Benefits for future pensions

Benefits for future pensions

The government can introduce tax incentives to stimulate corporate pensions: to employers - on profits from contributions to non-state pension funds, to employees - on personal income tax when receiving pensions

The question of how to teach people to take care of their incomes in old age by themselves rose to the government due to the growing deficit of the Pension Fund of Russia (PFR). Next year, in order to alleviate the pension burden, the government will launch a hand in savings - contributions for 2014 will be fully used to pay current retirees, on which the federal budget will save 244 billion rubles.
The social block of the government offers tax incentives to stimulate citizens and employers to save themselves a voluntary pension without state participation.
The draft law was developed and submitted to the government by the Ministry of Labor "in order to stimulate the development of non-state pension coverage," the explanatory note states. The project was supported by Deputy Prime Minister Olga Golodets and approved by the government commission on legislative activities, which follows from the documents accompanying the amendments (this was confirmed by a federal official).
The amendments to the Tax Code propose not to charge personal income tax from private pensions, which were formed for a person by his employer or other individual (for example, adult children for his parents). However, there is a limit on the amount: the tax will not be taxed on a pension within the two dimensions of the subsistence minimum for pensioners in Russia (in the first quarter - 5,828 rubles per month).
Corporate pensions rarely exceed 10,000 rubles. per month. For example, in the Russian Railways, the average corporate pension in 2013, according to the information of the Russian Railways Pension Fund “Prosperity”, is 5,467 rubles.
Now, only private pensions are exempted from personal income tax payments, which citizens themselves have set up for themselves under an individual contract with an APF. If the pension was formed by an employer or an individual in favor of other persons, then when paying a pension, 13% of income tax is imposed.
Incentives are also being prepared for employers. The official of the social block of the government says that now they are discussing an increase in the size of the income tax benefit for companies that form corporate pensions for employees. Now the employer can reduce his income tax base by the amount he has sent to corporate pensions (within 12% of the salary fund). “The social block proposes to set higher ratios - 1.5 or 2.That is, if an employer sends 1 rub to the pension program, then his tax base decreases by 1.5–2 rub. ”, Says a government official. What exactly will be the coefficient and other restrictions to avoid abuses and tax schemes have yet to be resolved, he says.
Alexey Levchenko, a representative of Olga Golodets, confirms that such an idea exists. According to him, the social block of the government plans to prepare a relevant bill and begin its discussion in early 2014, after the settlement of the issue with the benefits of personal income tax.
The new pension strategy suggests that the number of participants in voluntary pension programs should increase to 25 million. Now 6.7 million people participate in voluntary programs, and 1.5 million Russians receive corporate pensions.
“The proposed exemption from personal income tax will increase the size of the non-state pension and will certainly increase the interest of company employees,” said Alexander Lednev, deputy executive director of NPF Prosperity.
Tax incentives for employers will give a particularly strong stimulus, says Vitaly Plotnikov, the board of directors of NPF First National.
But it is not clear who stimulates the personal income tax benefit, continues Plotnikov. "Employers and so transfer these contributions, and for them nothing changes, and as for the citizens, then for them the tax on these payments is not such a painful matter, because it is the employer's money, not their own," he argues.
“The measures are useful, but the reference point for the tax break is surprising - the subsistence minimum for an average pensioner across the country,” admits Yevgeny Yakushev, chairman of the board of the NPF Evropey. It would be more logical to tie tax relief for citizens to “more understandable” benchmarks - for example, to the size of the listed pension contributions, he says.
The companies interviewed by Vedomosti have not yet been able to answer the question whether they will use new opportunities. The representative of MMC Norilsk Nickel called the proposals “interesting”, stipulating that “they should be studied”.
The bill was submitted to the government with disagreements with the Ministry of Finance, which strongly opposes tax incentives. Issue price - 7 billion rubles. "Non-received income on personal income tax", which will lose the budget, calculated in the ministry.And an increase in the number of participants in non-state pension programs at the expense of such benefits “does not lead to covering lost income,” the Ministry of Finance said in a recall to the project.
The government’s social bloc will continue to reconcile the issue with the Ministry of Finance and expects to resolve differences by the end of the year, Levchenko said.

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  • Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions

    Benefits for future pensions