Russia’s Finance Ministry proposes automatically transferring pension savings into long-term savings program

Source: RBC

Russia’s Finance Ministry has drafted a bill that would move the funded portion of pensions into the long-term savings program (PDS), the Russian business news outlet RBC reported. The transfer would happen automatically starting April 1, 2027.

The government commission on legislative activity will review the bill as early as this week, and it is expected to go to the State Duma in early November 2026, according to RBC’s sources.

The measure covers both the funded pensions of so-called “silent” citizens — people who never applied to transfer their pension savings to non-state pension funds or private management companies — and the funds held by clients of non-state pension funds (NPFs).

In total, 6.6 trillion rubles in pension savings are expected to move into the long-term savings program: 2.98 trillion rubles belonging to “silent” citizens and managed by the state-owned management company VEB, and 3.6 trillion rubles held by 24 non-state pension funds.

“The proposed measure equalizes the rights and opportunities to build long-term savings for both current clients of the Social Fund of Russia and clients of non-state pension funds,” the Finance Ministry said.

This will give citizens more options for managing these funds, as well as create conditions for building additional capital.

The Finance Ministry told RBC that an “authorized fund” with mandatory state participation would be created to manage the funds of “silent” citizens. According to the outlet’s sources, the new structure is expected to include NPF Blagosostoyaniye and NPF VTB Pension Fund.

Russia has frozen contributions to the funded portion of citizens’ pensions since 2014. Before that, the funded portion was built from contributions equal to 6% of the earnings of citizens born in 1967 or later, which could stay with the Social Fund or be transferred to a non-state pension fund to boost returns. Another 16% of earnings went toward the insurance portion of the pension.

After 2014, the portion of earnings that had previously funded pensions has gone toward the insurance portion to pay current retirees.

The Russian business daily Kommersant notes that deputies in the State Duma discussed the proposal to automatically transfer the funded portion of pensions into the PDS back in June 2025. Anatoly Aksakov, head of the State Duma committee on the financial market, initiated that discussion, saying the move would help develop private long-term investment in Russia.

At Meduza, we are committed to transparency about our use of artificial intelligence in the newsroom. The story you’re reading was written by one of our living, breathing journalists and translated from Russian using an AI model configured to follow our strict editorial standards. This translation process is the result of extensive testing and refinements to ensure our English-language coverage is timely and accurate. A Meduza editor reviews every draft before publication.

If you find any errors in this translation, please contact us at reports@meduza.io.

To read Meduza’s exclusive content in English, please subscribe to our newsletter.

Why is it
important
to support
Meduza
now?Read here

Russia’s Finance Ministry proposes automatically transferring pension savings into long-term savings program

PDS

{{ header_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }}

{{ title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }}

{{ second_title }}

Russia’s Finance Ministry proposes automatically transferring pension savings into long-term savings program

PDS

{{{ alt }}}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }}

{{ title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }}

{{ second_title }}