- Статьи
- Economy
- Save up from a young age: authorities plan to co-finance savings on children's accounts
Save up from a young age: authorities plan to co-finance savings on children's accounts
The Ministry of Finance supported the state co-financing of children's accounts opened under the long-term savings program. Deputy Finance Minister Ivan Chebeskov told Izvestia about this. He added that the amount that the state will add on its own is still being discussed. For adults, there is now a co-financing of up to 36 thousand rubles per year in the first 10 years after opening an account. It is assumed that parents will be able to register it for a child and thus receive more money from the state. This is also useful for the economy, as it will attract long-term money. Whether it is worth opening a PDS for children is in the Izvestia article.
What is PDS for children and what benefits apply to it?
In Russia, they are working on launching state support for children's savings. The Ministry of Finance supports the co-financing by the authorities of the children's housing and communal services, 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 being discussed, said Ivan Chebeskov.
Deputy Minister of Finance of the Russian Federation Ivan Chebeskov
PDS is a voluntary savings product that can be issued through non—governmental pension funds (NPFs). Citizens make contributions, and the state co-finances investments of up to 36 thousand rubles (depending on a person's income level) every 12 months for the first 10 years after joining the program. In addition, there is a tax deduction of up to 52 thousand per year (to receive them, you need to invest 400 thousand).
Now Russians can already open a personal insurance fund not only for themselves, but also for a child. However, not all NPFs can be issued a children's product, said Maxim Kolyadov, head of work with individuals at Insurance Broker AMsec24. For example, VTB launched a children's PDS only on May 20. The NPF "Decent Future" plans to introduce a similar tool in the near future.
In addition, there is currently no additional co-financing for children. For example, if a parent opens two accounts: one for himself and the other for the child, the state will still add no more than 36 thousand a year, Maxim Kolyadov added.
Another change is being worked out that will make the children's product more attractive. According to current regulations, by concluding a long-term savings agreement in favor of a child, parents remain account holders until he comes of age, said Sergey Belyakov, president of the National Association of Non-Governmental Pension Funds (NAPF). All responsibility for managing the funds in this case lies with them.
Now it is planned to create separate children's accounts, the money on which will be considered the personal property of the minor, Sergei Belyakov emphasized. This will ensure the protection of savings, for example, from debt obligations of parents. Only the child himself will be able to use the money upon reaching the age of majority.
In addition to co—financing for children's PDS, the industry, together with the Ministry of Finance, is also actively discussing other preferences, such as tax benefits, said Andrey Osipov, CEO of VTB Pension Fund.
The long-term savings program for children is of great interest: according to the survey, almost half of the respondents are ready to issue such a product, Andrei Osipov noted. At the same time, 77% of parents intend to use these savings for their child's education.
How much money can the government co-finance for children's disability
Market participants supported the co-financing of children's PDS. This will allow families to prepare in advance for the most important life stages of a child: education, housing, and the start of adulthood, said Ruslan Westerovsky, Senior Vice President and Head of Wealth Management at Sberbank.
The NPF "Decent Future" supported any amount of co-financing. The main thing is that it should be separated from the benefits of the PDS, which the citizen discovered for himself, said CEO Dmitry Klyuchnik.
It would be optimal if the authorities established state support for children's PDS in the amount of 36 thousand rubles per child without reference to the income of the parents, said Andrey Osipov from VTB Pension Fund.
Another option is to make a benefit similar to adult PDS, that is, co—financing from 20 to 36 thousand rubles per year, depending on income, said Vladimir Chernov, analyst at Freedom Finance Global. According to him, this would make the support financially tangible and at the same time not create an excessive burden on the budget. This level of co-financing will be quite motivating for parents, especially if they have long-term investment discipline.
The innovation will significantly increase the popularity of the entire long-term savings program, Ruslan Westerovsky believes. He expects a multiple increase in interest from young parents and families.
After the launch of co-financing, the demand for children's PDS may grow two to three times in the first two years, Vladimir Chernov expects. It will be especially interesting for families with children under the age of five who are willing to regularly save small amounts for long-term capitalization, the expert noted.
There will also be a psychological factor: when parents see government support, they are more likely to invest in their children's future, added Maxim Kolyadov from Insurance Broker AMsec24.
The innovation will require amendments to the legislation, said Olga Blednova, an expert on strategic and operational development of financial sector companies. According to her estimates, new benefits can be earned at the end of this year or the beginning of next year.
The pros and cons of childhood PDS
The main advantage of children's PDS is that they provide long-term financial stability, Olga Blednova believes. She explained that by the age of 18, a child will receive capital for education or a start in life, which is especially important for low- and middle-income families.
One of the main stopping factors of investing in the instrument is that funds can be received only 15 years after opening an account, and investors need to take this into account.
However, this is an important parameter for the economy, because it is long-term instruments that make it possible to attract long-term money. They are extremely necessary, especially in the context of economic restructuring. The funds for the PDS are long—term ruble resources, Olga Blednova explained.
Another advantage is that this tool will help to create a culture of regular investments among the population, said Vladimir Chernov from Freedom Finance Global. In addition, the potential profitability of the CDS is higher than the average annual inflation rate.
The funds from the children's PDS are planned to be invested in conservative, reliable financial instruments such as infrastructure bonds, federal loan bonds or corporate bonds of companies with high credit ratings. So, for example, at the current key rate, their profitability can be up to 16%, the expert estimated. With the easing of monetary policy, this level will also begin to decrease. However, PDS has an advantage, for example, over deposits, in the form of government co-financing, which makes it more profitable in the long run.
In general, the profitability of children's PDS may be higher than that of ordinary deposits, but lower than that of more risky investments such as stocks, Maxim Kolyadov from Insurance Broker AMsec24 summed up. In his opinion, given the low risk, such a tool may be attractive to conservative investors.
In addition, according to Olga Blednova, PDS does not require knowledge to manage a portfolio, such as stocks or bonds.
Переведено сервисом «Яндекс Переводчик»
