Nabiullina hoping that decision on freeze of pensions savings to be temporary
LIMA. Oct 12 (Interfax) - The government's decision on the "freeze" of the cumulative part of pensions may be temporary, Central Bank head Elvira Nabiullina hopes.
"The decision was made on the freeze of the cumulative part of pensions. It was necessary, but I hope that it will be temporary," she said live on Rossiya-24 television channel on October 10.
The head of the Central Bank of Russia said that the "cumulative system is a necessary element of the pension system", because in the current demographic conditions, it gives financial stability to the entire pension system.
In addition, the pension savings are a resource of "long money" in the economy, which may be invested in long-term production and infrastructure projects.
It was reported that the government made a decision on the "freeze" of the cumulative part of pensions in 2016. The Finance Ministry registered 342 billion rubles of additional sources of budget revenue from this freeze.