Investment under long-term savings program exceeds 717 bln rubles in 2025 - Russian Finance Ministry

MOSCOW. Feb 16 (Interfax) - Citizens have concluded more than 10 million contracts since the launch of the long-term savings program (LTS), and the funds raised have exceeded 717 billion rubles, the Russian Finance Ministry said.

"Citizens executed 7.1 million contracts under the long-term savings program in 2025, and the funds raised amounted to 500.7 billion rubles. Over the two years of the program's operation, more than 717 billion rubles have been raised, and the number of its participants has today reached 10.5 million people. This is a good result. The LTS is becoming a key investment product," the ministry quoted Finance Minister Anton Siluanov as saying.

The LTS was launched in 2024. It provides for state co-financing of contributions for ten years up to 36,000 rubles per year, as well as the right to a tax deduction. Citizens' funds contributed under the program are insured for up to 2.8 million rubles.

The director of the Finance Ministry's Financial Policy Department, Alexei Yakovlev, said in March that the target for the amount of funds raised for 2025 was 750 billion rubles.

Investment in the LTS, including co-financing and transfers of pension savings, was equal to 220 billion rubles in 2024.

According to a directive from President Vladimir Putin, the target for the amount of citizen investments under this program in 2026 should be at least 1% of GDP.

In 2025, amendments to the Tax Code were adopted aimed at stimulating employer participation in the LTS on behalf of their employees, as well as providing an increased tax deduction for long-term citizen savings of up to 500,000 rubles for long-term products opened on behalf of their children.