The government's commission on legislative activity is due to review the document this week, and it is planned to be submitted to the State Duma in early November, according to RBC's sources.
Of the 6.6 trillion rubles, 2.98 trillion are the savings of the so-called "molchuny" — Russians who never moved their pension savings to a private fund — managed by the state-owned VEB management company. At the start of the year there were 36.5 million such people, according to Ekho. A further 3.6 trillion rubles are held in 24 non-state pension funds, the savings of 34.4 million people. Novaya Gazeta Europe writes that the initiative will affect about 71 million people.
To manage the "molchuny" funds, an "authorized fund" with mandatory state participation is to be created. According to RBC's sources, the Blagosostoyanie pension fund and VTB Pension Fund may take part in forming it. The Finance Ministry said the measure "equalizes the rights and opportunities for forming long-term savings for both current clients of the Social Fund of Russia and clients of non-state pension funds."
Under the PDS rules, savings can be accessed after 15 years of participation in the program, or upon reaching 55 for women and 60 for men, TV Rain reported. Contributions to the funded portion of Russians' pensions have been frozen since 2014. Before that, 6% of earnings went to it for citizens born in 1967 or later; the money now goes to the insurance portion to pay current pensioners.
Kommersant notes that State Duma deputies discussed automatically transferring the funded portion into the PDS back in June 2025. The discussion was initiated by Anatoly Aksakov, head of the State Duma committee on the financial market. In his view, the decision would help develop private long-term investment in Russia. The long-term savings program itself has been in effect since 2024.