The Ministry of Finance and the Bank of Russia have presented a bill to the government detailing a long-term savings program. This proposal, referenced by official sources, outlines a plan aimed at creating a personal financial buffer that individuals can rely on in various life contingencies. The project envisions citizens contributing voluntarily, using both their own savings and funds already accumulated in pension accounts, with the possibility that employers may also make contributions on behalf of employees. These core features are designed to foster a culture of disciplined saving while maintaining flexibility for personal circumstances. (Source: Ministry of Finance)

The bill introduces a set of incentives intended to encourage participation and improve the program’s attractiveness. Among the proposed benefits are tax deductions ranging up to 52,000 rubles per year, with annual personal contributions that can reach as high as 400,000 rubles. In addition, the state would provide co-financing for certain deductions, creating a government-supported boost to individual savings. The intention behind these incentives is to reduce the hurdle for savers and to reward long-term commitment to the program. (Source: Ministry of Finance)

Eligibility for the program starts at age 18, and the funds accumulated through voluntary contributions will be insured up to 2.8 million rubles, offering a level of protection that can help individuals weather unexpected financial shocks. This insured threshold is a key element of the framework, serving as an anchor for participants seeking reliable security within retirement planning and other long-horizon goals. (Source: Ministry of Finance)

Withdrawals are structured to allow access to deposited personal funds at any time, subject to the terms laid out in each participant’s contract. This flexibility is balanced by restrictions on the use of funds accrued through funded pension accounts, government contributions, and investment income, which would remain outside immediate access. The design appears to favor preserving long-term savings while still enabling short-term liquidity for defined purposes. (Source: Ministry of Finance)

Officials have previously stated that the program could accommodate a significant portion of the population, with projections suggesting as many as 15 million participants by 2030. This outlook underscores the government’s ambition to broaden financial resilience across households while aligning with broader pension reform objectives and macroeconomic stability. (Source: Ministry of Finance)