Russian President Vladimir Putin signed the law on the launch of the long-term austerity program. The relevant document is available at: portal publication of legal proceedings.
The project aims to revive the investment activities of the Russians.
“A simple and interesting financial product for citizens, whose replenishment with incentive financial support from the state is possible both at the expense of personal funds and at the expense of retirement savings created in their favor in the compulsory pension system. ,” the authors note in the explanatory note.
The State Duma Financial Market Committee presented a version of the government bill, which was finalized for the second reading on June 26.
Program terms
The program will start from 1 January 2024. You can participate from the age of 18: alone or in favor of a third party.
Anyone who wishes must enter into a special contract with a non-state pension fund and then pay a savings contribution. The state program will co-finance: if you earn up to 80,000 rubles per month, the co-financing will be calculated on a 1:1 basis, if you earn up to 150,000 rubles – 1:2, if you earn more than that – 1:4.
The fund will begin to make payments when certain grounds arise. Slices can be both lifetime and emergency (but not less than 10 years). The participant will be entitled to pay only after 15 years or after reaching a certain age (60 for men, 55 for women).
Before the deadline, money can only be received in special life situations. For example, paying for treatment or the loss of a livelihood. In the event of the participant’s death, the payment will be received by his heirs.
High efficiency and control
Finance Minister Anton Siluanov declarationthat the profitability of using such instruments in the medium term is higher than normal deposits.
The minister stressed that the investment procedure will be completely under the control of the state.
Long-term savings will be insured by analogy with bank deposits, but twice the amount – 2.8 million rubles.
In addition, investors who contribute up to 400,000 rubles per year will be able to receive tax relief of up to 52,000 rubles.
financial pillow
Prime Minister Mikhail Mishustin believes that the new program will give Russians the opportunity to generate additional income in the future and create a financial “airbag”.
Under the new program, the Prime Minister said, “a person can enter into a contract with a non-state pension fund, transfer previously created pension savings to it for further investment, or transfer individual contributions.”
“The state will co-finance these funds for the first three years, that is, up to 36,000 rubles per year,” the prime minister said at a cabinet meeting.