The Ministry of Finance has developed a bill for the automatic conversion of funded pensions to the long-term savings plan (LTS) from April 1, 2027, RBC reports. The index will affect savings of 6.6 trillion rubles. The funds of the "quiet people" will go under the management of a new structure with the participation of the state, and NPF clients will remain in their funds. Within two years, citizens will be able to change operators. The department said the PDS would give Russians more opportunities to manage capital. Access to the funds will be opened after 15 years of participation in the program or upon reaching the age of 55 years for women and 60 years for men.

The Ministry of Finance has developed a bill for the automatic conversion of funded pensions to the long-term savings plan (LTS) from April 1, 2027, RBC reports. The index will affect savings of 6.6 trillion rubles. The funds of the "quiet people" will go under the management of a new structure with the participation of the state, and NPF clients will remain in their funds. Within two years, citizens will be able to change operators. The department said the PDS would give Russians more opportunities to manage capital. Access to the funds will be opened after 15 years of participation in the program or upon reaching the age of 55 years for women and 60 years for men.