Politics · Russia · 6 hrs ago
Russia proposes moving pension savings into a long-term savings program
Russia’s government has introduced a bill to move citizens’ funded pension savings into its Long-Term Savings Program.
The change would apply to savings built up in the funded part of pensions, not to insurance pensions or how work history and pension points are counted.
Pensions already being paid would stay under current rules.
The program offers state support of up to 36,000 rubles a year for 10 years, tax deductions and inheritance rights for savings.
Some savings would be guaranteed in full, while personal contributions and investment gains would be protected up to 2.8 million rubles.
People whose savings are held by the Social Fund would have an account in a state-backed non-state pension fund managed by VEB.RF; others could use their existing fund and change it within two years without losing investment gains.
The proposed rules could take effect on April 1, 2027, if the bill is approved.
The Russian government has submitted a bill to the State Duma to convert citizens’ funded pension savings into the Long-Term Savings Program.
The proposed rules could take effect on April 1, 2027.
The bill would not change insurance pensions, how work records and pension coefficients are counted, or payments for funded pensions already granted.
Program participants could receive state support of up to 36,000 rubles a year for 10 years and tax deductions of up to 400,000 rubles annually.
Savings could be inherited, and guarantees would vary depending on the source of the funds.
- Who
- The Russian government submitted the bill. It concerns citizens with funded pension savings.
- What
- The bill proposes converting funded pension savings into the Long-Term Savings Program.
- When
- The government submitted the bill on November 6, 2026. The proposed rules could take effect on April 1, 2027.
- Where
- The bill was submitted to the State Duma in Russia.
- Why
- To move citizens’ funded pension savings into the Long-Term Savings Program.
This story does not have two clearly opposing sides.
A government commission on legislative activity approved the bill.
The government submitted the bill to the State Duma.
The proposed new rules could take effect.
- Proposed start date
- April 1, 2027
- Annual state support
- Up to 36,000 rubles for 10 years
- Annual tax deductions
- Up to 400,000 rubles
- Guarantee for personal contributions and accumulated income
- Up to 2.8 million rubles
- Fund for Social Fund savings
- A non-state pension fund with state participation; VEB.RF would manage the funds