retirement savings to a variety of non-state pension funds. Agents of NPFs go from door to door and present themselves as the employees of the Pension Fund of Russia. They all give a single reason — if one does not transfer their savings to NPF, the next year the state will take them to pay to the current pensioners. The regional department of the Russian Pension Fund informs that these words have no relation to reality,” the statement says.

It explains that the savings are invested, regardless of where they are formed, and are paid after a person's retirement.

“Whether to transfer the savings to NPF or not is the individual right. One must decide who one trusts more when it comes to the future pension — the state or private companies. If one decides to transfer retirement savings to NPF, take the choice of the fund responsibly. Selection should be done deliberately, do not sign the documents when applying for a job, taking a loan, buying a mobile phone and so on. Do not forget that if one change the pension fund more than once in five years, the money is transferred without taking into account investment income. This is not profitable,” the regional Pension Fund statement informs.