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“Comfortable old age”: how to work the accumulative pension system

"Безбедная старость": как должна работать накопительная пенсионная системаExperts have predicted that waits for Ukrainians after the retirement of innovation.

The increase in pensions will not affect the amount of the subsidy. This was declared by the Cabinet. Like, people started to worry that aid will be cut. However, to pay more for communal those who receive subsidies do not have to. The allocation will start from may next year. Also, officials tried to calm those who have received “old” neperechislenie pension.

In the Cabinet say that it has touched those who have the amount of new pensions increased by less than one hundred and forty hryvnia. His fee for October and November they will receive in the next month. Also it will recalculate the payment and those who received so-called special pensions.

Save himself. Very soon in Ukraine will start to operate the pension system. The Parliament made the final decision. Now the Ukrainians will defer money for their retirement themselves with pension funds. Whether they want it or not?

So the state encourages future retirees to participate in ensuring a comfortable retirement, putting aside money into a special account. Contributions will be required. But this does not mean that power will wash their hands and will cease to control the process of social security. Just be to operate the two systems. Solidarity, as it is now, and – cumulative.

Placing eggs in different baskets, there is every chance of a comfortable life, says Maxim Turlapov, who has studied foreign experience and realized that saving money twenty years of commercials, you can become not only retired but also a millionaire.

But for all of us – a very disappointing Outlook from this prestigious organization of the World Bank. By 2050 year, pensions in Ukraine will be only the fifth part of the salary.

Therefore, this meager pension from the state needed another second pension from the savings Fund. To do this in Ukraine and entered the second accumulative level of the pension system. And the law already set a clear date for its start or beginning of 2019.

This means that slightly more than a year, every Ukrainian will pick up part of the salary, and transfer it to his personal account in the cumulative Fund. And so – every month – from year to year. Until then, until a person reaches retirement age. Then the cumulative sum will become of this second pension.

Looks tempting. Here are just Ukrainians still remember how devalued their deposits in Sberbank of the USSR, as all his savings were burned, due to hyperinflation in the nineties, several years ago, one after the other the bankrupt banks. And people lost their deposits. And even if such shocks will no longer – will not depreciate any money in pension account at the current rate of inflation?

How to save money for decades – and to protect them from depreciation? This is how are pension funds around the world. The main principle is to spread the eggs in different baskets.

Part of the money is invested in stocks, often in government bonds, some in precious metals, some in real estate. Another part of the money for the deposits – something in the hryvnia, something in dollars and EUROS. And if one thing falls in price, according to the law of the market – anything else – always growing. So – this will allow you to save money. And to increase it.

Huge profits will not be here. But still outpace inflation is therefore absolutely real. The system works in all EU countries. Some of her latest have implemented the Baltic countries.

Latvia – did it fifteen years ago. Yet – the money in the accounts of Latvians – only multiplied.

A resident of Riga Alexey Osipov every month from the salary of his personal savings account is automatically transferred to 50 EUROS. Over the past ten years has accumulated a substantial sum.

In the countries of old Europe funded system has been in place for many decades. Somewhere it must.

And in Belgium, for example – voluntary. Here and guaranteed pension from the state is very good. On average – one thousand two hundred EUROS. But still – most people are on their own save for old age with the help of special funds. And amounts over dozens of years to accumulate decent. Can retirement and take a cruise ship restaurants and the like.

As a rule, citizens of Belgium take the money from the savings Fund all at once. This is already the Belgians feature. Then they spend it how they want. Or Deposit to the Bank.

USA. Here the average pension from the state of $ 1,300. Most Americans believe that it’s a small amount. And also try and save for old age through pension funds. And this despite the fact that the safety of the money was not guaranteed by the state.

But even that people are not afraid because they see an example of current retirees. .

Richard Hard – also retired – used to work as a doctor. Receive a high salary. And for many decades each month set aside for your personal account in the cumulative Fund or twenty, and sometimes thirty per cent of salary.

But Maple Ship – he will soon retire. But the prospects are not so rosy. State pension will receive only slightly more than a thousand dollars and it is for him a critical few.

The pension funds for more than ten years working in Ukraine. Since 19-th year, every working citizen of Ukraine will have to choose one of them to determine which of these funds is better to trust. Meanwhile – funds work only with those people who decided not to wait for the start of the mandatory funded system. For themselves and decided to save for old age through these institutions.

Tatiana Smolnikova became a member of one of their foundations almost ten years ago. How much money has accumulated during this time on her account – she can see on his personal email account is by going online. Here – there now amount to 23 thousand hryvnia.

Before retirement Tatyana is still far away – and when she met 60 years – the amount in the account must be much higher. A person’s money, which lie in the cumulative Fund is his property. It’s like any other property – like a house, car, Deposit. If the client dies, the funds gets its successor.

You can collect money before reaching retirement age. If you need expensive surgery, or leaving permanently abroad. Everything looks comfortable. But is it safe? Better mandatory funded pension took over the state many believe. As an example and lead the state banks to meet depositors 100 percent and commercial – where the ceiling of payments, if the Bank goes bankrupt, to a maximum of 200 thousand for each contribution. The state of trust in people more. But the state can undermine this trust. Example – Russia.

A mandatory funded pension system introduced nine years ago. All the money went into a single state savings Fund. But nothing good is not over. In the country – not enough money to pay pensions to current retirees. And the government has found where to take the money. From the savings Fund. Means there froze – and to use them for social benefits.

That substantially undermines the credibility of the storage system, and if at first it was about the fact that there will be some compensation, when frozen in for the third time – no compensation hasn’t already said.

It told us the former Minister of economy – even the pre-Putin Russia Andrei Nechayev. It shows that now the government of the Federation actually took a course on the elimination of the mandatory funded system. And what about all those millions of people who every month from your paycheck taken part of the money?

But the ruble over recent years has fallen twice. And what will it cost in ten years or twenty those contributions to the savings Fund, which was done by the Russians?

The risk that the state will climb into the pockets of its citizens, and take retirement savings – will be in Ukraine. But only if we, as in Russia, will create a single state accumulation Fund. But if they work as private pension funds – there are other risks – can the government control them. After all, the space for abuse is enormous. And at stake will be billions of hryvnia.

What will be the cumulative system in Ukraine?

All the details of the Cabinet will develop in the near future. So far, only known that people who have less than ten years to retirement – will have the right to refuse to participate in the cumulative Fund. The rest will have to hope that the situation will be developing in Europe. But not in Russia.

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