Pension system accumulates almost ₽10 trillion: results of 2026 Q2
In the second quarter, the total pension portfolio expanded on account of investment income and inflows of money into the programmes of non-governmental pension funds (NPFs).
Participants in the Long-term Savings Programme (LSP) paid over ₽83 billion into the LSP (+30.6% quarter on quarter), with contributions to non-governmental pension schemes totalling ₽42.0 billion (+44.3% quarter on quarter). As a result, pension reserves were up to ₽3.3 trillion.
Following negative dynamics at the beginning of the year, the portfolio of NPF pension savings edged up to ₽3.6 trillion between April and June. This was due to the fact that unlike in January–March, no pension savings were transferred to the LSP as an initial contribution in the second quarter.
NPFs continued to buy OFZs and corporate bonds, while reducing their investments in money market instruments and deposits.
By the end of 2026 H1, the weighted average returns on NPFs (before management fees) remained above inflation despite a slight decline, namely 9.5% p.a. on pension savings and 10.3% p.a. on pension reserves.
More details are available in the Review of Key Indicators of Non-governmental Pension Funds for 2026 Q2.