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- Rights and obligations: how to guarantee equal conditions on accounts and deposits for pensioners
Rights and obligations: how to guarantee equal conditions on accounts and deposits for pensioners
The National Competition Development Plan for 2026-2030 stipulates that the Ministry of Finance, the Central Bank and the Federal Antimonopoly Service will discuss measures that will ensure equal conditions for pensioners when calculating interest on deposits and bank accounts. Izvestia investigated what specific mechanisms or tools can be used to ensure non-discriminatory rates, as well as how such measures can affect the banking market.
Perspective assessment
According to the national competition development plan for the period 2026-2030, it is planned to take measures aimed at establishing equal interest rates for pensioners on their accounts and deposits, the FAS press service told Izvestia. The Ministry of Finance of the Russian Federation has been appointed responsible for the implementation of this initiative.
"The FAS of Russia will participate in the implementation of this event within its competence," the federal service said.
There are cases on the market when some banks offer products with low rates for pensioners compared to products for other categories of citizens, the press service of the Central Bank told Izvestia. Civil legislation generally does not prohibit the establishment of various conditions for a financial product, including those offered to certain categories or social groups of the population.
— At the same time, attracting funds from citizens of retirement age using special marketing technologies on unfavorable terms cannot be attributed to fair practice. This violates the interests of the consumer and creates an unreasonable advantage for the bank in the form of access to cheap non—market liabilities," the regulator noted.
In the current system of interest accrual on deposits and accounts, differences in conditions for pensioners arise not because of discrimination by banks, but because of the specifics of the financial environment, Natalia Arkhipova, an expert at the ProFiT project of the Association for the Development of Financial Literacy, told Izvestia. Credit institutions usually focus on customers who actively use digital tools and perform regular transactions, while older depositors are more likely to prefer reliability and sustainability.
— Because of this, the balance of benefits may shift. However, today it is becoming obvious that trust, stability and long-term relationships between the bank and the client should become the new currency of the financial system. The task of the banking industry is to see a pensioner not just as a client, but as a strategic partner who forms the basis for stability and confidence of the entire market," the expert noted.
In her opinion, the mechanisms for ensuring non-discriminatory rates can be simple and transparent, without violating market principles or imposing unnecessary restrictions on banks.
—Among the possible tools are uniform standards for disclosure of deposit returns, open conditions comparison systems, as well as special programs for retirees that allow them to achieve competitive returns compared to other client segments, while maintaining flexibility and choice," Natalia Arkhipova emphasized. — In addition, together with the Ministry of Finance, the Federal Antimonopoly Service and the Bank of Russia, a benchmark of fair percentage ranges can be set for socially significant categories, including pensioners, which will allow them not just to save money, but to actually earn on their savings in the long term.
According to her, such a model contributes to the formation of an open and predictable financial market in which stable income is combined with trust, and people of retirement age feel their full involvement in economic processes. In addition, improving the convenience and accessibility of banking services is becoming an important area — creating intuitive mobile application interfaces, simplifying service procedures, implementing incentive programs and consulting focused on the real needs of older users.
In addition, the expansion of programs aimed at improving financial literacy and the active participation of senior citizens may include a system of incentives, such as bonuses for long—term cooperation, participation in charity projects and in financial longevity clubs, the expert noted. In such communities, pensioners feel that they are not just consumers of services, but full-fledged and significant participants in the banking environment.
— For the banking market, such measures may not be a limitation, but an opportunity. This is a chance to turn customer care into a competitive advantage. When people see that they are being heard and appreciated, they often choose reliability and stay with the bank for many years," the expert believes. — This strengthens public confidence, increases the volume of deposits and creates a positive image of banks as socially responsible institutions. As a result, everyone wins: customers gain confidence and fairness, banks gain stable resources, and the economy gains a new level of stability and trust.
The next step
The process of gradually eliminating discriminatory practices in the banking sector is manifested in various initiatives, Petr Shcherbachenko, associate professor at the Financial University under the Government of the Russian Federation, told Izvestia. For example, the situation with the so—called old money was the impetus for the adoption of a law that makes it possible to transfer funds between accounts in different banks for free through the fast payment system (SBP) - up to 30 million rubles per month.
In addition, starting from July 1, 2025, a new financial instrument appeared in the Russian Federation — a social contribution. This product is intended for citizens receiving government support and is aimed at increasing the availability of banking services for socially vulnerable categories of the population.
— These deposits can open accounts on more favorable terms, while the amount of the social contribution should not exceed 50 thousand rubles, and the interest rate corresponds to the maximum rate of the bank for up to one year, — the expert reminded. — Social contributions are available in systemically important banks, and other credit institutions should introduce similar products from January 1, 2027.
It is assumed that the implementation of the initiative can contribute to an increase in the number of pensioners among deposit holders by about 15%, he noted. According to statistics for March 2025, there is an increase in interest in deposit products from both young people and older customers.
"In general, the Central Bank of the Russian Federation, the Federal Antimonopoly Service of the Russian Federation and the Ministry of Finance of the Russian Federation are working together to increase the financial security of the older generation and the financial awareness of the elderly, which will allow them to make an informed choice of financial services, reducing the misseling in the financial market," says Peter Shcherbachenko.
Izvestia sent a request to the Ministry of Finance, but no response had been received at the time of publication.
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