In an interview with RIA Novosti, Sergei Belyakov, President of the National Association of Non-State Pension Funds (NAPF), spoke about the results of the long-term savings program (LTSP) last year and the development prospects in 2025.
— What legislative changes have occurred in relation to PDS in 2024 and what can be expected in 2025?
— The key legislative changes that took place in 2024 primarily concerned the improvement of the long-term savings program, the law on which was signed by the President of the Russian Federation in July 2023. Thus, at the end of March 2024, amendments were adopted to the Tax Code, which allowed citizens to receive deductions on personal income tax in relation to long-term savings for contributions totaling up to 400 thousand rubles per year for three products: individual investment accounts of the third type (IIS3), contributions to the PDS and under non-state pension provision agreements (NPO). Thus, the maximum deduction taiwan mobile database can be from 52 thousand to 60 thousand rubles annually, depending on the amount of a person's income.
From July 13, 2024, the term of state co-financing was increased from 3 to 10 years, which will allow program participants to receive a maximum of up to 360 thousand rubles. The extension of this term significantly increased the attractiveness of the PDS and expanded the segment of clients who consider the program as a tool for long-term investment. At the same time, the rules and procedure for paying the redemption amount in the event of special life situations were approved, including when paying for expensive treatment and in the event of the loss of a breadwinner.
In November 2024, the deadline for submitting applications for the transfer of pension savings from the compulsory pension insurance system to the PDS program was extended from December 1 to December 31.
Speaking about legislative expectations for 2025, I would like to point out several initiatives. Firstly, the adoption of amendments to the Tax Code, which were not adopted last year. They concern the receipt of tax benefits for pre-retirees and pensioners for participation in the PDS, the removal of restrictions on the number of PDS agreements for receiving tax deductions, as well as taking into account the validity period of the previous agreement in the event of transferring funds to a new PDS agreement to receive tax benefits.
There are also plans to develop incentives for employers to participate in the PDS. Many of them retain interest in developing corporate programs, and the PDS can become an effective tool for motivating and retaining personnel in conditions of personnel shortage.
Finally, the development of digitalization tools. For example, it is planned to provide the ability to submit an electronic application for the transfer of pension savings to the PDS through the State Services portal.