2018 pension funds will have to enroll in a financial system of Russia. The hope is, according to TASS, was expressed on Wednesday by Finance Minister Anton Siluanov said at an investment forum “Russia calling!” organized by “VTB Capital”.

According to him, the corresponding concept was developed by the Ministry of Finance jointly with the Central Bank . “She’s our ideology must appear as the end of 2017 – beginning of 2018. Here the task is to help our citizens have a decent pension – on the one hand, and on the other hand – it is long money. So in 2018, I hope these resources will flow into the financial system,” he said.

The term “long money” is used to describe long-term borrowings (investments or loans), provided for a long time – at least a year.

Now the funded part of pension savings of Russians frozen: with 2014 on its transfer to private pension funds imposed a moratorium, recently extended to three years. This means that the Federal budget is savings by reducing transfers to the Pension Fund, but, on the other hand, these funds cease to be long money, so as not to come into the economy in the form of investments from private pension funds.

We will remind, the Bank of Russia and the Ministry of Finance of the Russian Federation on September 23 presented at the Moscow financial forum their proposals for the modernization of the system of pension savings – the concept of “individual pension capital” (PKI). Previously Siluanov said that the Finance Ministry plans to launch a new accumulative pension system in 2018.

Concept – third over the past 15 years – provides that IPK will be formed in the non-state pension funds at the expense of voluntary deductions of citizens, the amount of which will not be limited. It is assumed that paid by the employee contributions will be supplemented by government through a tax deduction, and the deduction of social contribution and the funds will be received by the PKI automatically.

In the co-financing will involve employers, obtaining in this case, certain benefits. Citizens who have pension savings in the mandatory pension insurance (OPS) will be able to translate them as a contribution to the account of IPK.

For working people, not expressing in the transition period the opinion on participation in the system of individual pension capital is formed automatically, but at any time you can suspend the payment of contributions.
Thus, the strategy of accumulating will be determined directly by the citizen. All funds individual pension assets will be the property of the citizen, in certain cases, they can use until retirement.

Note, the current pension system was once created for the sake of appearance Institute in the country long-term money. “When we took this legislation, of course, we also had in mind the creation of a long resource of the financial system, so one without the other to act should not be”, – said, for example, in the spring of 2015, first Deputy Prime Minister Igor Shuvalov, objecting to those who favor a voluntary format pension savings.

Former Chairman of the Central Bank of the Russian Federation Sergey Aleksashenko has shared the opinion that the authorities are going to raise taxes under the guise of pension reform. What will the reforms for future pensioners, is unclear, but it is clear that getting the budget, he said.

According to him, the next project of reform of the Russian pension system, which has long said speakers at the Moscow financial forum on Friday, suggests, in fact, “eternal freeze” of the pension in the current format – 2018 22% that the employer pays for the employee pension Fund, will go to the insurance part, that is used to pay current retirees.

To generate savings under the proposed reforms a person needs a minimum income of 50-60 thousand rubles a month, which is twice higher than the national average, has estimated the Association of private pension funds.



Siluanov: pension funds will flow into the financial system of Russia 12.10.2016

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