The leading task of any changes to the country's pension law is the introduction of measures aimed at creating the conditions for the formation of sustainable retirement benefits. Simply put, the formation of a portfolio of those assets (money) that will form the basis of payments to individuals for their survival period (i.e., the time they spend actually retired).
The World Health Organization records an increase in life expectancy of people by an average of 7 years compared with 20 years ago. That is why many states had to face serious pension budget deficits. Banks without exception began to offer a certain, supposedly able to hedge, accumulative pension deposits system, and the official system itself every year began to cause a huge number of complaints, disputes and doubts about its effectiveness. Such a pension crisis has not spared Russia.
Some countries have taken the simplest path: they have increased the retirement age. In Russia, this option has not yet been considered.
Pension legislation novels
Unlike previous years, according to the new official law on pensions, a certain mandatory part of individual monetary contributions will be determined, which is funded in nature: all citizens of the country will be able to choose the private funds that they like, which in fact will continue to manage the accumulated people entrusted to them.
It is worth noting that the adoption of the law on the elimination of the "double" accrual system was extremely important. Indeed, before ordinary citizens and senior officials, the pension was calculated according to completely different formulas. Now, officials and ordinary residents of the country keep records of future pensions according to exactly the same scheme, depending only on their personal experience and earned in the official salary mode. The size of the pension funds themselves after multiple changes will directly depend on the totality of several components: declared income, amounts of savings and the type of pre-selected fund.
It becomes very clear that now it will be much more profitable for every worker to declare his real "white" salary in the tax and pension, rather than the one listed in the conditional statement given by the boss. Hiding any of his income, a person intentionally and ahead of time reduces his future pension, so the “black” salary, which is handed out and is not reflected in any way, will become the main problem for establishing a normal level of pension savings.
