Reporting to the FIU since 2018
In 2018, business representatives will continue to submit reports to the FIU, taking into account the redistribution of functions between the Pension Fund and the FTS. Despite the desire of officials to balance the pension system, the fund’s budget will remain scarce. In addition, next year the government intends to launch large-scale reforms in the pension sphere.
Changes since 2018: reporting to the FIU
The redistribution of functions between the FIU and the FTS will have a positive impact on the collection of insurance premiums, officials believe. Representatives of the tax authority will be able to provide effective control over the necessary revenues, which will positively affect the stability of the budget of the FIU. During the crisis, payment discipline has deteriorated significantly, experts say, which forced the authorities to apply appropriate measures.
Despite these changes, entrepreneurs expect monthly reports to the FIU on the form SZV-M. In addition, business representatives will have to submit information on the length of service of the workers.
Until the beginning of 2018, representatives of the FIU continue to carry out the following operations:
- making revisions to documents submitted to the local offices of the Pension Fund;
- return of funds that exceed the regulated payments;
- provision of information about penalties.
In addition to the redistribution of functions of the FIU, in 2018, experts expect the start of reform, which will determine what awaits the pension system in the near future.
Budget deficit and forced reform
The main problem of the FIU is the imbalance of the budget, which creates threats to the stability of the financial system. In 2017, the deficit of the PFR exceeded the mark of 220 billion rubles. Experts believe that this trend will continue in the medium term. As a result, the government will have to seek additional resources to finance pension payments.
Slowing inflation will reduce the rate of indexation of pensions, analysts say. Next year, pension payments will be increased in the range of 4-5%, which is the minimum value in recent years. Despite moderate price increases, the fund’s expenditures will exceed income levels. In addition, the government will not be able to provide a real increase in the income of retirees in the coming years.
The latest news of the Pension Fund of Russia confirm the existence of negative trends in the field of social security. Despite the reduction of 12 thousand employees, next year the budget deficit of the Pension Fund will be about 200 billion rubles. At the same time, the average pension will reach 14 thousand rubles.
Given the further deterioration of demographic factors, the current pension system needs large-scale transformations.Experts expect the start of reform, which will affect the work of the FIU from January 1, 2019.
Reforms on the agenda
Officials continue to discuss the format of future pension reform, which will solve the accumulated problems in this area. The most painful issue is raising the retirement age.
The economic bloc and many experts insist on the need for a gradual increase in the retirement age for all categories of citizens. This measure is forced, since a further increase in the number of pensioners per worker is fraught with a deterioration in the financial situation of the FIU. Supporters of this initiative propose to launch transformations following the example of adjusting the age limit for civil servants.
The latest news about the upcoming reform is the August appeal by Vladimir Putin to the people, in which the president urged citizens to understand the need for such unpopular measures and explained what innovations should be expected from January 1, 2019.
The main news is a gradual increase in the retirement age to 60 years for women and 65 years for men. They promise to add gradually, increasing the rate annually by 1 year.
At the same time, the inhabitants of the outback will receive a special supplement to the pension in the amount of 25%.
Also, the president proposed to introduce the concept of "pre-retirement age." Citizens who remain 5 years old until retirement (men 60-65 years old and women 55-60 years old) will fall into this new category. For people of pre-retirement age will enter:
- Increased unemployment benefit, which from 2019 will amount to 11,280 rubles.
- Real estate and land benefits that were previously available only to pensioners.
- Guarantees of social protection in the format of responsibility for employers for dismissal or refusal to hire a person falling into this category.
According to the calculations, the full transition to the new system will occur by 2028.
We propose to learn more about the upcoming changes by lookingvideoAugust speech by the president:
Also, officials are discussing the future of the funded system. At the same time, representatives of the Ministry of Finance and the Central Bank propose next year to switch to a mechanism for the formation of individual savings.
The economic crisis has become a real test for the funded pension system. The authorities were forced to freeze the accumulated savings, using these funds to patch holes in the state budget. Such measures actually discredited the formation of the funded part of pensions. As a result, officials plan to launch a reform that will create a new tool for the formation of individual pensions.
In the Ministry of Finance and the Central Bank offer to introduce a new tool - the individual pension capital (IPC), which will restart the funded system. At the same time, the state will be able to create additional incentives for citizens using the system of tax deductions. Employers will also be able to co-finance pensions, receiving certain benefits from the government.
All working citizens will automatically connect to the mechanism of formation of their own savings capital, which will significantly expand the number of participants in the new system.At the same time, citizens will be able to independently adjust the amount of contributions, taking an active part in the formation of future pensions. It is the involvement of citizens that will lead to cardinal changes in the field of pensions, officials say.
Representatives of the FIU support the initiative of the Ministry of Finance, however, they propose to further discuss the future system of deductions. Compensation cannot be made at the expense of insurance premiums, since this will negatively affect the budget of the fund. The FIU believe that pension deductions should be financed from income tax.