The State Duma proposed to conduct a pension reform

State Duma Deputy Nilov proposed to abandon the funded part of the pension pensions in the compulsory pension insurance system (OPS). He published such an initiative in his Telegram channel.

“It is necessary to immediately withdraw the funded pension from the OPS system, where it was introduced erroneously from the very beginning, and stop freezing it,” the deputy said. Nilov is sure that “everything that is now offered to citizens should be exclusively voluntary.” The deputy also stressed that the Russian authorities need to create the most comfortable conditions for earning a non-state pension of their own accord.

Nilov added that Russians are hesitant to make contributions voluntarily due to the low level of confidence in the country's pension system. “With such a level of public distrust of the pension system, small pensions, and non-state pension funds, it is extremely difficult to induce people to voluntarily form a pension with low incomes,” wrote Nilov. It is this circumstance that prevents the government and the Central Bank from proposing an alternative solution for the independent formation of a funded pension.

A LDPR deputy voiced his proposal, commenting on the initiative of the Russian Center for Strategic Research (CSR) to create a unified non-state pension plan for the self-employed. According to the Federal Tax Service, 99 percent of those who work for themselves do not save up for old age on their own, so they can only count on the minimum social pension.

The authorities and market representatives from the CSR have proposed a scheme in which the platforms, with the consent of the employee, will withhold a share of his income from each order as pension contributions and send them to a single account of the employee in a non-state pension fund. According to the plan, companies will also be able to deduct additional funds at their own expense.

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