Yield pensions Russians have dropped dramatically

Vnesheconombank Income from the investment of pension accruals for January-March 2011 amounted to 11.973 billion rubles., According to a press release from the State Bank. Compared with first quarter 2010 earnings VEB declined by 36.8%. Then the state corporation income amounted to 18.938 billion rubles. For the entire 2010 state bank received income from the investment of pension Russians to 48.8 billion rubles. Vnesheconombank not yet calculated return on investment of pensions as a percentage of the January-March 2011. In 2010, the yield was 7.62% on the expanded Investment Portfolio and 8.17% on investments in government securities. Thus the yield of Russian pension was below the inflation rate (8.8% in 2010). Earlier, in 2009, returns to pension investments of the State Bank was 9.52% at the same level of inflation 8,8%. Recall Vnesheconombank manages pension savings of Russian citizens, not transferred their pension contributions in the management of private management companies. All under the control of the VEB is about 90% of pension savings of Russians.