Figure1. Dynamics of quantity of NPFs in the Russian Federation [3, P. 40]

The structure of an investment portfolio of the Russian NPFs following the results of 2014 is provided in the figure 2. Generally it consists of deposits and cash money accounts in credit institutions (about 41%), and also bonds of the Russian issuers (about 36.2%). According to the data of the Central Bank of the Russian Federation as of 01.08.2015 the share of a bank deposits and a cash bank accounts was reduced to 35.4% inside of an investment portfolio. The share of the bond of the Russian corporate issuers grew and made 38.2% of a portfolio. Besides, the part of shares grew (it made 8.6% of a portfolio) [4].

Figure 2. Structure of a total investment portfolio of NPFs by the end of 2014 [3, P. 40]

Dynamics of the main activity indices of NPFs is positive, in particular, the value of equity capital, the volume of pension accruals and pension reserves (figure 3), the number of participants and the insured persons grows stationary (a figure 4).

In the figures 3 and 4 growth of the citizens’ activity regarding cooperation with NPFs in the first half of 2015 is well shown. So, according to Pension Fund of the Russian Federation (in abbreviated form is RPF) during the period from January to June 2015 477.6 thousand  assertions to change the RPF for NPF and 407 thousand assertions to change one NPF for another NPF [5]. Thus, despite aims of State authorities, the prohibition to make decision about changing the PFR for any NPF after 2015, more promoted to rise interest of the citizens in NPFs. As the reason of high activity also can serve traditionally low profitability of the State management company of Vnesheconombank (in abbreviated form is VEB). For the first half of the 2015 it made 12.2% on an expanded portfolio, it is below than official inflation rate).

Figure 3. Dynamics of indices equity capital, pension reserves, pension accruals, thousand rubles [3, P. 41]

Figure . Dynamics of number of participants of NPFs in the Russian Federation [3, P. 41]

Thus, in 2015 the role of NPFs the major indices of their activities increased, despite a financial crisis in Russia economy and in pension system, in particular. Pension reform does not completed, because today many questions according to it are discussing. The pension accruals are a basic element and a factor of development of non-state pension system in Russia. Therefore, it is important to save system of mandatory funded pension, and also to save a possibility of citizens to choose NPFs.