The State Duma adopted a law on guaranteeing savings in NPFs
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The State Duma adopted in the third reading a law on the creation on the basis of the Deposit Insurance Agency (DIA) of a system for guaranteeing citizens’ pension savings in non-state pension funds (NPF) for non-state pension provision (NPO). The law will take effect on January 1, 2023.
According to the new law, the system will be built by analogy with the mechanism in bank deposit insurance systems. Cancellation of the NPF license, if it was not voluntary, or bankruptcy of the NPF will be considered guarantee cases.
At the accumulation stage, participants will be guaranteed the balance of funds on nominal pension accounts – contributions from the participant himself, his employer and other persons, taking into account the result of their placement. They will not exceed the limit of the guaranteed amount – 1.4 million rubles. The same limit is currently used in the bank deposit insurance system.
At the stage of payments, the law provides for a guarantee of payment of any pensions in the amount paid on the date of the guarantee event, but not more than two sizes of the social old-age pension.
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