The state plans to co-finance savings in children's accounts

The Ministry of Finance has supported state co-financing of children's accounts opened under the Long-Term Savings Program (LTSP), Deputy Finance Minister Ivan Chebeskov told Izvestia.

We are talking about accounts that any parent can open for a minor child. The amount of co-financing is still under discussion, said Ivan Chebeskov.

PDS is a voluntary savings product, which can be formalized through non-state pension funds (NPF). Citizens make contributions, and the state co-finances investments up to 36 thousand rubles (depending on the income level of the person) every 12 months in the first 10 years after entering the program.

Now Russians can open a PDS not only for themselves, but also for a child, but not all non-state pension funds allow children's product, said Maxim Kolyadov, head of work with individuals at the company "Insurance broker AMsec24". Besides, there is no additional co-financing for children now.

Market participants supported co-financing of children's PDS. It will be optimal if the authorities establish state support for them in the amount of 36 thousand rubles for each child without reference to the parents' income, says Andrey Osipov, General Director of VTB Pension Fund.

After the launch of co-financing, the demand for children's PDS may grow two to three times in the first two years, expects Freedom Finance Global analyst Vladimir Chernov. It will be especially interesting for families with children under five years old.

Read more in the exclusive material of Izvestia:

Save early: authorities plan to co-finance savings in children's accounts