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Tuesday, March 20, 2018

Siluanov announced the development of a new voluntary system of pension savings

Russia’s Finance Minister Anton Siluanov said during a speech at the plenary session of the Moscow financial forum, which in 2018 should be running the new funded pension system.

photo: Mikhail Kovalev

Anton Siluanov

According to the Minister, it will be a voluntary system, in which citizens will participate voluntarily. Now this system is being developed and could be launched in 2018 and will bring profits for those who participate in it.

This new voluntary pension system created along with the Central Bank of Russia. In the near future, according to Siluanov, the Finance Ministry and Central Bank this project will present.

Siluanov also said that in 2017 does not provide for resumption of the system of savings that was three years ago. The calculation will be made on the new system. Siluanov said that the Finance Ministry and the Central Bank want to make all of the necessary conditions to ensure that workers are now citizens, aimed at getting in the future a decent pension, could have the necessary tools to invest. According to the Minister, it may be a cumulative part of the pension, banking instruments, or investing in real estate.

“We are talking about the fact that our citizens were offered a tool that would be guaranteed to have a clear understanding on inheritance of these funds”, — said the head of the Ministry of Finance.

He also added that people will be able partially to spend these funds retirement savings during the accumulation. “Most importantly, the money needs to work for the citizen to be guaranteed,” – said the Minister.

He expressed the hope that this next year will be found the best options for the development of the funded system.

Recall that the previously developed funded pillar of the pension system of Russia frozen 2014.


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