The Central Bank is preparing a plan to withdraw pensions from Russians
Before the presidential elections passed, representatives of the liberal wing of the financial and economic sector made themselves felt. Apparently, the next “retirement maneuver” under a specious sound is entering the implementation phase.
The head of the Central Bank of the Russian Federation, Elvira Nabiullina, who received the nickname “Hurricane Elvira” during the cleaning of the banking sector, complained that the country lacked the so-called “long money”:
It is curious what exactly Elvira Sakhipzadovna understands by “long money”, and in what she sees their purpose. The head of the Central Bank explained that her department supports the idea of an individual pension capital system. According to the concept developed by the Central Bank, instead of the employer, contributions to the funded part of the future pension will be made by the employee himself, deducting 6% of the salary. Contributions to the individual system will allegedly be taxed. It is noteworthy that initially it was assumed that when applying for a job, citizens should automatically be signed into the individual funded system with the right to refuse, but with subsequent refinements to the concept, employees received the right to consciously and explicitly express their consent by signing a separate document. It is assumed that the new pension system will work from 2019.
However, some questions remain. Funds under an individual funded system will be transferred to non-state pension funds, which the Central Bank calls the source of “long money”. Is it possible in our realities to consider NPFs as long-term investors who will raise the Russian the economy? Will Russian citizens, accustomed to constant deception, be ready to trust their “long money” with non-state funds, and what will be the alternative for them if they want to refuse to participate in the program?
The head of the Central Bank of the Russian Federation, Elvira Nabiullina, who received the nickname “Hurricane Elvira” during the cleaning of the banking sector, complained that the country lacked the so-called “long money”:
We are also responsible for the development of the financial market and the emergence of "long money" in the country. We really set ourselves the task of creating “long money” in the country
It is curious what exactly Elvira Sakhipzadovna understands by “long money”, and in what she sees their purpose. The head of the Central Bank explained that her department supports the idea of an individual pension capital system. According to the concept developed by the Central Bank, instead of the employer, contributions to the funded part of the future pension will be made by the employee himself, deducting 6% of the salary. Contributions to the individual system will allegedly be taxed. It is noteworthy that initially it was assumed that when applying for a job, citizens should automatically be signed into the individual funded system with the right to refuse, but with subsequent refinements to the concept, employees received the right to consciously and explicitly express their consent by signing a separate document. It is assumed that the new pension system will work from 2019.
However, some questions remain. Funds under an individual funded system will be transferred to non-state pension funds, which the Central Bank calls the source of “long money”. Is it possible in our realities to consider NPFs as long-term investors who will raise the Russian the economy? Will Russian citizens, accustomed to constant deception, be ready to trust their “long money” with non-state funds, and what will be the alternative for them if they want to refuse to participate in the program?
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