Co-financing of long-term savings was proposed to be tied to the number of children

State co-financing under the Long-Term Savings Program (LTSP) may be tied to the number of children. Such a proposal is being discussed within the framework of the family savings instrument, which the President instructed to create at the "Russia Calling" forum, Izvestiya sources familiar with the preparation of the new mechanism and industry representatives confirmed.

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One of Izvestia's interlocutors said that various proposals are being discussed, including linking co-financing to the number of children, but no final decision has been made yet, everything is being worked out.

Now co-financing depends only on the income of the program participant. The higher it is, the more you have to invest yourself. So, to get the maximum amount of co-financing of Br36 thousand, people with incomes up to Br80 thousand need to contribute a similar amount. Further coefficients apply. If a person earns more than Br80 thousand and up to Br150 thousand, then the contribution (to get co-financing of Br36 thousand) should amount to Br72 thousand, and if the income exceeds Br150 thousand - Br144 thousand.

Arkady Nedbai, Chairman of the Council of the National Association of Non-State Pension Funds (NAPF), told Izvestia that tying the amount of state co-financing to the number of children is proposed by the industry as part of the preparation of the family program.

He explained that it is proposed to give an opportunity to conclude contracts in favor of minor children with separate co-financing for each family member. Such a solution could, for example, help to save for children's education.

At the VTB forum "Russia Calling" in early December, President Vladimir Putin instructed the government together with the Central Bank to develop the parameters of the investment family mechanism for the formation of long-term savings. At the same time, the head of state mentioned one proposed change - the possibility of receiving a tax deduction for all working family members (up to a total of at least 1 million rubles per year).

Read more in the exclusive material of "Izvestia":

Family - in a row: co-financing of long-term savings may be tied to the number of children