OREANDA-NEWS  The bill on long-term savings of citizens, which has been developed by the Ministry of Finance since December last year, has received government support, RIA Novosti reports. Prime Minister Mikhail Mishustin instructed Finance Minister Anton Siluanov to take personal control of the initiative.

The program involves voluntary participation. To do this, a citizen must conclude an agreement with a non-state pension fund (NPF) and transfer pension savings to it or transfer individual contributions.

The minimum term of the contract is 15 years, after which the citizen will be able to receive periodic payments. However, if a man has reached the age of 60 and a woman is 55, then payments will begin earlier. In order to attract citizens to a new form of investment, the state is going to approve a program for co-financing deposits.

As stated in the documents of the Ministry of Finance, each participant of the program will be able to receive up to 36 thousand rubles a year for three years. If the average salary of a citizen is less than 80 thousand rubles, then he will double every ruble invested (within the maximum amount). If his income exceeds 150 thousand rubles, then they will add four times less.

Commenting on the initiative, Mishustin pointed out that long-term savings will allow citizens to receive additional income in the future, including for an increase in pensions. At the same time, he stressed that the state insures the deposited funds in the amount of 2.8 million rubles. This is twice as high as the level of insurance of bank deposits.