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The funded part of the pension was proposed to be frozen in Russia

The funded part of the pension was proposed to be frozen in Russia
Photo: pixabay.com

The Russian government has submitted to the State Duma a bill that involves freezing the funded part of the pension in Russia until 2023. At the same time, the authors point out that this will not lead to a decrease in the volume of pension rights of insured persons.

As noted in the posted document, freezing the funded part of pensions will reduce the cost of compulsory pension insurance by 669,3 billion rubles. At the same time, 6% of salary deductions to the funded part of the pension since 2014 go to the insurance part, to pay current pensioners. The Russians cannot choose until 2023 where to send these contributions - to the funded part of the pension or to the insurance.

As specified in the explanatory note to the bill, the size of the individual rate of 16% for the insurance pension will remain. Suggestions and feedback on the initiative will be collected until October 15.

Earlier about cancellation of the funded part of the pension the prime minister was asked in the Federation of Independent Trade Unions of Russia. They believe that the funded pension is not working now, since the estimated age of survival, and hence the distribution of payments, is much higher than the actual one.

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