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Funded part of the pension can not be reduced or eliminated - Finance Ministry
1 September 2012, Saturday
The Ministry of Finance maintains its position regarding the funded part of the pension, insisting that it can not be cut or eliminated, Finance Minister Anton Siluanov told reporters on Saturday.
"Our position is as it was and remains that the cumulative part can not be touched," - he said.
Previously Ministry of Labor has prepared a draft strategy for development of the pension system in Russia up to 2030, which proposes the implementation of so-called "insurance maneuver": reduce the 6% rate and accumulative reallocated severally, in the amount of two or 4%. Subsequently, in 2015, it is expected that the Russians will give the right to choose: either build on existing savings scheme, when 6% of the insurance rate goes to the funded part of the pension, or to refuse it and the whole tariff 22% spent on the insurance part. In this case, the citizens decided to collect a pension, will have to make their own 2% of the salary to the funded component.
"Our position is as it was and remains that the cumulative part can not be touched," - he said.
Previously Ministry of Labor has prepared a draft strategy for development of the pension system in Russia up to 2030, which proposes the implementation of so-called "insurance maneuver": reduce the 6% rate and accumulative reallocated severally, in the amount of two or 4%. Subsequently, in 2015, it is expected that the Russians will give the right to choose: either build on existing savings scheme, when 6% of the insurance rate goes to the funded part of the pension, or to refuse it and the whole tariff 22% spent on the insurance part. In this case, the citizens decided to collect a pension, will have to make their own 2% of the salary to the funded component.
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