OREANDA-NEWS. On November 19, 2008 Alfa-Bank has become a member of the state program to help increase pension savings. The bank is now able to offer its customers the opportunity to take part in the state co-financing system of additional contribution to the cumulative part of work pensions, reported the press-centre of Alfa-Bank.

State co-financing support is available to people who are voluntarily covered by mandatory pension insurance from 1 October 2008 to 1 October 2013. The co-financing period is 10 years, starting from the year immediately after the additional contribution has been paid by the insured person.

The amount of co-financing depends on the amount of the additional contribution, but will not exceed 12,000 rubles per annum, i. e. for every 1,000 rubles paid in, the state will be add 1,000 rubles, but this will not exceed 12,000 rubles per annum.