The Fund received information regarding a new commission policy implemented by Raiffeisen Bank in the Russian Federation a few days ago. This policy will be effective 20 June 2023 and imposes a 50% charge on incoming US dollar transfers, with a maximum limit of 500 US dollars. Given the little time between this notice and the June 2023 payroll closing, the Fund has only been able to suspend small pension payments up to 1,100 US dollars prior to the June 2023 payroll closing.
For the other payments above this threshold, the Fund will be collaborating with its banking partner, the United Nations Treasury, to cancel all June 2023 payments to Raiffeisen Bank in the Russian Federation to protect the beneficiaries from these charges.
Furthermore, this week the Fund will send an email to all affected retirees and beneficiaries who provided their email addresses to the Fund. The email will provide information on potential measures to mitigate the impact of Raiffeisen’s new commission policy.
If you wish to keep your payments with Raiffeisen Bank despite the high bank charges, you should reply to our individual email or contact the Fund via the Contact Us webpage. You may also opt to continue receiving your benefit at your Raiffeisen bank account and consider a different payment cycle to reduce charges.
Beneficiaries who have bank accounts in their name located outside of Russian Federation and wish to receive their pension payments to that account, may submit new payment instructions to the Fund so we may update your records and remit the funds accordingly, as explained below.
To update your payment instructions, please complete Form PF.23 and return it to the Fund. If you are registered with Member Self-Service (MSS), please upload the completed Form to MSS. Due to the present situation, the Fund will also accept the completed Form sent via email to [email protected]. If sending via email, please also include (1) copy of your valid passport, driver’s license, or other government-issued identification document with your photo and signature and (2) a copy of your Bank Statement/Document with account details and your name.
Should you have any questions/concerns, please contact us at the contact details provided on our Contact Us webpage, here or call us at toll-free numbers for Russian Federation.
