Izvestia: incorrect transfer of pension savings can lead to loss of investment income
Midjourney
Only 10 out of 37 private pension funds (NPFs) have currently developed rules for the formation of long-term savings. This information follows from the materials of the Central Bank provided by the regulator’s press service to the Izvestia publication. The rules of several more NPFs are under consideration, the press service of the Central Bank also reported to the Izvestia publication.
Since the beginning of January this year, a long-term savings program (LTS) began operating in Russia, which, according to financial authorities, should become a new mechanism for the formation of long-term savings of every citizen. The program is designed for 15 years, but provides for the possibility of early withdrawal of funds in the event of a serious illness. Sources for the formation of long-term savings can include personal contributions from citizens, pension savings, which can be transferred from compulsory pension insurance to PDS, as well as joint financing from the state. In addition, to encourage people to join the program, a tax deduction is provided.
It is not yet possible to say for sure that all non-state pension funds will join the long-term savings program.