Alas, now the Russian Federation is going through not the best moment of its existence. This affects a number of government decisions. For example, the freezing of pension savings has been going on for a long time, and, apparently, it will be active for quite a long time. What it is? How will the freezing of pension savings affect the pensioner now and in the future? And how might this affect us?
What are funded pensions
Before considering what a pension savings freeze is, it is necessary to define the terminology. In fact, this is real money that a specific person can dispose of. The amount of the future pension directly depends on the amount placed on the savings account of each individual. Considering that the insurance was equated to points and now depends directly on the size of the pension fund budget, it can be expected that together they will be able to create a sufficient financial cushion when they reach retirement age. In addition, such an option, which is legally formalized, allows you to know the approximate level of payments for the future. If allconverted into a contributory pension, it will be literally impossible to calculate how much payments will be in the long term.
What is the freezing of pension savings in practice
This means that the money that should have gone to the funded part will be used to cover the expenses of the budget of the Russian Federation and its subjects. The law on freezing pension savings was first adopted in the fall of 2014. As you can see, the less money gets into the account of each individual person, the less he will receive them later. But the disadvantages (and, no matter how strange it may seem, the relative advantages of such a solution) will be discussed later. Now let's talk about what was taken as the basis for this decision.
What was the basis for this decision and what will be the effect
As you know, the Russian Federation has been under sanctions for several years now. The budget has significant problems, and they must be solved at someone's expense. As a response to the challenge, they took and took away the funded part of pensions. What can be expected from such a decision? At a minimum, the economy will not be able to receive approximately 800 billion rubles. If the savings money does not come to the market, then the imposed sanctions will hit the state with significant force. Otherwise, they can act as a shock absorber for the situation.
If you create a complete picture, then you need to consider everything from 2002. After all, it iswhen the possibility of an integrated approach was created, many people chose the accumulative pension fund, as well as various private management companies (which, however, were not widely used). As a result of the actions of the state, the credit of trust is now exhausted, which makes it problematic to communicate from a position of cooperation. In fact, earlier, by investing money in the funded part of the pension, citizens made it clear that they believe that their funds will be useful, will be useful, and thanks to effective management, they will also be able to receive more maintenance in old age. Now that confidence is gone. So we know what a freeze on pension savings is, but what if we consider everything from the point of view of “unprofitable”, and what can be said about such a decision by the authorities?
Pros
They are more pleasant, because everyone likes to talk about good things. Summarizing, it should be reported that social infrastructure facilities (such as kindergartens and schools) will be built, social benefits will be paid and a number of other useful public actions will be carried out. This step will avoid delaying payments to state employees. Police, firefighters, doctors, teachers will receive wages and perform their functions.
Cons
It's true that all this will be carried out not at the expense of the money that came from the state or local budget, but from the funded part of the pension savings of all working people. Of course, this practice was carried out earlier in many countries andquite successfully, but, as a rule, these are isolated cases that were used to support the real sector of the economy. That is, for the economy, this action is not very useful. The funds previously transferred to the accumulative pension fund were previously invested in the stock market. But when foreign markets closed, a significant outflow of capital began to occur. How does this affect the stability of the situation?
Let's take an example: Private and public banks can now borrow less money from the stock markets. Accordingly, they will be more picky about individuals and legal entities, there will be more refusals to buy things (creating an incentive to buy something) and to implement new projects. And those that will be given out will do it at a higher rate than now. And buying a refrigerator or TV on credit now will cost much more than three years ago. But in the modern economic system, it is difficult to do without loans. They serve as a kind of "steroids" for the economic sector - it is growing, and with it the wages and welfare of the population of the state.
Problems in this case
What are the possible consequences of freezing pension savings? The issue of credit was considered, but it is not the only one. Another, perhaps even greater, is that due to the inefficient use of funds, the level of citizens' trust in government is falling, and let's look at this using the example of NPFs.
Freezing pension savings, and, accordingly, not receiving money will seriously affect the number of citizens who want to use its services. So, in 2014, it was announced that the freezing of pension savings will be only now. A lot of time has passed, and we can observe that the promise made has remained the same. The government cheated and changed its mind. Also, the introduction of new provisions at a low level of trust allows us to talk about even greater suspicion on the part of civil society. So, earlier, persons who were younger than 1967 were asked to keep money in the funded pension. Their number depended on age, work experience and various other factors. Now they have been replaced by points. Previously, a citizen could know that his insurance part has 10 thousand, and the funded part - 5. There is a complication, and due to the fact that it was not properly explained, it again raises suspicion of what and how.
Let's at least deal with the new system within the framework of this article. The fact is that one point provides a certain amount of money. But the legislation of the Russian Federation causes considerable concern. So, let's say, one point now is one hundred rubles. But tomorrow - only ten. The use of points is quite popular in the world - for example, Switzerland, France and a number of other states use similar ones. But our sovereign changes in this way are not very inspiring for an optimistic future. But there is a fact - the freezing of pension savings. Feedback from ordinary citizens can tell us about this decision:
- Dissatisfactiongeneral state of affairs.
- Lack of support for decisions that will negatively affect the pension and its size.
Conclusion
We think there are no more questions about what a freeze on pension savings is. Well, now we can consider that the goal has been achieved. Readers know what pension reform is.
