Its size can exceed old-age insurance payments
The Ministry of Finance is developing the concept of quasi-voluntary corporate pension provision with “maximum coverage of different categories of workers.” Let the prefix “quasi” not confuse anyone. You need to understand that in the medium term, such payments may become a separate type of voluntary pension provision. And turn into a serious add-on to old-age insurance pensions.
In order for the idea to be implemented, tax incentives for employers are necessary. Namely: exemption of the company from paying income tax on funds that will be allocated to the long-term savings program.
The pension issue is probably the government's biggest pet peeve. In any case, after the pension reform started in Russia 5 years ago — with an increase in the retirement age and a freeze in indexation for workers. The state seems to be doing everything to increase payments to elderly citizens, but its possibilities are far from limitless: there is no “extra” money in the deficit budget.
Experts suggest buying yourself a decent pension — or rather, pension points, so that in old age years without being on social benefits at the subsistence level.
Disputes about the so-called fair pension continue. Thus, economist, director of communications at BitRiver Andrei Loboda believes that today it should be no lower than 50 thousand rubles per month. And any revaluation of existing payments would be good to carry out after the ruble exchange rate has become stable for many years and without accelerating inflation.
In general, there are enough recommendations. The size of the pension in Russia is small, but the types of pensions themselves are becoming more and more numerous. So at the site of the research financial institute of the Ministry of Finance of the Russian Federation, discussions are currently underway regarding quasi-voluntary corporate pension programs.
The Ministry of Finance is working on a new initiative, on which “in the medium term” 9 discussions can last 5-7 years, it gives different categories of workers hope for a secure old age. Although about the maximum coverage of different categories, most likely, it’s a beautiful hyperbole. Probably, the new type of pension can take root in large corporations — it’s not called corporate for nothing.
Professor of the Financial University under the Government of the Russian Federation Alexander Safonov also shares this opinion.
“I believe that not every company will be able to introduce corporate pensions,” he believes. – Small and medium-sized businesses, most likely, will not do this. If only for the reason that they do not have permanent staff who would work for 20-25 years. They simply don't have that history.
Large structures can generate such payments, provided that their business is developing well, business is going uphill, and in general everything is fine. However, even in this case, it is unlikely that the “parallel” pension will affect all employees, and it is possible that only top managers.
– It must be borne in mind that employers already today have the right to make contributions to employees’ funded pensions. The legislation provides benefits for such contributions to non-state pension funds. However, in fact, for a long time there has been a certain decline in investment in non-state pension funds both from the state and from companies. This is an understandable story: in this way, corporations are trying to reduce personnel costs. These costs are already growing due to competition in the labor market, due to the need to increase employee salaries.
So, a dilemma arises. What is more important: funding future employee pensions for decades or paying them salaries here and now? I believe that the majority will make a choice in favor of today's realities. And the citizens themselves would prefer a bird in the hand than a pie in the sky.
I don’t think that the option of corporate pensions will become widespread in the near future. But it can exist as an option.
– Of course. The question is how much money the employer will contribute. But, I repeat, this will have to be done from the employee’s salary. This is what he would prefer: to receive a salary of 80 thousand rubles a month or 60 thousand, and save 20 thousand for old age? As they say, guess three times.