The Central Bank of Russia published its 2024 review of key indicators for non-governmental pension funds, reporting that the total pension portfolio exceeded RUB 8 trillion, supported by the launch of the long-term savings programme (LSP), inflows into non-governmental pension coverage (NPC), and investment returns. In the LSP’s first year, 2.8 million people joined, equal to 50% of NPC participants despite NPC having operated for more than 20 years. By year-end, investments in the LSP reached around RUB 205 billion, including transfers of pension savings from the compulsory pension insurance system. The regulator also noted that four new non-governmental pension funds (NPFs) entered the market for the first time in 10 years, and that in 2024 Q4 NPF portfolios shifted toward money market instruments and higher deposit allocations, while the share of investments in federal government bonds declined.
Central Bank of Russia 2025-04-30
Central Bank of Russia reports non-governmental pension fund portfolios exceeding RUB 8 trillion in 2024 as the long-term savings programme scales up
The Central Bank of Russia's 2024 review showed non-governmental pension funds' portfolios exceeded RUB 8 trillion, driven by the long-term savings programme (LSP) and investment returns. In its first year, the LSP attracted 2.8 million participants, 50% of non-governmental pension coverage. Additionally, four new non-governmental pension funds entered the market, and Q4 saw a shift towards money market instruments and higher deposit allocations.