The Russians have to bring in a new system of voluntary pension savings («guaranteed pension plan», GPP) is almost 1 trillion rubles in the first year of its launch
Moscow-Live.ru / Akishin Vyacheslav
This target proposed economic development in the draft plan of work of the governmental Commission on economic development. However, experts believe these figures are overstated
The Russians have to bring in a new system of voluntary pension savings («guaranteed pension plan», GPP) is almost 1 trillion rubles in the first year of its launch. This target proposed economic development in the draft plan of work of the governmental Commission on economic development. However, experts believe these figures are overstated, says RBC.
The law on guaranteed pension plan expected to be adopted by 1 July 2020, the new system will be launched in 2021. According to the draft Ministry of economic development, the volume of voluntary pension contributions of Russians accumulated in the system will increase from 0.96 trillion in 2021 to 1.54 trillion in 2022, up to 2.2 trillion in 2023 and up to 3 trillion in 2024. Every year the inflow of new money in private pension funds in the GSP will be between 0.6 and 0.8 trillion roubles in the years 2022-2024. This assumes that in 2022 every 10 rubles collected for compulsory pension insurance will account for 1 ruble, raised voluntarily.
The salary Fund of employees in the baseline forecast of economic development, will grow from 29.5 trillion in 2022 to 34.1 trillion in 2024: the Agency plans that Russians on average will deduct from the wages of 2-2. 3% for voluntary pension savings. The launch of the new system of pension savings after six years of the freeze, along with improving the investment climate and reducing regulatory restrictions on businesses should increase investment to 25% of GDP by 2024.
Meanwhile, experts believe that the evaluation of attracted funds in amount of almost 1 trillion in 2021 looks overpriced and represents a significant flow of funds into a new pension system in the first year of its launch. The developers of the project suggest that the majority of citizens want to exercise the right to transfer all of their frozen accumulation of GPP. Now in the non-state pension provision consist of only about 4 million people, the vast majority of other Russians are not interested in the programs of voluntary pension savings and start to make savings for retirement when income is 45 thousand rubles.
Therefore, the new pension system will be in demand only after the level of the lowest common wage will reach this figure: now the figure is 23.5 thousand rubles. In addition, the income of the majority of workers simply do not allow to pay for future retirement something meaningful in a protracted drop in income.
Held in summer, the poll showed that 63% of Russians would not like to make additional contributions to private pension funds (NPF) in addition to the existing mandatory employer contributions. Only 29% of respondents expressed a willingness to further deduct money from their income. The Finance Ministry estimates the maximum coverage of the new system is at 72.5 million of the number of employees and self-employed.
In addition, the unwillingness of Russians to save for a pension to be confirmed by two already successful experiment of the authorities — the programme of co-financing of pension savings, operating since 2009, and non-state pension provision, which are now about 6.5 million people, mostly employees of large Russian companies. And the attitude of Russians to the new funded pension system can be called «supercritical» even when it is voluntary.
According to a study conducted by the portal SuperJob, Russians believe the optimal size of the pension for a decent retirement amount of 40 thousand rubles per month. The highest idea about a decent pension among the inhabitants of megacities — among Muscovites and Petersburgers: 43900 42200 and RUB, respectively. In third place — the residents of Vladivostok (42000 rbl.). The most modest level of pension needed for a decent life, called residents of Kirov, Naberezhnye Chelny and Yaroslavl: 34900, and 34700 34500 rubles per month, respectively.
In the opinion of the majority of Russians, their main source of income upon reaching retirement age will have a job or part time job (29%). The state pension is calculated 22%. Personal savings — 14%. Three percent in case of need to appeal for financial support to the children. Another three percent plan to use the capital generated from deductions in private pension funds. Respondents older than 45 years more often than others counting on a state pension (26%), and one third plan to work until you have the strength. Notably, this strategy was followed by 37% of Russians with a salary of 80 thousand rubles.