摘要：The greater part of the funded component of the mandatory pension system, as before, is accumulated by
a government asset manager (GAM), whose functions are performed by the USSR Bank for Foreign Trade
(Vneshekonombank). As of the beginning of 2006, the value of the pension savings invested by the government
asset manager amounted to 176.5 billion roubles, while the total volume of pension savings administered
by private asset managers (PAM) was 5.6 billion roubles (3 %). Another 2 billion roubles (1 %) was
transferred by citizens to the Non-Government Pension Fund (NGPF).
