The Central Bank of Russia’s review of first quarter 2026 indicators shows that non-governmental pension funds recorded their strongest growth in pension reserves, driven mainly by inflows into the Long-term Savings Programme and investment returns. The review also notes a shift in transfer patterns for the first time in five years, with the previous outflow of non-governmental pension fund clients to the Social Fund of Russia reversing as savers used the programme to transfer pension savings. In the first three months of 2026, more than 1.3 million people joined the programme. Savings transferred to the Long-term Savings Programme reached RUB143.7 billion and additional savings contributions totalled RUB63.7 billion, bringing the number of individual participants to 10.3 million. Returns on invested pension resources eased to 13.1% per annum on pension savings and 13.9% per annum on pension reserves. Investment income came mainly from coupons on debt securities, while non-governmental pension funds increased purchases of fixed-coupon federal government bonds and reduced purchases of corporate bonds.
Central Bank of Russia2026-05-29
Central Bank of Russia reports fastest growth in non-governmental pension fund reserves as 1.3 million joined long-term savings programme in first quarter
The Central Bank of Russia reports that non-governmental pension funds recorded their strongest growth in pension reserves in first quarter 2026, driven by inflows into the Long-term Savings Programme and investment returns. Over 1.3 million people joined the programme, taking total participants to 10.3 million, with RUB143.7 billion of transferred savings and RUB63.7 billion of additional contributions, while returns eased to 13.1% per annum on pension savings and 13.9% on pension reserves.