The FIU has named the date of introduction of the bill on pension capital to the state Duma

© RIA Novosti / Vladimir Astapkovich in photobacteria of the state Duma of the Russian Federation. Archival photoThe FIU has named the date of introduction of the bill on pension capital to the state Duma© RIA Novosti / Vladimir Astapkovich the image Bank

A bill clarifying the procedure for connecting the Russians to the new system of individual pension capital (COE) will be submitted to the State Duma before the end of this year, told RIA Novosti press-service of the Pension Fund of Russia.

The Ministry of Finance develops the concept of PKI in conjunction with the Central Bank. According to their idea, the key difference between the new mechanism will be that funds will be the property of the citizens. It is assumed that the formed and stored IPK will be in private pension funds, where citizens will be able to channel funds through employers or independently. Start-up capital can be the funds accumulated earlier in the framework of contributions to the funded part of pensions under the old mechanism. Finance Minister Anton Siluanov previously said that he expects that the mechanism of individual pension assets will earn in 2020.

«Pension Fund of the Russian Federation expects that the draft law on individual pension capital (COE), developed by the Ministry of Finance and the Central Bank, will be submitted for discussion to the state Duma before the end of the current year», — said the representative of the Fund.

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