Russian President has extended freezing of pension funded part until 2020

UFA, 21 December 2017. /Bashinform News Agency, Ksenia Kalinina/. The President of Russia Vladimir Putin signed a law on the extension of freezing of the funded part of pensions until 2020. The corresponding document is published on the official portal of legal information. The law will enter into force on January 1, 2018, RIA Novosti reported.

These measures will reduce a transfer of mandatory pension insurance from the federal budget to the budget of the Pension Fund in 2020 by 551.3 billion rubles, the authorities believe.

In 2016, the pension savings were frozen until 2019.