Starting from 2025, Russians will be able to return up to 88 thousand rubles from contributions under the long-term savings program. This was announced by Senior Vice President of Sberbank’s Asset Management block Ruslan Vesterovsky.
The maximum tax refund amount will depend on the rate applied to the participant’s income, he said.
“For example, if a person pays personal income tax at a rate of 22% for 2024 and deposits 400 thousand rubles into the PDS account, he will be able to return 88 thousand rubles. In contrast, at a rate of 13 percent and a similar contribution, you will be able to return 52 thousand rubles,” he explained.
He explained that the tax deduction limit remains the same – 400 thousand rubles, and this applies to various financial instruments – long-term savings program, individual investment accounts and non-state pension agreements.
“We can consider the possibility of increasing the tax deduction limit, because such a threshold was set about 10 years ago and has not been indexed since then. We believe that increasing this limit to 1 million rubles will allow Russians to plan their long-term savings and investments more flexibly and conveniently,” Vesterovsky said.
Earlier, Russian President Vladimir Putin signed a law amending the Tax Code of the Russian Federation.