Mandatory corporate pension programs may be launched in Russia

Many Russian companies are ready to introduce mandatory corporate pension schemes. Sergey Belyakov, President of the National Association of Non-Governmental Pension Funds (NAPF), told Izvestia about this in an interview. According to him, the introduction of participation in such schemes in employment contracts is a good idea. This initiative is being discussed with the business community at the level of the Central Bank and the Ministry of Finance, in particular, within the framework of the work of the committees of the Russian Union of Industrialists and Entrepreneurs (RSPP).

Embedded effect: companies will encourage employees to save for retirement

Starting in 2026, the Russian Federation wants to give tax incentives to businesses that contribute to long-term savings of employees.

"Quasi-mandatory programs imply that the initiative will come not from the state, but from within the business community, although the decisions themselves will be supported by the state. Thanks to the PDS and tax benefits for employers participating in the program, it becomes possible to practically implement this initiative," explained Sergey Belyakov.

Companies will be encouraged to open corporate pension programs through tax incentives, the head of the NAPF said. The Ministry of Finance, with the participation of the market, has developed a project that will allow companies to exempt from income tax funds allocated by companies to the long-term savings program.

Read more in an exclusive interview with Izvestia:

"More than 330 billion rubles have already been invested in the long-term savings program"