Magistral

Non-state pension fund for railway workers and road builders

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Historical yield

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Yield performance

As of

Fund portfolio

As of 30.09.2022

Government bonds
48.7%
Corporate bonds
15.1%
Deposits & Cash assets
27.1%
Municipal bonds
3.8%
Equity
4.4%
Other assets
0.9%

Fund costs

In annuals
OTP Capital Asset Management Company
1.8%
Administrator of the pension fund "ACPO"
0.833%
Custodian Bank of PJSC “UkrSibbank”
0.365%
Other fees
Fees are related to the payment of audit services, securities traders, accounting and re-registration of property rights, as well as services for servicing the assets of the pension fund, including notarial services.
0.9%

Risk profile of the fund

Risk level:
1
2
3
4
5
6
7

This level of risk does not necessarily remain the same and may change over time.

We also draw the attention of investors to the fact that the lowest level is also not a risk-free investment.

Comment

Yuriy Oleksiyenko
Head of Investment Department

In September, Ukrainian securities market demonstrated certain signs of stabilization and balancing: government bond yields on 17%-20%, corporate bond yields – 20%-25%. Eurobonds and Cash FX got a negative effect from the russian mobilization. Stock market was volatile again.

“Magistral” fell by 2.4% n September.

as of 30.09.2022

Service companies

The Fund is administered by:
Limited Liability Company "Administrator of the Pension Fund" Center for Personalized Accounting "
USREOU identification code:
33193408
State registration:
№1071­1050­0160­00611 від 13.07.2011
License of NSASMC:
AB No. 115988 issued August 14, 2008
Validity:
unlimited
The Fund's assets are managed by:
Limited Liability Asset Management Company "OTP Capital"
Identification Code:
35290039
State registration:
No. 10701050076036864 dated 10/18/2012
License of NSASMC:
AD No. 075876 issued on 09.28.2012
Validity:
from 09.29.2012 - unlimited
Custodian of the Fund's assets:
Public Joint Stock Company "UkrSibbank"
Identification Code:
09807750v
State registration:
No. 14801050060005624 from 08.23.2012
License of NSASMC:
АЕ No. 286558 issued 08.10.2013
Validity:
from 12.10.2013 - unlimited

Documents and reporting

FAQ

How does the NPF work?

Individuals and/or companies make voluntary contributions to the member’s pension account. Assets are accumulated and grow at the expense of investment profits. Upon reaching the retirement age, the pensioner is paid pension benefits. During the period of pension payments, the balance still continues to generate profits.

What does the size of future pension payments depend on?

The amount of payments (pensions) depends solely on the amount of accumulation accounted at the member’s pension account at the time of appointing payments and payment time. In order to make savings work more efficiently, it is desirable to begin to make pension contributions as early as possible — a longer period of time for contributions and an increase in pension funds at the expense of the compound interest will allow you to get a larger investment income. Even small contributions done for a long time allow to accumulate the good capital.

The future pension can be calculated with the help of the “Non-State Pension Calculator”.

What legal form are the NPFS created in?

The non-state pension fund is a legal entity that has the status of a non-profit organization, operates and carries out activities exclusively for the purpose of accumulation of pension contributions of contributors in favor of the pension fund members with the further management of pension assets and performance of pension payments.

Who manages and serves the NPF?

The fund’s Board is the management body that controls the current activities of the fund. The Chairperson and members of the fund’s Board take special training and receive certificates of specialists in non-state pension provision and periodically confirm their qualifications. The fund’s Board concludes contracts:

  • on administration (registration of contributors and members, keeping personal accounts, reporting and pension accounting with the NPF’s administrator;
  • on asset management (investment of funds for the purpose of their augmentation) with an asset management company;
  • on saving of assets (opening and maintenance of accounts, saving of the fund’s assets) with a custodian bank.

Learn more about service companies of the “OTP Pension” fund.

Who controls activities of the fund and the companies that serve it?

There is a strict state control of NPFs by regulators. The Fund and each of the service companies are subordinated to its supervisory body.

The control over the fund’s activities is carried out by the National Commission that carries out state regulation in the field of financial services markets, the control of the asset management company is carried out by the National Commission for Securities and Stock Market, the control of the activities of the custodian bank is performed by the by the National Commission for Securities and Stock Market and National Bank of Ukraine.

In addition, non-state pension fund and service companies should undergo independent audits annually.

Will the accumulation be affected in the event of an unstable position of a service company?

The funds of the pension fund are accounted separately from the funds of service companies. Therefore, in case of problems with the administrator of the fund, asset management company or custodian bank, their insolvency or bankruptcy, funds of the fund’s members will be saved and transferred to another company.

Is bankruptcy of the NPF and loss of savings possible?

Protection of savings is ensured by the legislation and strict control of the fund’s activities by the state. The NPF is a non-profit organization and cannot be declared bankrupt with a further suspension of liability towards its members. The law provides for a special procedure for transferring funds from one NPF to another NPF and eliminating the possibility of a loss of pension funds by a member.

Who can be a NPF'S member?

An NPF’s member can be any person: who is a citizen of Ukraine, a foreigner or a stateless person.

Who can make contribution in favor of the members?

The contributor may be both individuals (for themselves, spouses, children or parents) and legal persons (employer or professional association, the member of which is the fund’s member).

Are there any age limits for membership in the NPF?

The minimum and maximum age of the member is not limited by law. For example, the age of the youngest member of the “OTP Pension” fund is 1 year, and the oldest member is 91 years old.

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