The Central Bank explained the details of the new pension system

First Deputy Chairman of the Central Bank Sergey Shvetsov told the Russians about how to manage pension savings. In an interview to “Rossiyskaya Gazeta” the financier explained that the to transfer funds to the account of a guaranteed pension plan will be using a smartphone. According to Shvetsova, this will help the citizen to feel the “tangibility of pension savings”.

When you transfer money to one non-governmental pension Fund at the expense of GPP, a new system of voluntary pension savings to avoid fees or loss of investment income.

If the Russians want to transfer a pension to another Fund, the transfer will occur after the expiration of five years after submission of the application, and the new payments will go to the selected Fund.

those who have left the savings in the Pension Fund of Russia (“undecideds”) will work in the same way.

a Guaranteed pension plan — a voluntary system of financing non-state pensions.