Freezing of pension cumulative part is extended until 2021

UFA, 22 November 2018. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/. Deputies of the State Duma adopted a law to extend the freezing of the cumulative part of the pension of Russians until 2021, reports TASS.

In particular, it establishes an obligation of the Pension Fund of the Russian Federation "to take into account contributions to compulsory pension insurance in 2021 based on the full size of the individual part of the insurance premium rate to finance an insurance pension". Now, this rule is established for the period 2014-2020.

As noted in the financial and economic rationale, the implementation of the law will reduce a transfer from the federal budget to the Pension Fund in 2021 by 609.1 billion rubles.

Earlier, the extension of the freezing of the cumulative part of the pension and for 2021 was announced by the head of the Ministry of Labor, Maxim Topilin.

According to him, the moratorium on the formation of pension savings, which has been in force since 2014, saved the Russian budget about 2 trillion rubles. In December last year, a law was signed to extend the freeze until 2020.