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The central bank explained the principle of a new scheme of pension savings
The Russian government is preparing to submit to the State Duma a bill on a guaranteed pension plan in order to encourage citizens to save for a decent old age. According to the plan of the Central Bank and the Ministry of Finance, the employee himself will be able to send any amount and stop deductions at any time, the state only needs to ensure the safety of finances, as well as provide tax incentives and convenient service.
As told in an interview "Russian newspaper" First Deputy Chairman of the Central Bank Sergey Shvetsov, the product will be of more interest to citizens with a monthly income of 45 thousand rubles per person in the family. You can instruct the employer to deduct part of the salary for savings, the employee determines the percentage himself. According to Sergei Shvetsov, this will protect the accumulations from misuse.
Payments will begin either 30 years after the start of savings, or upon reaching retirement age. It is assumed that at the end of the funded phase, a person will have a choice - to receive all the savings entirely and immediately, by paying income tax, or to acquire a lifetime pension plan. As Sergei Shvetsov noted, while one standard version of such a plan is proposed for 15-20 years in advance, however, every two years it will be reviewed and renewed for another two years.
The Central Bank and the Ministry of Finance do not make big expectations for the first five years of the operation of such a mechanism. It will all depend on the results that pension funds will show and how much they manage to bring to the employers and citizens the benefits and value of the mechanism for a particular employee.