The Ministry of Finance will prohibit the use of the long-term savings program as a term deposit

The Russian Ministry of Finance has proposed to close the possibility for pensioners to immediately withdraw funds from the long-term savings program. This was announced on February 12 by Deputy Finance Minister Ivan Chebeskov.

"We have never said that we want to worsen the conditions for citizens to participate in the long-term savings program. But we said that the money that the state allocates to co—financing should be an incentive for long-term savings," RBC quoted him as saying.

In addition, the Ministry of Finance proposed to increase the withdrawal period of co-financing funds under the PDS program to five years. The Deputy Minister stressed that the purpose of the program is to stimulate long-term savings, and the funds that the state allocates to co-financing should support this approach.

The news is being updated