russians Will No Longer Have Control Over Their Own Pensions

russia is preparing yet another forced seizure of funds from the population. According to a new draft law from the ministry of finance of the rf, russians’ pension savings are set to be automatically converted into contributions under so-called “long-term savings” agreements. This change will affect both clients of private pension funds and millions of so-called “silent savers” – russians who previously did not choose how to manage their savings. For the latter, the government is creating a special state fund managed by “web.rf”, effectively depriving people of any opportunity to independently determine the fate of their own money.

The scale of this state-led redistribution is massive: the kremlin will take billions of rubles from the population. As of 2026, the total savings of 36.5 million “silent savers” amounted to 2.98 trillion rubles, while another 3.6 trillion rubles were held in 24 non-state funds, serving 34.4 million people. Although the program formally promises payouts after 15 years or upon reaching retirement age (55 for women and 60 for men), the actual likelihood that russians will ever get this money back is minimal.

The main danger lies in the fact that, given the deep economic instability in russia, any such innovations carry enormous risks of a total loss of funds. Automatic fund transfers mean that citizens’ savings are frozen for an extended period, during which high inflation could completely devalue these amounts. Furthermore, there is a massive threat of bankruptcy for banks and private funds, which, in a crisis-stricken economy, could lead to the instant disappearance of savings.

Equally concerning is where exactly these funds will be directed. As stated by the management of “web.rf”,  russians’ money is planned to be channeled into “investments in technology projects”, which in practice means using pension savings to plug holes in the budget and finance risky government initiatives. In fact, the state is taking money from pensioners under the pretext of “caring for the future” in order to use it for its own needs.

Any economic crisis in russia clearly demonstrates that all projects involving “long-term savings” ultimately hit the pockets of ordinary russians, who completely lose control over their money.