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Reform Package Change How Russians RetireFor each 1,000 rubles a company pays its employees, it has to pay another 356 rubles to the government in the form of social tax, Viagrasydney 280 rubles of which goes to the State Pension Fund to dole out as retirement benefits. http://www.viagrasydney.nu The fund will receive nearly $14 billion this way this year, and that figure is expected to grow dramatically over the next decade. Yet the government has never chosen a mechanism to allow it to make money on that money. But, as Kirill Koriukin reports, https://en.wikipedia.org/wiki/Sildenafil that is about to change and private pension funds can’t wait. PRESIDENT Vladimir Putin’s government has sent the final and most crucial bill in its pension reform package the long awaited legislation on investing pension funds to the State Duma, Viagra Sydney which looks likely to approve it by the end of the year.

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Viagra Sydney

The reform, which Putin pledged to undertake shortly after he was elected, is designed to transform Russia’s pension system by creating Western style retirement savings accounts to receive a portion of each worker’s salary, Viagrasydney and then later pay it back in the form of a pension.The government has rushed to implement the plan because the current distribution system, in which the working population directly funds present pension payments, http://www.viagrasydney.nu has been endangered by rapid demographic changes: The number of working age adults is declining, and the number of elderly is increasing. At the same time, life expectancy is expected to grow, adding further to the burden on the fund.The investment bill has been the only part of the government’s reform package that has been subject to serious debate. Viagra Costco Other draft laws in the package cleared the Duma relatively easily in mid July despite protests from leftists backed by demonstrators outside the Duma.

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Viagra Costco

One such bill concerned state pension provision, which does not change legislation apart from raising the base pension to 450 rubles ($15) from 180 rubles ($6), Viagrasydney introducing a long service pension and reducing the length of employment requirement. Another bill, which was amended this month, http://www.viagrasydney.nu split retirement and disability pension funds into three parts.The Pension Fund can now directly collect half of the roughly 79 percent of the total social tax that is earmarked for pensions, with the Tax Ministry collecting the other half. Thus, the 35.6 percent breaks down into 14 percent collected by the Pension Fund, Viagra Generic 14 percent collected by the Tax Ministry for the Pension Fund and 7.6 percent collected by the Tax Ministry for other social services.

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