130 Billion Rubles Saved Up by Russians for Retirement Over Past 10 Years

The total amount of funds generated by the participants of the state pension co-financing programme from 2009 to 2019 amounted to almost 130 billion rubles, the Russian Pension Fund reported. 

The project of state co-financing of pension savings was developed with the aim of helping Russians increase the size of their future pensions through personal contributions from citizens. The state provides co-financing of voluntary contributions for future retirement for 10 years. In 2019, the contributions from the state amounted to 3.7 billion rubles, and the total amount of savings of Russians under the programme amounted to 7.7 billion rubles.

It is noted that, according to the terms of the programme, payments from 2 to 12 thousand rubles are subject to co-financing. The amount of payments from the state is less than the number of voluntary contributions of participants. Upon retirement, the programme participants can determine for themselves the duration of payments, and the main thing is that it be at least 10 years.

Ru-Main, 14.06.2020

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