Friday, September 23, 2016

Siluanov announced the concept of the new pension system – Economy News

Print the Ministry of Finance and the Bank of Russia is developing a new concept, a voluntary system of pension savings. The concept will submit soon, and she will be able to earn with 2018, said the Minister of Finance Anton Siluanov.

the Ministry of Finance said that taxes will not be changed the next three years! But then, in which it is planned to replenish the budget? The office sees several sources of reserves. In an exclusive interview to their lists by the Minister of Finance Anton Siluanov.

Authorities are developing new methods of accumulation of pension capital on account of every citizen. These funds will be used to inherit from, to insure and to take into account when determining the tax base for taxation income tax.

“the money needs to be more interesting than investing in foreign currency, real estate, deposits. They should be a tool to preserve those savings that workers will postpone their retirement. It’s important to live with dignity after retirement,” – said Siluanov.

the Cumulative component of the pension system are frozen as of 2014, the Insurance contributions of employers for citizens who made a choice in favor of the pension, go to the distribution part of the pension system. This allowed the authorities to save part of the budget in the transfer to the Pension Fund of Russia (PFR).

the Worker should think about the size of pensions since joining, said Siluanov. “Today, the average pension – about 13 thousand rubles, while the wages average around 34-35 thousand RUB there is a significant decline in living standards occurs (if retirement is approx. ed.) To prevent this from happening, you need to think about retirement since joining. And we create tools so the employee could start joining to engage in the formation of their savings for retirement,” – said Siluanov.

“next year we do not envisage a resumption of the old system of savings that we had three years ago. It’s true,” said the Minister.

offered by the Ministry of Finance concept involves the development of a voluntary system of pension savings. “We must create all necessary conditions to ensure that those workers who want to have a decent pension in the future, could have the tools to invest,” – said Siluanov. This can be a funded part of pension, Bank instruments, investments in real estate.

According to the Minister, investing in the cumulative part should be more interesting for citizens. The idea is to offer a tool that would be guaranteed to have a clear understanding on inheritance of these funds”.

in addition, the new pension system should allow for spending of the funds of the pension capital in the accumulation process. “Most importantly, the money needs to work for the citizen to be guaranteed,” – said the Minister.

“I think this year and next year we will find the optimal variants of development of the funded system. I hope that in 2018 we will be ready to play,” said the Minister.

In turn, the government intends to encourage voluntary retirement savings with the personal income tax from the tax base. “Accumulation of this money will be taken into account when determining the tax base for taxation. We are creating incentives for workers to accumulate”, – concluded Siluanov.

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