The economist explained the need to extend the withdrawal period for the PDS

The restriction on the withdrawal of funds by some citizens after the accrual of state co-financing under the long-term savings program has not been prescribed so far in the rules of the long-term savings program. This has led to a significant number of citizens using the program as a short-term tool to receive government support. Mikhail Khachaturyan, Associate Professor of the Department of Strategic and Innovative Development at the Financial University, gave such an explanation, commenting on the plans of the Ministry of Finance to increase the mandatory period before withdrawing funds from the accounts of the PDS.

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According to the expert, the implementation of the strategy of making money "here and now" can be attributed to the category of rational behavior of the older generation, proceeding from the need to maximize profits at the moment while minimizing risks.

"The key factor here is the current relatively tough economic conditions, characterized by high inflation and continued monetary policy rigidity, which encourage the population to choose short-term financial instruments," he explained.

Due to the absence of any restrictions, such an approach cannot be called a violation of the terms of the program, the source stressed. But this contradicts the logic of long-term savings, which was originally included in the MPD.

In light of this, the decision of the Ministry of Finance to adjust the rules is not a tightening, but rather an adjustment of the mechanism, the economist said. An increase in the minimum shelf life of funds does not negate the advantages of the PDS and incentive tools. This approach will only strengthen the emphasis on long-term investments in the program.

"A period of five years is the minimum investment horizon at which the possibility of maximizing interest income will be fully revealed," Khachaturian said.

Thanks to this, public funds and depositors' money will work longer and more efficiently, shaping the sustainability of the country's economic development and the potential financial well-being of citizens, he concluded.

Whether the PDS will remain profitable after changing the terms of withdrawal of savings — read the Izvestia article.

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