OREANDA-NEWS. April 27, 2009. Sberbank is to tap the mandatory pension insurance market, with a value estimated at RUB 400 bn, via its own private pension fund. However, the project envisages using the bank’s entire retail chain. Other private pension funds do not have such capabilties and Sberbank’s fund has every chance of gaining leadership on the market and accumulating tens of billions of rubles, a business daily reported Monday.

President of Sberbank’s pension fund Galina Morozova told the business daily that the fund had signed a cooperation agreement in the mandatory pension insurance segment, which enables every individual to enter intol an agreement for the provision of mandatory pension insurance services by Sberbank’s private pension fund at any of Sberbank’s retail outlets. Individuals can also apply to join the system of co-financing of pension accruals and make additional contributions as part of this system.