The Government Commission on Legislative Activity has approved a draft law on the conversion of citizens' funded pensions into a Long-term Savings Program (CDS) starting from April 1, 2027. This is reported on the website of the Ministry of Finance.
The changes will not affect the insurance pension assigned and paid by the Social Fund of the Russian Federation. The accounting of points and length of service remains the same, the message emphasizes.
Pension savings investment management will remain under VEB's control. The pension savings funds transferred to the pension fund will continue to be invested according to the principles of a conservative investment policy, the Ministry of Finance says.
To manage funds under the control of VEB, it is planned to create an authorized NPF with mandatory state participation. The transition from the savings system to the long-term savings system will be automatic.
The formation of the funded component of the pension system was carried out at the expense of insurance contributions from employers in 2002-2014. Since 2014, mandatory contributions from employers have been used to finance insurance pensions, while the practice of voluntary transfers from citizens has not been widespread: by the end of 2024, these contributions were made by 28.4 thousand people, the Ministry of Finance emphasizes.
The long-term savings program was launched in January 2024. Currently, 15 million contracts worth 1.2 trillion rubles have been opened under the PDS.
