Russian Fin Min says readies draft on voluntary pension savings

MOSCOW, Jul 1 (PRIME) -- The Russian Finance Ministry and the central bank have completed their proposal on establishment of insured voluntary pension savings, Minister Anton Siluanov said at a congress on Friday.

“The basis of the system is ready, we will consider it in the government and in parliament in autumn, I think. This is the key area, a supplement of the non-banking sector with financial resources. We have the resources, we have the finances in fact. We need to concentrate them in the right way.”

Siluanov reiterated that the Finance Ministry will allow citizens to inherit pension money and to withdraw large sums at once in such cases as need for healthcare.

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