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The care of the state pensioners will block access to credit

Забота государства перекроет пенсионерам доступ к кредитам

The experts evaluated the proposals of the Ministry banning the collection of debts on pensions and salaries, not exceeding the subsistence minimum.

The Ministry developed two draft laws, which publishes “the Russian newspaper”. One of them introduces a ban on the collection of debts from pensions. The second suggests that after the recovery of the debt from the salary of the person should remain in the amount of the subsistence minimum. Documents, as writes the edition, already approved in the Russian tripartite Commission on settlement socially-labour relations, they soon submitted to the government Commission on legislative activities.

The debt is now in Russia do not require social benefits to foster children, payments in connection with the death of a breadwinner, with the grant, with compensation for travel to the place of treatment and back — about 18 categories. The authors of the document propose to add to this list the following types of pensions: old-age insurance, disability insurance, savings. In the list of untouchable income also includes pensions for state pensions, benefits for temporary incapacity, pensions for military and law enforcement personnel. Although they still will be possible to collect debts for housing and communal services, the damage after the crime, administrative and judicial fines.

The meaning of the prohibition in respect of salaries, and in respect of pensions is that after the debt recovery people on hand remained the amount is not less than the subsistence minimum established in the region.

The authors emphasize that “an overly rigid approach to debt collection could lead to the development of the informal sector of the market that has a significantly more detrimental impact on the economy than the loss of individual creditors”. The draft law developers directly speaks that “the exercise of the rights and freedoms of the creditor shall not violate the rights and freedoms of the debtor-citizen”.

“We need not undress, not leaving them even for food. In this sense, the decision is absolutely correct. I would even say is insufficient, because the wages of living wage to live, in fact, too impossible,” approved the proposals of the Ministry of economic development former Deputy Minister of labour of the Russian Federation, member of the Board of Confederation of labour of Russia (KTR) Paul Kudyukin.

Of course, salaries in envelopes in our country is not uncommon, and often the official set just at the level of the minimal wage, and, therefore, banks that issued such borrowers money, you may not get them back. But this, according to Kudykina, the problem of banks that gave loans, are well aware of the official income of the borrower.

“The causes of such initiatives are clear: the impoverishment of the people, and loan burden is also growing. And the question arises of what to do with the most vulnerable, particularly pensioners. The offer of Ministry of economic development, probably intended to protect them. But if so, then the next iteration is highly predictable: they will simply cease to lend. After all, if you get a legal opportunity not to pay the Bank, why would he give you this loan? And who will benefit from this, I honestly do not know” — said “Rosbalt” by the Director of the Banking Institute HSE Vasily Solodkov.

In addition, according to the expert, this measure only encourages the suppression of wages. “If you can’t repay the loan, you can ask the employer to pay was given to you in an envelope and in the help wrote that you get a minimum”, — said Solodkov.

More recently, however, we talked about how to allow banks to make loans on the basis of voluntary Declaration of income, to be able to take into account all the borrower’s income, including the shadow.

Representatives of the banking sector concerns the expert confirmed. “It is clear that banks as a result of implementing the proposals of the Ministry of economic development will increase the risks of loan default. So, they will be issued for such categories of citizens less loans or raise rates, which in principle is the same,” said Executive Vice President, head of the legal Department of the Association of Russian banks (ARB) Larissa Matasova.

According to the source Agency, the proposals of the Department is rational: when the pension is the only income of the person, it is important not to leave him without any money.

“However, their risks, banks will be immediately put in the interest rate, and loans for the most vulnerable categories of citizens only go up,” she said. Longer then people in need of borrowing money? Unlikely. But interest rates for seniors can be overwhelming. “We run here into a vicious circle: the Bank will issue a loan at high interest rates, the retiree will not be able to repay the debt, but to recover it will still be nothing. I think for banks it is not very interesting. And salaries will be the same. Increased risk of non-payment gives rise to an increase in the interest rate on the loan,” — said the expert.

While Mitasova did not rule out that in the proposed economic development conditions, the loans will become more active to give security under land, property, jewelry or securities that the borrower will be able to offer as security.

Meanwhile, Pavel Kudyukin believes that if the banks cease to lend to people with a low level of official income and seniors, it will be a good thing. “Credit — is a form of robbery of the poorest. Not only that, people are forced to take out loans to buy things that would have in a normal society enough current income, so they are still with interest to buy those things at exorbitant prices. The very limitation of opportunity to take a loan will teach people to a more responsible financial behavior. On the other hand, inspire to fight for a normal income. It is clear that in Russia the most part of salaries and almost all pensions are shamefully low. Perhaps lawmakers from the wrong side came, but they at least did something, because the banks, microfinance institutions, collectors, people undress. Especially because we have no one never tried to explain to people that such credit”, — concluded Kudyukin.

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