In February 2007"Northern Capital" Branch of Raiffeisenbank in SaintPetersburg concluded Agreement on Mutual Authentication of Signatureswith the local branch of the Pension Fund of Russia.
Under the Agreement"Northern Capital" Branch is entitled to acceptapplications from insured individuals to choose investment portfolio (ofa management company), to switch from the Pension Fund of Russia to anon-state pension fund, to switch from a non-state pension fund to thePension Fund of Russia, to switch from one non-state pension fund toanother non-state pension fund. The Bank verifies the authenticity ofthe personal signature of the insured person and submits applications tothe Pension Fund of Russia.
Roger Delous, Director of Saint Petersburg Branch, pointed out:"It isthe second year in a row that our Branch has become a transfer-agent ofthe Pension Fund of Russia, and we observe increasing involvement ofcitizens in the formation of the cumulative part of labor pensions. Atpresent the pension issue becomes more and more urgent and we welcomeour close cooperation with NPF Raiffeisen which is our partner both inmandatory and non-state pension insurance.
On March 21 this year, in Saint Petersburg,"Northern Capital" Branchalong with NPF Raiffeisen will arrange a workshop for Russian andinternational companies of the North-West region where such urgentissues as implementation of corporate and individual pension programswill be covered.
"Northern Capital" Branch of ZAO Raiffeisenbank Austria in SaintPetersburg is represented by five offices which are open from Monday toFriday from 9 am to 8 pm as well as on Saturday from 10 am to 5 pm; theoffices are equipped with ATMs which can receive cash and are available24/7:
Non-State Pension Fund Raiffeisenis among the mostlydynamically developing mutual non-state pension funds in Russia,offering programs of non-state pension provision for corporate andindividual clients. Furthermore, NPF Raiffeisen participates in theformation and payment of the cumulative part of labor pensions undermandatory pension insurance. At present NPF Raiffeisen serves over 23200 individual customers and over 80 corporate clients.
"Raiffeisen” Pension Fund was set up by ZAO Raiffeisenbank Austria, an affiliate of Raiffeisen Internazional Bank Holding AG (Raiffeisen Internazional), with subsidiary banks and leasing companies in 16 CEE markets. The Bank serves 11.7 million customers at more than 2,775 business outlets, and also has representative offices in Lithuania and Moldova. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent of the common stock. The remaining 30 per cent is free float; the sharesare traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country''s largest banking organization.