Aksakov: the State Duma will adopt a law on raising the threshold for deposit insurance in NPFs in April

During April, the State Duma will adopt a law on a twofold increase in the maximum amount of compensation for funds invested in non-state pension funds (NPFs), Anatoly Aksakov, chairman of the Duma Committee on the financial market, told RIA Novosti. Russian President Vladimir Putin spoke about the need for action in his message to the Federal Assembly.

The authors of the innovations refer to the statement of the head of state in an explanatory note to bill. In the course of his message, the president proposed establishing a “twice as large” (than now) maximum amount of deposit insurance in NPFs – 2.8 million rubles.

“Next week, the State Duma will consider the bill in the first reading. But there are no special amendments there, so we will quickly adopt it in the middle, maybe by the end of April, by the 20th, in the second and third readings. The idea is good, so I think everyone will support it. The bill will enter into force in May,” said Mr. Aksakov (he was also one of the authors of the bill).

Law on the creation on the basis of the Deposit Insurance Agency of a system for guaranteeing citizens’ pension savings in non-state pension funds for non-state pension provision of the State Duma accepted in December 2022. According to the norm, the compensation system was built by analogy with the mechanism in bank deposit insurance systems. Then the limit of the guaranteed amount was fixed at the level of 1.4 million rubles.

Grigory Leiba