# Long-Term Savings - Short-Term High-Yield Deposits. An Essay on Financial Literacy

Henry de Overwood

MMMDCCLXVI. Long-Term Savings - Short-Term High-Yield Deposits. An Essay on Financial Literacy. - February 15, 2026.

Long-Term Savings - Short-Term High-Yield Deposits. An Essay on Financial Literacy.


I contributed 507,340 rubles to the Social Fund of the Russian Federation for a funded pension. I submitted two applications. But the funded pension hasn't been assigned to me yet.


I'm worried, sending applications to various authorities.


Why am I worried? Why can't I wait calmly?


Well, I sent two applications. Or maybe it is necessary to submit not two, but twenty-two. "Live calmly, in peace!" I tell myself.


But I'm surprised: my contributions (507340 rubles) are in the hands of the Social Fund. And the Social Fund had every opportunity to take action that would have made the situation absolutely calm and secure.


The first option: assign me a funded pension ten days after I submit my application. And begin accruing and paying it. (In this scenario, I could receive my funded pension since November or December 2025.)


Option two: to assign me the funded pension after ten days I submit my application-that is, in November 2025. However, in the decision on assigning the funded pension to me, to specify that it will be accruing and paying after April 1, 2026. (I'm informed I must wait three months after January 1, 2026-that is, I must wait until early April 2026 before submitting a third application.) This isn't entirely advantageous for me, but at least it's a clear and understandable option, legally regulating the situation.


Option three: to notify me in writing (for example) that I have the right to submit a third application between April 1, 2026, and December 15, 2026, and I am guaranteed that after I submit my (third) application within this timeframe, I will be assigned a funded pension. This option is the most disadvantageous for me, since promises, even written guarantees, are not a pension, not a legal act. (But still, it's a more certain situation for me.)


None of these options have been implemented. I'm receiving responses from which I understand that I should submit a third application after April 1, 2026. But this thesis, this idea, is the result of my analysis of the responses, the result of my "decoding."


So, I'm worried, I'm writing appeals to various authorities.


And then, it turns out, "Russian pensioners have begun using the long-term savings program (LTSP) as a term deposit."


"Russian pensioners have begun using the long-term savings program (LTSP) as a term deposit. In the third quarter, they withdrew almost 18 billion rubles from their LTSP accounts after receiving co-financing from the state. LTSP agreements are concluded for a term of 15 years, but women aged 55 and over and men aged 60 and over have the right to withdraw the funds at any time without losing all accruals. In this regard, the Ministry of Finance plans to increase the withdrawal period for LTSP co-financing funds to five years from the date of joining the program, announced Deputy Finance Minister Ivan Chebeskov."


Since I was forced to become somewhat familiar with the situation surrounding savings programs, I can imagine the following rough picture. This picture is illustrative, meaning it is not legally verified and may be inaccurate (incorrect) in detail.


A young saleswoman at the Desyatochka chain of stores, aged 25, begins depositing one thousand rubles monthly according the long-term savings program. She contributes twelve thousand rubles annually, and over the course of 35 years, by the age of 60 (60 - 35 = 25), she will have contributed 420,000 (four hundred and twenty) rubles (12,000 times 35 equals 420,000).


Let's assume the state co-finances her long-term savings. Let's assume that for every thousand rubles the young saleswoman contributes, the state adds one thousand out of the state financial funds.


By the age of 60, the saleswoman will accumulate 840,000 (eight hundred and forty) rubles through the long-term savings program (420,000 plus 420,000 equals 840,000).


I'll paint a rough, though legally inaccurate, picture below.


Now, at age 60, the saleswoman has two options: (1) she either receives 840,000 rubles as a lump sum payment, or (2) she requests some form (something like) of funded pension (I can't calculate the exact monthly payment amount; 840,000 rubles would have to be divided by an unknown (for me) number of months, likely more than two hundred months).


I'll continue with some rough, illustrative reasoning.


A person (a man) who has, say, a year left until turning 60 is in a completely different situation.


He contributes not one thousand rubles a month according a long-term savings program, but twelve thousand rubles a month. 12,000 times 12 equals 144,000 rubles (per 1 year). If the state co-finances his payments and adds its own 12,000 rubles to his 12,000, he'll receive 288,000 rubles by the end of the year (144,000 plus 144,000 equals 288,000).


Next, he asks for a lump sum payment of 288,000 rubles. What income did he receive on his 144,000 rubles? Based on the proposed scenario, it's 144,000 rubles, meaning his return on his deposit is 100 percent per annum.


Why would the state encourage a young, 25-year-old saleswoman at the Desyatochka chain of stores to save long-term? I can guess.


But the point of payments (state funds) to a rather narrow segment of the population is questionable.


Cleverly done, maestro!!!


But the money, the financial means, has to come from somewhere!!!


And I transferred 507,340 rubles as contributions to the Social Fund of Russia (in October-November 2025) and have been receiving written responses to date, but not a funded pension!!!


It seems my concerns are not in vain, and it's not for nothing that I'm sending alarming statements to various addresses!


February 15, 2026, 7:45 PM


Translation from Russian into English: February 15, 2026, 20:50

Владимир Владимирович Залесский " Долгосрочные сбережения - краткосрочные сверхвыгодные вклады. Очерк финансовой грамотности. "


{ 3795. Долгосрочные сбережения - краткосрочные сверхвыгодные вклады. Очерк финансовой грамотности. - 15 февраля 2026 г.

MMMDCCLXVI. Long-Term Savings - Short-Term High-Yield Deposits. An Essay on Financial Literacy. - February 15, 2026.


Vladimir Zalessky Internet-bibliotheca. Интернет-библиотека Владимира Залесского}