Total pension portfolio expands to ₽9.7 trillion
Over 2026 Q1, non-governmental pension funds (NPFs) recorded the highest growth rate in pension reserves, driven primarily by an inflow of money into the Long-term Savings Programme (LSP) and returns on investment.
Most people opt for the LSP as they can transfer their pension savings to this programme. As a result, patterns in the transition campaign changed for the first time in five years, with the trend towards an outflow of NPF clients to the Social Fund of Russia reversing.
Just in the first three months of 2026, over 1.3 million people joined the programme, with the amount of savings transferred to the LSP reaching ₽143.7 billion and savings contributions amounting to ₽63.7 billion. Individuals participating in the LSP number 10.3 million.
NPFs’ returns on invested pension resources edged down, specifically to 13.1% p.a. on pension savings and 13.9% p.a. on pension reserves. Investment income was mainly accounted for by coupons on debt securities. NPFs purchased more federal government bonds, predominantly with fixed coupons, and less corporate bonds.
More details are available in the Review of Key Indicators of Non-governmental Pension Funds for 2026 Q1.