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- Small by a lot: preferential investment accounts for children will be launched in Russia
Small by a lot: preferential investment accounts for children will be launched in Russia
Special individual investment accounts (AIS) for children will be launched in Russia: parents will be able to open them before the child reaches adulthood and receive a tax deduction for this, Izvestia found out. It is planned to entrust the management of funds in such accounts to professional investment companies, Deputy Finance Minister Ivan Chebeskov told Izvestia. The changes are being worked out within the framework of the concept of family investments, which the president instructed to launch at the end of last year. They will also be discussed at SPIEF 2025, which starts on June 18. How the mechanism will work and to whom it might be of interest is in the Izvestia material.
What are children's AIS?
The authorities are working on the concept of children's AIS. Currently, such brokerage accounts exist for adults. Tax benefits are provided for them, for which you need to keep an account open for at least five years (by 2031, the period will increase to 10 years). Owners can receive a tax deduction from contributions if they replenish up to 400 thousand rubles per year, and from the income they receive.
Investments in an AIS for children can be placed under the trust management of financial market participants. Minors cannot have a full-fledged brokerage account, so this option is optimal for attracting them to financial instruments. Deputy Finance Minister Ivan Chebeskov told Izvestia about this. According to him, this option is being discussed with the Central Bank as part of the family investment mechanism.
It was commissioned by President Vladimir Putin to develop it at the end of 2024. In addition to the AIS, the line should also be based on the long-term savings program (LDS) and cumulative life insurance (NSF). Izvestia sent requests to the Central Bank and the Ministry of Finance.
The PDS is issued through non-state pension funds (NPFs). The state co—finances citizens' contributions - up to 36 thousand rubles annually in the first 10 years. There is also a tax deduction of up to 52 thousand rubles per year, subject to the deposit of 400 thousand rubles. The NCW combines risk protection and the ability to increase funds. Policies are concluded for a period of three years or more, and profitability is most often fixed in the contract.
It is assumed that the mechanism should work like this: parents will conclude a contract in the interests of the child, determine an investment strategy and deposit their funds into the account, explained Alexey Timofeev, head of the National Association of Stock Market Participants (NAUFOR). And the management company will charge its own commission and invest, multiplying this money. As a result, a significant amount may accumulate in the account by the time the minimum period of validity of the IC-3 expires.
The Management Company will plan the use of funds for children's AIS in the long term, said Dmitry Lesnov, Deputy General Director for Brokerage Business at Finam. It is also important not to discourage the child's desire to invest in the future, which means that the tools will not be risky.
—Probably, 60% of the funds from children's ICS will be invested in federal loan bonds, about 20% in bonds of stable Russian companies, and only the remaining 20% in stocks," suggested Hovhannes Ohanisyan, director of the analytical department at Cifra Broker.
The securities portfolio will be moderately conservative and consist of government bonds, money market instruments (when an investor lends foreign currency to companies at rates close to the key) and shares of major companies, said Artem Kirakosyan, Director of Development at BCS World Investments. But the profitability in this case can be significantly higher than that of non-state pension funds (they manage the pension fund), which are more limited in the choice of investment instruments.
Is it possible to open AIS-3 to a child now
It is already possible to open an AIS with trust management for a child at some brokers, but only if he is over 14 years old. The concept of family investments assumes that the tool will be available from birth.
However, there is a noticeable problem with such accounts. The key feature of the AIS is tax deductions for investments that are simply inaccessible to children, as they do not work, said Dmitry Lesnov from Finam. It is important to legislate the right of parents to receive a tax deduction for investments in children's IP, said Alexey Timofeev, head of NAUFOR.
In addition, children may be allowed to withdraw money from the IIS-3 ahead of schedule in a wide range of cases, for example, to pay for education, Dmitry Lesnov suggested.
Why do we need investments for children?
"Children's IP can be a good incentive to attract money to the financial market and create a culture of investment," says Oleg Goransky, Director of Legal Affairs at the First Management Company.
Natalia Milchakova, a leading analyst at Freedom Finance Global, is convinced that children's investment products will help a child accumulate capital by adulthood. In any case, such investments will be a good investment in his well-being.
Similar products are already operating in other countries, the expert added. They are popular in countries with developed stock markets, such as the United States and Japan. And in the UK, there are even special children's investment funds. There is another model similar to the Russian maternity capital, which is paid at the birth of a child. In the Middle East, these funds are credited to a special account of the newborn, which can be used after he comes of age.
However, the initiative may have a fairly narrow range of applications. It is VIP clients who are interested in children's ICS, said Artem Kirakosyan, Director of Development at ICS BCS World of Investments. In addition to the desire to involve their child in finance, they also pursue the goal of further diversifying their investments and protecting them even more.
And most families with two or more children spend most of their income on consumption, noted economist Andrei Barkhota. According to his estimates, only 7-10% of families will be able to use family investment tools.
In addition, Russians generally prefer to keep money not in an IC, which can be withdrawn only after five years, but in shorter deposits, Andrei Barkhota added. Thanks to them, people can earn more income in a shorter period of time. In his opinion, favorable external conditions for family investments have not yet been created.
To develop this initiative, it will be necessary to popularize the tool, involving the authorities, and generally support investment among the younger generation at the national level, Dmitry Lesnov believes. The participation of only the management companies and brokers in this process will not allow us to unlock the deep potential of this idea.
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