Russian pensions 'opening up'

By Helen AveryNovember 2002 (Magazine)

Pension system reforms in Russia and the CIS could open doors to those countries for foreign fund managers. Russia has been tackling the issue of non-state pension funds reform for 10 years. Introduced only in 1991, by 1993 there were already 1,000 non-state schemes. As tough requirements were introduced, however, this figure shrank. As of 2001, there were 268 non-state pension funds in Russia with e1.6bn in total assets.