VEB.RF reports 16.56% annualised return on pension savings portfolio
VEB.RF reported a 16.56% annualised return on its expanded pension savings portfolio for the first nine months of 2026. Its government securities portfolio returned 14.97% on the same annualised basis, the corporation said on October 14.
These are rates expressed on an annual basis, rather than the percentage increase earned solely between January and September. VEB.RF acts as the state management company for citizens’ pension savings.
Rosstat figures cited in the report put January–September inflation at 5.04% and annual inflation at the end of September at 6.35%. Alexander Popov, managing director of VEB.RF’s Savings and Development Investments division, said returns for roughly 36 million future pensioners exceeded inflation by more than twice.
Popov said VEB.RF increased holdings of federal government bonds and bonds issued by major companies during the third quarter and throughout the year. He described these investments as reliable and attractive in yield terms. That is the manager’s assessment rather than a guarantee of future performance.
VEB.RF manages savings for people who neither selected a private management company’s portfolio nor transferred their savings to a non-state pension fund. It also manages funds for people who expressly selected one of the state management company’s portfolios.
Combined assets in VEB.RF’s pension portfolios stood at 2.9 trillion roubles at the end of the first half of 2026. That valuation relates to June rather than the end of September.
