Putin signed laws on guarantees for participants in voluntary pension programs

Russian President Vladimir Putin signed a package of laws, according to which, from January 1, 2023, systems will be created to guarantee the rights of participants in voluntary pension programs. The documents published on the official Internet portal of legal information.

A system of guaranteeing the rights of participants will be created on the basis of the Deposit Insurance Agency. It will work by analogy with the systems of deposit insurance and guaranteeing the rights of the insured in compulsory pension insurance. The measures will affect those who should be paid a non-state pension.

The guarantee case will be the cancellation of a license or the bankruptcy of non-state pension funds (NPFs). Participants of the programs will be reimbursed at the expense of the Pension Reserves Guarantee Fund. It will be formed at the expense of annual guarantee fees of NPFs and other sources.

During the accumulation, participants will be guaranteed a balance of funds on personal pension accounts of no more than 1.4 million rubles. During the receipt of pensions, payments are guaranteed in the amount paid on the date of the guarantee event and no more than two payments of an old-age pension.

Olesya Pavlenko