In terms of external threats
Russian government decided to transfer pension savings
insurance funds in 2015. According to the Minister of Labour and Social
Maxim Topilina protection, the insurance part is always indexed more
rapidly above the inflation rate. What other arguments prompted the Cabinet to
make this decision? On this and many other heads of departments
said in an exclusive interview with Vesti.
In
terms of external threats, the Russian government has decided to not only
limit the access of foreign products on the market, but also to translate
accumulative pension funds to insurance in 2015.
Maxim A., the last topic that relates
to your department, the decision to transfer is still funded
part of the contributions to the distribution part in 2015. There are many
opinions both for and against, in particular, your agency was behind this
initiative. What are your arguments in favor of this decision?
You are right to formulate a decision that is taken. It is not
extension of the freeze savings as often lately
speak. This solution is that those contributions which have been
go to the funded part, if not change the law,
will be included in the distribution of insurance. Such a solution
made in terms of its implementation, the Ministry now prepared
JavaScript execution of the decision.
to argue that
funded pillar in recent years, and in general in the history,
shows itself is not very efficient and it makes us constantly
to reflect on her life as well.
Your
opponents said before, that this money shall be withdrawn from the
economy, that is, 280 billion in 2015, in fact, the economy is not
receive. How to be?
This is not so. If someone
counted how many were given the last years, code the money went into the collection
component, which was the contribution here is that the funded component in
economic growth. Why is it now begin to say that we
nedoberem 1.5 percent growth or is there a percentage. This one never
and no one ever thought we will not respond much sooner given these
investments where they went.
So no, I’m sure, such
calculations did. As for the idea that the money will be withdrawn
of the economy. Indeed, the cumulative system works,
that in fact the state, the federal budget should be seized
funds to compensate for the funded from the federal budget
a transfer budget of the Pension Fund. It turns out the double
costs.
We give back funds and then reimburse from
federal budget transfers. When the money goes to
a distribution component, on the one hand they form a right
future retirees in this volume with the guarantees, on the other hand in
current mode they go to current payments. In this regard, the budget
these are $ 270 billion, which will obviously be spent on
any purpose. It can be social programs. This can be
investment programs, and they will go in the economy, of course.
Part Deng, which were released this year, went
in support of the Crimea. Already have any plans for the money
will appear in the next year?
While I do not know about it. While
all ministries with the Ministry of Finance, headed up the budget and
answer to this question will be on September 15 when the project budget will be
The government is ready and it will consider at its meeting.
September 18-19, and it will be sent to the Duma. And already there is an answer to
this issue.
Maybe this will be a reserve, as well as this year.
Can not say that this is money that came from or nakopilovki
from the pension. It’s just, in my opinion, reasonable design
financing of pensions, the state does not appear necessary
is not clear where the money for the future post.
I understand that you are not satisfied with the work of APF. What is the problem? No motivation or some other difficulty is?
It’s hard to talk about the NPF now. All answers will be. Now Playing
procedure entry NPFa in guarantees. Many are in the NPF
safeguards system and I can not say that we have some
claim to their work. Here, under the responsibility of financial
regulators and I think that here the order will be put in this year. Prior to
end of the year should end this situation of entering the system.
No
no complaints, we just compare the results. After all, we are responsible for
pensioners and above all, and, again, I would like to see it
was heard. The Government is responsible for the fate of their future and
retirees. It is unique. And yet we see that this tool it
does not give the expected results.
We have about 18 million
people now are in the NPF. And if we take this year, a total of
only for six months, I think, about 500-600 thousand, that is 20 times
fewer people this year have decided to transfer their funds
insurance premiums, part of the interest in the NPF. Why? Because with this
only the citizen of the year by the Pension Fund must submit a
statement.
The government is thinking about canceling the funded part of the pension?
Yes,
this is discussed. But this does not cancel the funded part of the pension. It
is not quite so. In our opinion, the format in which
funded pension exists today in our legislation, it is
actually mandatory funded pension. Yes, the citizen has
the right choice. It was not two years ago. We are part of the pension
reform could at least give this right to citizens – want to
distribution, like the funded. At least some element
voluntariness. But all the same it is in fact mandatory.
In
Basically essentially funded pension in the classical model,
which is used in most countries of the world, the vast majority
countries of the world, in countries with standard conventional products, it
France and Germany, there is no such mandatory funded systems.
This voluntary system.
Countries that in the early 90s,
someone a little earlier, some a little later began to use such a system.
These are the countries of Eastern Europe, the Baltic countries. They are already of
almost all either refused or very sharply reduced size
tariffs.
It should be so that the citizens themselves were determined and
additionally formed a contributory pension. I think that we will
to continue working in this direction.
That is, the choice will probably be much more widely? You can
will not only choose the NPF, but in principle the need to
funded part?
Please, fear of life, as
anything. That is, if the money earned in the investment, because
then this is the choice of the person and the person himself gives money, and he
Determine how much riskier portfolios can be, and so on.
Those
people who choose a funded pension system, they
do so, the employer pays for them, and thus no
guarantees that the money will be with some growth, no no
guarantees does not sign, the Treaty does not. Can only be guaranteed
denomination.
What is the fate of private pension funds in the future, as you see it?
I
believe that they have a wonderful destiny. They have the old
savings that were previously listed. It is a serious
resource. They need to work with them. Who will be introduced
guarantees. They Grow Joint Stock and with all the means that they
were, they would have to work and it’s rather big resources.
Some
believe that the measures which had been adopted, she says that
there are difficulties in the pension system, which is not enough money. You
refuted this information.
Yes. Also a strong opinion
that the Pension Fund has a deficit. Completely wrong opinion. In
Pension fund has no deficit. The Pension Fund is
different, I would say, shortfalls that
under-collected in connection with the adopted at the legislative level,
solutions. As much as we collect premiums
as much as for all these legal exemptions from tariffs,
or higher pensions lacks the Pension Fund,
so much to come in the form of transfer. It’s not the deficit. It’s just
funding model. Part of the insurance premiums, some of
federal budget in connection with the decisions taken.
There are factors that pay pension premiums. These factors are linked to the budget.
Do you mean the value of the pension factor, but it is the task of
2016 year. We are now working with her. This is the topic of the law on insurance
Pensions, which was adopted last year as part of the pension
reform and it is such a new indexing mechanism.
Will
coefficient value of the pension, which will be fixed in the law
on the budget of the pension fund. Now we are coordinating with the Ministry of Finance
parameters of the budget of the Pension Fund, are working on this value in
2016. In 2015, still will not be indexed by the value of the pension
retirement factor. Is a common mechanism for indexing. Above these,
parameters we are working with the Ministry of Finance. But still it is inflation plus
yield, that is, it is always higher than inflation.
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