Will Future Generations of Russians Continue to See Retirement as a Dramatic Fall in Living Standards? Despite falling behind its authors’ expectations, the pension reform still impresses by its pace. In the first months of 2008 alone, the number of people who transferred their savings accounts to private companies was 2.6 times more than last year. According to the data of Business&Financial Markets newsletter, trust management companies in 2008 already signed 1.8 million contracts with such investors and the number is expected to grow faster until the end of 2008. Thus, some Russians are not so paternalist, after all.