In the course of different pension reforms, the activity of the non-state pension funds becomes more dynamic, and requires new technological ideas for their full-fledged functioning. Therefore, the role of a pension manager becomes considerably more important. Having such opportunities, the pension manager suggests that non-state pension funds should assume the duties of pension accounts management and informational support. It is the company-manager who helps to provide non-state pension funds with a worthy partner who has financial and technical opportunities for realization of its functions.

Pension fund managers have been practicing worldwide for quite a long time. Moreover, they take the leading part in the pension systems of some countries. The pioneer of non-state pension funds management in the Russian market is the Management Company LLC "Pensionniy Kapital" ("Pension capital").

Currently, LLC "Pensionniy Kapital" ("Pension capital") manages NSPF "LUKOIL-GARANT", NSPF "Pensionniy Kapital" ("Pension capital"), NSPF "Perviy Pensionniy Fond" ("the First pension fund"), and NSPF "Kubanskiy Pensionniy Fond" ("the Kuban pension fund"). Pension Capital plans to expand its managed funds portfolio.

In July, 2005 LLC "Pensionniy Kapital" ("Pension capital") received a Certificate of Conformity with the specification of GOST R ISO 9001-2001 (ISO 9001:2000). This confirms guaranteed high quality services in the field of non-state funds management in projects, however complex.

About NSPF "LUKOIL-GARANT"

Non-State Pension Fund "LUKOIL-GARANT" (federal license № 11/2 dated 29.06.2006) has been in the financial market for more than 13 years.

The Moscow Registration Chamber registered a Closed Joint-Stock Company called Non-State Pension Fund "LUKoil-GARANT" on 19 July 1994. On 27 October 1995 Non-State Pension Fund Inspection under the Ministry of Social Protection of the Russian Federation Population granted "LUKoil-GARANT" license № 11 for implementing non-state pension coverage for citizens. On the 13-th of December in the same year the form of legal entity incorporation of the Closed Joint-Stock Company called Non-State Pension Fund "LUKoil-GARANT" was changed. And the nonprofit institution "Non-State Pension Fund "LUKOIL-GARANT" was registered by the Moscow Registration Chamber (registration certificate № 001.925-У).

Non-profit organization (NPO) NSPF "LUKOIL-GARANT" provides extra pension coverage and also acts as an insurer of obligatory retirement insurance and professional retirement insurance. The Fund is managed by the company "Pensionniy Kapital" which is part of the Financial Group "IFD Kapital".

Social protection of each citizen and heavy investment income support with strict adherence to the legislative norms and restrictions are the main targets of the activity of our Fund.

"LUKOIL-GARANT" is one of the leaders among non-state pension funds in terms of volume of the pension accruals in management. The total number of the Fund's clients is over a half of a million. The "LUKOIL-GARANT" representatives work in 50 regions of the country.

In 2006 more than 120,000 people transferred their pension savings to our Fund. By 01.07.2007 the general number of citizens who entrusted the formation of a funded part of labour pension to the Fund had reached about 330,000 people. Furthermore, as of today, more than 265,000 people have saved heir additional (non-state) pension in our Fund. And more than 25,000 people receive their extra pension in "LUKOIL-GARANT".

According to the "Expert RA" Rating Agency, "LUKOIL-GARANT" has the highest level of reliability and success (or A++ mark). In February, 2007 at the International Assembly of economic, cultural, scientific and technical cooperation, the Fund received the diploma "For major contribution to the national economy and international business cooperation development." In the previous year, "LUKOIL-GARANT" won the "Financial elite of Russia" prize in the "Most Reliable Pension Fund" category. At the regular awards ceremony, In April the Fund was declared the winner in the "Best Non-State Pension Fund" category.

The Fund and its Management Company's policy is not only to protect pension savings from inflation but also to ensure for substantial growth. The Fund's financial records prove it has met the policy. According to the results of the activity of the Fund in 2006, the citizens who made an obligatory retirement insurance treaty with the Fund in 2004-2005 have received 15.18 per cent per annum (PCPA). The investment income of the individual investors of the Fund was 15.28 PCPA under the non-state pension coverage plans.

"LUKOIL-GARANT" activity is strictly controlled by the Government. The Fund's reliability, and its conformity with world standards is confirmed by the largest world auditing companies such as "Pricewaterhouse Coopers" and "Callund Consulting." The Fund's own property is over 36.5 billion rubles, which is three times higher the sum of all accepted pension obligations.

One of the significant events of the Fund was the new pension plan launch. These new special pension plans are meant for the various categories of citizens. Plans such as "Synoviy dolg" ("Children's duty"), "Zabota o blizskom cheloveke" ("Care for the close relatives") and "Komfort" ("Comfort") allow to provide the relatives-pensioners (or future pensioners) with an extra income. Pension plans for children such as "Perviy shag" ("First step") and "Million rebenku" ("One million to a child") give a chance to think of an extra pension for a child as soon as possible. It helps to accumulate quite a big sum of money by means of an extra investment income. Other plans, such as "Moya nezavisimaya pensia" ("My independent pension"), "Nakopitelnaya" ("Accumulative"), "Monetniy dvor" ("Mint"), and "Moy stil" ("My style") provide the investors with an extra income during their retirement years.