Non-governmental pension funds recorded their highest growth rate in pension reserves during the first quarter of 2026, according to a May 29 announcement from the Bank of Russia. The increase was mainly attributed to an inflow of money into the Long-term Savings Programme and returns on investment.
Most individuals chose the Long-term Savings Programme, as it allows them to transfer their pension savings. This led to a change in transition campaign patterns for the first time in five years, reversing the previous trend where clients were moving from non-governmental pension funds to the Social Fund of Russia.
In just three months, more than 1.3 million people joined the programme. The amount of savings transferred reached ₽143.7 billion, while contributions amounted to ₽63.7 billion. The total number of participants in the Long-term Savings Programme is now at 10.3 million.
Returns on invested pension resources by non-governmental pension funds slightly decreased, with annual rates at 13.1% for pension savings and 13.9% for pension reserves. Investment income was primarily generated by coupons on debt securities; non-governmental pension funds increased purchases of federal government bonds with fixed coupons and reduced holdings in corporate bonds.
The Bank of Russia operates as a legally independent entity with federal property and exercises monetary authority apart from other government bodies; it serves as the sole issuer of the Russian ruble and manages national cash circulation, aiming to promote financial and price stability while fostering a competitive financial market under leadership that includes a governor and deputy governors, according to the official website.
