It is reported by RIA Novosti with reference to sources close to the developers of the document.

The new system received the working title “On Guaranteed Pension Product” (GPP). Participation in it is voluntary.

It is assumed that citizens themselves will be able to determine the size of the contribution to the GPP. However, only those contributions that make up less than 6% of the salary level are exempt from personal income tax.

According to sources, Russians will be able to transfer savings from the mandatory pension insurance (OPS) system to the state pension fund.

In September, it became known that the transition to a new funded pension system could take place in January 2021.

The head of the Central Bank, Elvira Nabiullina, said she supported the new system of voluntary pension savings proposed by the Ministry of Finance.