The Ministry of Finance proposed to extend for 5 years the choice of pension provision

Moscow. November 3. The Finance Ministry proposes to extend for 2016-2020 the right of citizens to choose their pension provision on the conditions prevailing in 2014 and 2015.

According to a source in the financial-economic bloc of the government, relevant amendments, the Finance Ministry has sent for approval to the office last Friday.

In accordance with applicable law, insured persons 1967 year of birth and younger in 2014 and 2015 were entitled to choose his pension, redistributing part of the tariff of insurance contributions to the funded pension in the amount of 6% of the total amount of premiums. The Russian professional Association in the financial market – NAUFOR, ARB and NAPF, as well as the Central Bank and the Finance Ministry had advocated the renewal of the right of citizens to move from Pension Fund to pension Fund a minimum of one year.

According to a source, the main argument of the Ministry of Finance in favor of a five-year renewal – significant changes in the rules of the game that hinder a deliberate choice by the citizen of his pension (to freeze the cumulative part of the pension, changing the right choice – the choice between 2% or 6% rate to the funded part to a complete renunciation of the formation of the cumulative pension, but also changes in the system of control and supervision of investment of pension accumulation and activity of the NPF).

To stabilize the operation of new mechanisms and institutions, a minimum of five years, believes the Finance Ministry proposes to extend the right of choice of pension provision of citizens in 1967 and younger, until December 31, 2020.