The Ministry of Finance proposed to automatically transfer pension savings of Russians to the pension Fund

The Russian Ministry of Finance has prepared a draft law providing for the automatic transfer of citizens' pension savings to the long-term savings Program (RSP), effective from 2024. This was reported on November 2 by RBC with reference to the initiative.

According to the document, the transformation will affect, among other things, the funds of the so—called "silent ones" - Russians who have not applied for the transfer of their pension savings to non-governmental pension funds or private management companies. Currently, these funds are managed by the state corporation VEB.RF.

As of the beginning of 2026, the savings of 36.5 million such citizens were in the Social Fund of Russia. The total amount of funds managed by the state management company was 2.98 trillion rubles.

It is specified that another 3.6 trillion rubles are placed in 24 non-state pension funds, whose clients are 34.4 million insured Russians. Thus, the proposed changes may affect pension savings totaling about 6.6 trillion rubles.

The State Duma proposed to change the procedure for pension indexation in Russia

Yesterday, Alexander Voloshin, a member of the Federation Council Committee on Economic Policy, recalled that in order to receive a lifetime funded pension, it is necessary to have at least 15 years of insurance experience and at least 30 individual pension coefficients. In 2027, citizens will have three options for receiving retirement savings: a lump sum, monthly transfers over a certain period of time, or a lifetime pension.