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MIL OSI Translation. Region: Russian Federation –

Source: Central Bank of Russia – Central Bank of Russia –

The first operator of the Long-Term Savings Program (LSP) was SberNPF. Hisrules on the formation of long-term savings was registered by the Bank of Russia. The regulator is currently considering 12 more rules from non-state pension funds (NPFs), which are ready to offer a new product.

PDS started at the beginning of this year. It will allow citizens to receive additional income in the future or create a safety net in case of special life situations. The uniqueness of the program is that it provides for state co-financing – up to 36 thousand rubles annually for three years after payment of the first installment. You can also transfer your funds accumulated in the compulsory pension insurance system to PDS. The citizen makes the decision to transfer independently. All deposited funds, including income from their investment, will be insured by the state in the amount of 2.8 million rubles. It is also planned to introduce a tax deduction on contributions.

The funds accumulated in the PDS can be withdrawn after 15 years of the contract or upon reaching 55 years for women and 60 years for men. These can be monthly payments, which, at the choice of the citizen, will be made for life or for at least 10 years. NPFs have the right to offer other payments, including one-time payments.

The money can be used without loss even earlier: if necessary, to pay for expensive treatment or in connection with the loss of a breadwinner.

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Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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