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Raiffeisenbank complies with all transfer agents requirements of thePension Fund of Russia.

Early in October, the Moscow& the Region Department of the Pension Fundof Russia (PFR) conducted a scheduled inspection of ZAO RaiffeisenbankAustria to check compliance with PFR transfer agents requirements.Director of Non-State Pension Fund (NPF) Raiffeisen Yelena Gorshkovasaid,We are particularly pleased to receive acknowledgement of our excellent performance in delivering services to policyholders, and high-level expertise of our staff that works with holders of mandatory pension insurance.

The following areas of the companys operation were checked by the Pension Fund of Russia:

  • compliance with the procedure for confirmation signatures onpolicyholders applications;
  • registration log records of signature authentication measures taken;
  • availability of information necessary to enforce the policyholders right to choose the investment portfolio, or transfer funds from PFR to an NPF; from an NPF to another NPF; and from an NPF to PFR, as well as updating of the customers details;
  • matching of electronic templates with respective paper forms;
  • compliance with deadlines defined for reporting of electronicapplications of policyholders to the respective PFR department as perthe Agreement on mutual authentication of signatures;
  • reliable archiving and storage of applications from individualpolicyholders.

On the banks side, Chairman of the management board at ZAO Raiffeisenbank Austria Johann Jonach explained that the service excellence is achieved, amongst other factors, through fine-tuned interaction process well defined for all market participants by PFR.

Investments into mandatory and private pension provisioning are an area of priority for the Raiffeisen Group in Russia, said Mr Jonach. We are planning to further the service quality effort in the area of pension insurance, and expect that close interaction between thebank and Non-state pension fund Raiffeisen will add more value for our customers who will appreciate it.

NPF Raiffeisen was founded by ZAO Raiffeisenbank Austria. ZAORaiffeisenbank Austria is subsidiary of Raiffeisen InternationalBank-Holding AG, which operates one of the leading banking networks inthe EU, with subsidiary banks and leasing companies in 16 markets acrossCEE. Eleven million customers are serviced through over 2,700 businessoutlets. Raiffeisen International is a fully consolidated subsidiary ofRaiffeisen Zentralbank Oesterreich AG (RZB), which owns 70 percent ofthe share capital. The remaining 30 percent of the shares are traded onthe Vienna Stock Exchange. Core of the biggest Austria-based bankinggroup Raiffeisen, RZB is a leading corporate and investment bank inAustria.


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