We intend to leave the expected period of payment of the funded pension for 2022 at the same level at which it was set for 2021. This was reported by Rossiyskaya Gazeta.
The draft federal law calculating pensions was developed by the Russian Ministry of Labor and agreed with the Ministry of Finance, the Ministry of Economic Development, Rosstat and the Pension Fund. The explanatory note to the document states that the expected period for the payment of the funded pension for men and women from January 1, 2022 is proposed to be set at 264 months.
The Pension Fund of Russia recalled that funds can be received in the form of a lump sum payment, an urgent pension payment or in the form of a funded pension, which is paid for life. This can be done upon reaching the age of 55 for women and 60 for men.
Earlier, the Central Bank, together with leading non-state pension funds (NPF), prepared a new pension reform. It should encourage Russians to take an active part in the process of accumulating future pensions.
According to the new concept, the current funded part of pensions should be transformed into a system of non-state pension provision (NPO), which will complement the already existing similar mechanism. Thus, the Central Bank intends to reform the current system, despite the failures of the projects of the individual pension capital (IPC) and the guaranteed pension plan (GPP).