The number of Russians saving for pensions with non-governmental pension funds (NPFs) saw a decline by 564,000, reaching 35.4 million by the end of the first quarter of 2025. This shift was primarily attributed to NPF clients actively enrolling in the Long-term Savings Programme (LSP) and transferring their funds as an initial contribution.
Consequently, pension savings decreased by ₽103 billion during the quarter. Meanwhile, participation in the LSP increased by nearly 50%, totaling approximately 4 million participants by the end of Q1 2025.
Regarding NPF portfolio composition, there was an increase in the proportion of OFZs, while money market instruments saw a decline. Investment income for NPFs was mainly derived from coupons on debt securities.
Further information can be found in the Review of Key Indicators of Non-governmental Pension Funds for Q1 2025.
Preview photo: Donat Sorokin / TASS
