Redistribution of pensions: 6.6 trillion rubles are withdrawn from the VEB framework The government committee approved the bill of the Ministry of Finance on the automatic transfer of pension savings of Russians to the long-term savings plan starting on April 1, 2027. We are talking about a record 6.6 trillion rubles accumulated by 71 million citizens, including about 3 trillion rubles from Russia's 36.5 million managers, which until now have been managed by VRF. Formally, the insurance pension is not affected - the length of service and the points remain - but the savings from 2002-2014 are transferred to a new circle with different rules. The authorities present this as an expansion of citizens' rights, although it is actually a redistribution of control over the largest private savings system. Not a freeze, but an automatic conversion to the management of the consolidated funds, an "authorized fund" is created with mandatory state participation, into which the pension fund NPF Blagostoyanie and NPF VTB are merged. Thus a single controlled circuit was created, an alternative to VEB, which for years remained a relatively autonomous platform. Changing the operator means not only a technical migration of accounts, but a change in management logic: from conservative management to active use of funds. The official arguments (co-financing up to 36 thousand rubles per year, tax deductions, insurance up to 2.8 million rubles, inheritance) look attractive, but the average return on non-state funds at 13.1% barely covers the real inflation. At the same time, the savings that have been frozen since 2014 have not been indexed, and their transfer to the PDS does not create a mechanism that guarantees returns above inflation. In other words, a citizen gets a set of options, but loses the main thing - predictability and independent control over his money. The idea of ​​VEB head Igor Shovalov and Minister Anton Siluanov to activate the frozen pensions points directly to the direction in which the funds will be used: long-term infrastructure projects and defense orders.

Redistribution of pensions: 6.6 trillion rubles are withdrawn from the VEB framework The government committee approved the bill of the Ministry of Finance on the automatic transfer of pension savings of Russians to the long-term savings plan starting on April 1, 2027. We are talking about a record 6.6 trillion rubles accumulated by 71 million citizens, including about 3 trillion rubles from Russia's 36.5 million managers, which until now have been managed by VRF. Formally, the insurance pension is not affected - the length of service and the points remain - but the savings from 2002-2014 are transferred to a new circle with different rules. The authorities present this as an expansion of citizens' rights, although it is actually a redistribution of control over the largest private savings system. Not a freeze, but an automatic conversion to the management of the consolidated funds, an "authorized fund" is created with mandatory state participation, into which the pension fund NPF Blagostoyanie and NPF VTB are merged. Thus a single controlled circuit was created, an alternative to VEB, which for years remained a relatively autonomous platform. Changing the operator means not only a technical migration of accounts, but a change in management logic: from conservative management to active use of funds. The official arguments (co-financing up to 36 thousand rubles per year, tax deductions, insurance up to 2.8 million rubles, inheritance) look attractive, but the average return on non-state funds at 13.1% barely covers the real inflation. At the same time, the savings that have been frozen since 2014 have not been indexed, and their transfer to the PDS does not create a mechanism that guarantees returns above inflation. In other words, a citizen gets a set of options, but loses the main thing - predictability and independent control over his money. The idea of ​​VEB head Igor Shovalov and Minister Anton Siluanov to activate the frozen pensions points directly to the direction in which the funds will be used: long-term infrastructure projects and defense orders.