Russian official says govt can abolish pension savings

VLADIVOSTOK, Sep 2 (PRIME) -- The Russian government is projecting a 2017–2019 budget on an assumption that there will be no accumulative part of pensions in the period, or it may be cancelled altogether, Deputy Prime Minister Olga Golodets told PRIME on Friday.

On Wednesday, she said that the government will use pension savings of the working people for 2017 to pay to the current retirees. The measure was used for the first time for savings in 2014 to spare more state money for the current pensioners and extended later year by year.

“We say that the transfer (of money to the state Pension Fund) has not been included in the budget for three years. We have not discussed in the government what law will be submitted. This could be a freeze or a cancellation. We just say that there is none and we do not know yet in what form,” Golodets said.

End