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Reform of funded pension is being discussed in Russia

They want to transform the “frozen” funded component of mandatory pension insurance (MPI) into a voluntary standardized scheme (NGO) in Russia. According to Kommersant, since the introduction of moratorium on formation of the funded part of pension, several concepts have been proposed for reviving it or transforming it into an NGO.
Reform of funded pension is being discussed in Russia

It is currently proposed to transfer ownership rights to the funded part from the state to people, the absence of a central administrator in the system, as well as external “soft push” for citizens with pension savings to join the standardized scheme. The transfer of MPI to the NGO at the request of the insured people will be complete and based on the contractual relationship with the NPF. The transfer of funds from one fund to another, thus, will be identical to the client’s relationship with the bank on the deposit: breaking the contract with one NPF and concluding a new one with another with the transfer of funds in a non-cash form.

Source: https://www.kommersant.ru/doc/5006319?utm_source=yxnews&utm_medium=desktop

Photos are from open sources.

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