Freezing retirement savings became a problematic turn for Russian lawmakers, according to Anatoly Aksakov, the chair of the State Duma Financial Market Committee. He stressed that a legislative decision already set the course, and non-state pension funds began to form with substantial funds already accumulated. When the rules abruptly changed, the expectations of fund managers and retirees alike were disrupted. Aksakov spoke during the Financial Congress hosted by the Central Bank of Russia, highlighting how sudden shifts can unsettle the financial planning of many citizens. [Citation: TASS]
The lawmaker noted that returning to pre-2014 norms is a contentious topic, and the current stance from the Finance Ministry appears to oppose restoring those older rules. That position complicates any potential rollback and signals a continuing debate over how pension assets should be managed and indexed. [Citation: TASS]
Prior to this, the Federation Council approved legislation aimed at restoring pension indexation for retirees who continue to work starting in 2025, a move that would affect how earnings and benefits are adjusted for those who remain in the workforce. [Citation: TASS]
Earlier explanations in the State Duma about how pension indexing would work outlined the mechanisms that would determine adjustments to payout levels, reflecting both earnings and legislative choices. This ongoing discussion underscores the evolving approach to retirement security in Russia and how policy shifts can impact long-term financial planning for citizens. [Citation: TASS]