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Consumer Protection | Investing in Voluntary Pension Funds

Investing in Voluntary Pension Funds

Voluntary pension funds (VPFs) are a form of long-term savings for the old age. Every citizen is free to decide on membership and the level of contributions to be paid into a VPF. VFPs are used exclusively for long-term savings and are under strict supervision of the NBS. By investing in a VPF, you can earn extra pension. Regular pension is in no way connected to these investments.

Before you become a VPF member, we advise you to collect and compare data on several VPFs. Information on VPFs can be obtained in the offices of the fund management company and from their agents. The main source of information is the prospectus of a VPF. Be sure to read the prospectus. Do not rely on advertising material alone. Be cautious with regard to examples of pension amounts – ask about returns and fees used in the calculation and judge whether they seem realistic to you.

The level of your funds in a VPF is not guaranteed, but depends on the level of contributions you choose to pay, and on the frequency and duration of payment periods, returns earned by the VPF and fees charged by the VPF management company. If a VPF to which you contribute fails to meet your expectations, you can transfer funds from your individual account to another VPF.

For further information about VPFs, please dial the Call Centre of the National Bank of Serbia.