"This year, about 100 private pension funds have been authorized to be part of the state retirement insurance system, with a right to operate the accumulative part of pensions," he said.
According to Batanov's assessment, more pension funds will be authorized later to enter the retirement insurance market.
"Private pension funds are as a rule founded to service a respective company. I believe that large organizations like Gazprom and Lukoil will seek to have their employees' money invested into their own private pension funds," he said.
Batanov also remarked that Chinese authorities were very much interested in the Russian experience of reforms in retirement insurance. He assured Russia is ready to share the experience with the Chinese who do not have a state pension system.
As to Russia's participation in the forthcoming General Assembly of the International Association for Social Welfare, Batanov said, the Russian delegation will be most interested in pension reform issues.
"We are going to work actively at these meetings and deliver a presentation," he went on.
The 28th General Assembly of the International Association for Social Welfare if opening on Sunday night in Beijing and will last from September 13 until September 17.
