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Govt commission approves non-state pension plan stimuli

The draft law also suggests increasing the tax rebate from 120,000 to 200,000 roubles

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, August 24 (Itar-Tass) - The Russian government’s commission on legislative work has approved draft laws aimed at encouraging non-state pension plans and voluntary pension insurance.

The first of the two documents exempts employers from insurance premiums for employees if they pay insurance fees for them under voluntary pension insurance agreements.

The second document exempts non-state pensions from the income tax if such pensions do not exceed two average subsistence levels for pensioners in Russia and are paid under additional pension agreements made by organisations or individuals in favour of third parties.

The draft law also suggests increasing the tax rebate from 120,000 to 200,000 roubles.

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