The state Duma adopted a law to extend freeze of the cumulative part of the pension

© RIA Novosti / Alexander Krauledat in fotobounce. Archival photoThe state Duma adopted a law to extend freeze of the cumulative part of the pension© RIA Novosti / Alexander Krajevima the image Bank

The state Duma on Wednesday adopted in the third and final reading a bill that proposes to extend until 2020 the deadline for contributions to mandatory pension insurance.

«The bill establishes the duty of contributions for compulsory pension insurance in the year 2020 based on the direction of the full size individual piece of insurance contributions to Finance pension insurance. This approach without changing the rate of insurance contribution is currently implemented in the legislation in respect of insurance contributions for compulsory pension insurance coming in 2014-2019 years», — stated in the explanatory Memorandum.

It is noted that such measures will not reduce the amount of pension rights of insured persons in system of compulsory pension insurance.

According to the draft law, the initiative will not entail additional expenditure obligations of the Federal budget and the budget of the Pension Fund of the Russian Federation and will reduce «transfer of mandatory pension insurance being transferred from the Federal budget to the budget of the FIU in 2020, according to preliminary estimates, 551,3 billion roubles».

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