Column by Maxim Builov about the optimism of Russian pensioners

A study by one of the largest pension funds, Sberbank NPF, showed the optimism of Russian citizens. Thus, 59% of respondents expect to live to 90 years, and 33% expect to live more than 100 years. At the same time, according to Rosstat, in 2023 the life expectancy of a Russian citizen will be 73.4 years. At the same time, more than half of the surveyed Sberbank NPFs would like to retire before the age of 60, of which 20% dream of becoming pensioners on their fiftieth birthday.

For a decent existence in retirement, Russians want to receive only slightly less than the level of salaries. As Ruslan Vesterovsky, head of the Wealth Management block at Sberbank, noted, on average Russians value a decent life in retirement at almost 60 thousand rubles. per month. According to Deputy Prime Minister of the Russian Federation Tatyana Golikova, the average salary in the country is 70.3 thousand rubles. But even here, hopes seriously diverge from reality: the average size of the insurance pension from next year will be 23.4 thousand rubles.

But Mr. Vesterovsky believes that “with a competent approach” it is quite possible to provide a “decent income”. In his opinion, the long-term savings program (LSP), which will appear on the market in 2024, can help with this. “With PDS, a person can receive up to 108 thousand rubles. co-financing from the state, activate pension savings, and return up to 52 thousand rubles. taxes per year,” he notes.

I don’t dare argue with an honored specialist who worked for about eight years at the Central Bank, where, according to the head of the Bank of Russia, Elvira Nabiullina, he was responsible for “the most important internal reforms in the Central Bank – from the creation of a transparent remuneration system to the introduction of values ​​and principles of corporate culture.” He clearly must know the limits of optimism.

For example, individual investment accounts (IIA), launched in 2015, turned out to be popular precisely because of the opportunity to obtain a tax deduction. Based on the results of the third quarter of 2023, 5.7 million accounts have already been opened, in which citizens held 519 billion rubles. But whether the PDS will repeat this success even taking into account co-financing is a big question. It’s one thing to put money in for three years, another thing for 15 years. Again, in previous years, deposit rates systematically decreased, but this year they have already increased to 14% per annum (and this is on average for the largest banks), which competes with other products.

Nevertheless, Russians’ desires for pensions may be achievable. The current 18-year-old dreamer will reach 60 in 2065, after which he plans to receive a pension for another 30 years. And it cannot be ruled out that by 2095 it will reach the coveted 60 thousand rubles. Just what can you buy with this money?