The statement of the first deputy chairman of the Bank of Russia Sergei Shvetsov that citizens by the time of retirement should not rely only on the state is unsuccessful, the head of the Central Bank Elvira Nabiullina told reporters. The problem is that most of today’s retirees did not have the opportunity to accumulate savings in old age, she explained.
“I regret the extremely unfortunate wording of my deputy on the issue of supporting pensioners. Most of those who have already retired or are leaving now did not have the opportunity to make savings for old age. And, of course, this is one of the priorities of the state – to provide a decent pension for everyone, ”said Nabiullina (quoted by TASS).
Now the Central Bank is working on the development of non-state pension funds (NPF) so that citizens have the opportunity to make long-term savings for old age, the head of the regulator noted. In addition, according to her, the activities of the Central Bank are aimed at increasing financial stability so that people in the future have the opportunity to receive income from funds in bank and investment accounts without fear of losing money.
“But these efforts are an addition to the state pension system,” Nabiullina emphasized.
Today, during a meeting of the Federation Council Committee on Budget and Financial Markets, First Deputy Chairman of the Bank of Russia Sergei Shvetsov said that, in his opinion, it is too late to help current pensioners. It is necessary to encourage people to form capital during an active life, he explained, pointing out the possibility of buying real estate for further leasing, going public and creating savings with the help of pension institutions.
Shvetsov noted that now the approach to pension in Russia is close to the “Soviet past”, when with the onset of old age, citizens hoped for the support of the state. However, in reality, it is necessary to form own capital throughout life, said the first deputy chairman of the Central Bank.
According to Rosstat, the average pension in Russia at the end of July this year amounted to 15 802 rubles. The indicator increased by 5.5% compared to the same period in 2020, but in real terms it decreased by 0.9 pp at 56 300 rubles. per month.
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