Published on: 2026-09-01
Source: Central Bank of Russia – Central Bank of Russia –
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The total pension portfolio in Q2 grew due to investment income and inflows into non-state pension fund (NPF) programs.
Participants in the long-term savings program (LSP) contributed over 83 billion rubles (+30.6% over the quarter), contributions to the non-state pension provision program amounted to 42.0 billion rubles (+44.3% over the quarter). As a result, pension reserves increased to 3.3 trillion rubles.
The pension savings portfolio of the NPF, after negative dynamics at the beginning of the year, grew slightly from April to June – up to 3.6 trillion rubles. This is due to the fact that in the second quarter, unlike the January–March period, there were no transfers of pension savings to the PDS as an initial contribution.
For investment, the NPFs still chose OFZs and corporate bonds, while reducing their investments in money market instruments and deposits.
As of the end of the first half of the year, the weighted average return of the funds (before fee deduction), despite a slight decline, remained above inflation: 9.5% per annum for pension savings, 10.3% per annum for pension reserves.
Read more at “Overview of Key Indicators of Non-State Pension Funds for the Second Quarter of 2026”.
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